In our previous real estate market updates, we have discussed a term called months of supply. This tells us how many months it would take to sell everything that is on the market based on how quickly homes have sold recently.
In Plymouth, for instance, 112 homes are available and 46 have sold in the past month. That gives us almost 2.5 months of supply, meaning it would take about 2.5 months to sell off those 112 homes.
Let’s Compare Plymouth’s Most Popular Searches
Months of supply can tell us whether it’s a buyer’s market or a seller’s market. Right now, it’s a seller’s market in Plymouth, but that is not always the case with smaller neighborhood markets or these popular home searches.
Brand New Homes
As we saw in last month’s market report, there’s still a buyer’s market for new construction homes. However, there are 3 fewer new homes on the market this month than last month.
Homes with Pools
There is still a seller’s market for homes with pools, as there are 3.8 months of supply in this market right now. However, there were 1.8 months of supply in July 2016.
Homes with Walkout Basements
While last month was a seller’s market for homes with walkout basements, this month is more of a neutral market. Only 5 homes sold in the past 30 days compared with the 23 that are currently on the market.
We Can Help You with Anything You Need
We have over 32 years of experience helping buyers and sellers in the Plymouth, Michigan area. As real estate experts, we are here to answer all of your real estate questions — no strings attached! Please call us at (734) 459-2600 or email team@bittinger.com to start the conversation.
‘Til next time,
Noel
EXPLORE our website: www.Bittinger.com
LIKE us on Facebook at Living In Plymouth/Canton/Northville Michigan to stay abreast of the local real estate market and to celebrate these communities with us!
LIKE us on Facebook at Michigan Homes Coming Soon to learn about the hottest new listings … sometimes before they are even on the market!