Are you into buying or selling a home? Well, after reading this, you might be!
SE Michigan Home Sales Double On the National Road
Michigan is said to have the homes sales down by 8.6%, but did you know that in metro Detroit, home sales are up to 7.9%? This data is based on the ReMax of Southeastern Michigan. In fact, the home prices in southeast Michigan is said to be up nearly 5% since last year. Communities in the Macomb County continue to see the largest growth.
One first time home buyer named Lyndsey Ramsay does not really think that she and her husband are asking for too much – they were just looking for a house with a decent yard and an attached garage. However, as it turns out, the couple have found it quite difficult to find a home that is updated and is still within their price range. Fully updated starter homes is in great demand, but in short supply. High-end homes is strong and to find low interest rates financing to make financing easier is not that easy, either!
Al Block, co-owner and associate broker of ReMax First said, “It’s natural supply and demand.”
Hot Seller Markets
Shelby Township: According to the Southern Michigan Council of Governments (SEMCOG), the Shelby Township came as #4 in the Macomb County of population growth from 2010-2018. It doesn’t seem to stop anytime soon.
Businesses in this area have been booming – the new 1-million square-foot Amazon center among commercial developments to move in.
The Shelby Township is also ideal for nature lovers. It’s the home to Cherry Creek Golf Club, Stony Creek Metropark, Macomb Orchard Trail, and the 24-mile hike and bike trail that connects to 180 miles of trails across southeast Michigan and township hike with hike and bike trails as major assets.
Macomb Township: This place is also getting top dollar as the demand increases. In fact, this is Michigan’s fastest growing township for single family housing for the past 3 years. The Macomb Township experienced the biggest population grown in the country since 2010 according to SMECOG.
Sterling Heights: Based on the Michigan Department of Treasury, the City of Sterling Heights has the 5th highest property value in the State of Michigan and have the highest property value in Macomb County in 2018.
Royal Oak: Considered to be booming for quite some time with home prices starting to level off. However, this is considered as a hot market for sellers and an in-demand place for buyers.
Plymouth & Northville: Both Plymouth and Northville have vibrant downtown areas. It’s considered to have high walkability scores and a variety of artistic, musical and cultural experiences. The two areas have partnered on economic growth initiatives. Homeowners around Plymouth and Northville can get top dollar for their houses.
There are more properties to mention. We will cut it in two as the other part will mostly focus on having the best buyer ROI.