Sunday, January 03, 2016

South Lyon Real Estate Update 01-03-16

Here's a brief update on the South Lyon real estate market. The video is under 2 minutes in length,

Current inventory is 217 units (detached single family residences or SFRs, and condos).  In the last 7 days there were 6 new listings, and 10 solds.  The solds averaged out at around $125/sq ft of living space.

Understand that there is a lot of new construction in the townships surrounding the City of South Lyon and that new construction is going to be more expensive - especially if you want to build a ranch home.

The South Lyon area is primarily in Oakland County but also goes into southeast Livingston and northeast Washtenaw counties.  Right now there are 9 rentals in South Lyon recorded in the multilist system, but this won't include apartments or properties run by management companies or even private landlords using yard signs and craigslist.  Unfortunately, there's no single place to look for rentals as there is for homes.

Be careful if you're renting.  There are scams out there.  Be sure you're dealing with the property owner.

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