I'm
starting to feel somewhat like a time
loop. Over and over and over again. South Lyon inventory is flat.
No significant difference since the first of the year with 211 units
currently available.
New
listings have also been flat since the middle of March with 25 new listings in
the last 7 days. Time on the market for the 14 solds last week has
slightly lengthened, now at an average of 98 days, although the median time on
market is a more reasonable 70 days.
The
average sales price last week was $304,547 or $134/square foot, pretty typical
for this market area.
Market
insights? Sellers, don't wait for the warmer weather to list unless you have exterior work to do on
the house. Buyer demand is healthy with lower inventory, especially in
the $350,000 and under price points.
Buyers,
please work with a full-time local agent that knows your market inside out and
backwards. Any licensee can complete a purchase agreement, but how many
of them can help you with getting all the info you need to make the best
decision possible?
You can watch my video report here or get a copy of the full market statistics
and last week's new listings here.
Bob Smith
has 17 years experience working the South Lyon real estate market. Call
for a home valuation.
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