There are many reasons why researching current real estate trends in Plymouth is an excellent idea. If you are buying a home, recent home sales can help you understand what you can expect to pay for a home in your size and with your features. If you are selling your home, sold data can help you determine what your home is worth in the current market.
How is the Plymouth Housing Market Doing?
Currently, there are 100 homes for sale in Plymouth, Michigan. In the past month, 50 homes have sold. This gives us 2 months of supply, meaning that it would take about 2 months to sell those 100 available homes based on the rate that sold homes sold last month. We discussed the importance of months of supply data in our October 2016 Canton real estate update.
In Plymouth, the most expensive listing on the market currently is a 5-bedroom, 7,570-sq.ft. home in a gated community, priced at $2,199,999. The least expensive listing is a 1-bedroom, 770-sq.ft. condo, priced at $65,000.
The Plymouth Michigan real estate market can be divided into many smaller sub-markets for neighborhoods and homes with special features. Let’s take a look at the current real estate data for these smaller markets.
Plymouth Homes with Walkout Basements
There are currently 11 homes with walkout basements for sale in Plymouth. Just 3 listings have sold in the past month, ranging in price from $395,000 for a 4-bedroom house to $2,500,000 for a 5-bedroom, 9,827-sq.ft. home.
The New Construction Housing Market
While markets for many popular home features in Plymouth have often been sellers’ markets, the market for new construction homes in Plymouth has often been a buyers’ market. In the August 2016 market update, for instance, the months of supply was high, as there were few buyers for the available homes.
However, it’s closer to a sellers’ market for new construction homes this month in Plymouth. 17 homes are available and 3 homes have sold, giving us close to 5.67 months of supply, which is considered a sellers’ market.
Plymouth Homes with Swimming Pools
For homes with swimming pools, just 5 listings are available in Plymouth currently. Last month, 3 listings with this feature sold, ranging in price from $160,000 to $635,000.
The Demand for Homes on 1+ Acres
Over the past few months, homes on an acre or more in Plymouth have not sold as quickly to keep up with current inventory. In our August 2016 real estate market update, there were 8 homes available and no sales the previous month. In our September 2016 update, there were 9 homes available and just 2 sales the previous month.
This month, there are just 7 homes for sale on an acre or more, while just 2 listings have sold in the past 30 days.
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