Among the most sought-after homes in Plymouth, properties with inground pools and homes with walkout basements have been the most popular. Based on how quickly homes with these popular features have sold compared with how many were then available, there has been a sellers’ market for these types of homes over the past few months. But another home type experienced a sellers’ market recently: new homes.
Plymouth MI Buyers Want New Construction Homes
Typically, the market for new construction homes in Plymouth over the past few months has been a buyers’ market. With up to 20 homes on the market at one time, followed by only a couple of sales within 30 days, new homes offered much more inventory than buyers can keep up with. High supply and low demand often means buyers can get a better price.
However, this month, new homes are gaining popularity. Currently there are 19 new homes available. A total of 4 new homes sold within the past 30 days. This gives us 4.75 months of supply, a figure that tells us how quickly homes on the market can sell based on the number of homes that sold in previous months.
Anything below 6 months of supply is generally considered a sellers’ market. (In the past, new construction homes have had anywhere from 10 to 16 months of supply.) High demand and low supply often drive up the price of these types of homes. If you are a buyer looking for a brand new home in Plymouth MI, you may want to consider buying a home now.
Let’s Chat About the Plymouth Real Estate Market
Buying a home? Selling a home? Just curious about the real estate market? We have all the answers. Take part in our free, weekly consultation event at our office, 5736 N. Canton Center Road in Canton.
There’s no sign-up for our real estate chats. No phone number or email address is required, either. It’s just a free, zero-obligation chat about any real estate questions you have.
Since we’ve served Plymouth, Canton, and surrounding Michigan communities for over 30 years, we want to use our experience and local knowledge to help buyers and sellers in any way we can.
Our next real estate consultation night is this Thursday, 6-8 PM. Will we see you there? Contact us with any questions you have in the meantime — we’re here to help! You can reach anytime us at (734) 459-2600 or team@bittinger.com.
Until next time,
Noel
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