Brighton MI 48116 Real Estate Market Statistics for April 2015

Real Estate Market Statistics Brighton, MI 48116 for April 2015

Real estate market data for Brighton, MI  48116 provided by Christina Ehli, RE/MAX Platinum, 6870 Grand River Ave, Brighton, MI  48114.

Brighton, Michigan 48116 Home Prices and Days on Market

Since January 2015 every month has seen the median sales price go up in Brighton, MI  48116 and I do not expect things to slow down anytime soon.  If you are considering buying a home you can still find deals on a house in Brighton but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market and with multiple offers.  To make sure you don't overpay for your home, you will want to have an agent that does a thorough market analysis of the Brighton, MI home on which you are making an offer.  The median sales price in Brighton, MI  48116 was $136,500 in January 2015 and has gone up to $171,250 in April 2015.

Currently in this area of Brighton, MI 48116, homes had an average of 24 days on the market in April 2015 before they sold. This is a significant drop when we saw an average days on market in Brighton, MI  48116 in November 2014 of 62 days on the market.  

Buyers need to be in a great position to make an aggresive offer on a home.  Buyers need to have a pre-approval letter from the onset before looking at homes for sale in Brighton, MI.  There are more frustrated buyers who miss out on a house if they cannot see it within the first few days of the house coming on the market.  You will want to work with a buyer's agent like me that works with a limited number of buyers at a time and checks the local MLS multiple times a day for updated listings .  I can also send you listings via email as soon as they come on the market.

Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Brighton, MI 48116 has led to multiple offers in the local real estate market. I would not expect home prices to run up quite as fast as they did at the top of the market about 10 years ago.  Banks have gotten a lot stricter on lending guidelines incluidng with appraisals.  Low inventory is one indicator that prices should continue to rise.  I am curious what the spring and summer real estate market will bring in Brighton, MI.  Will sellers get off the fence when they realize their house is worth more than they may expect?

The chart below shows the median sales price in Brighton, MI  48116 from January 2015 to April 2015.

 Brighton, MI  48116 Real Estate Report Summary

The average list price in April 2015 for single family homes in Brighton 48116 is $215,664. This is an increase of  6% from the previous year (April 2014).

The median sold price in April 2015 for single family homes is $171,250. 

The average day on market dropped in April 2015 since November 2014.  Only 24 average days on market in April 2015 vs 62 days on market in November 2014 which is also seasonal related as less people are looking for homes around the holidays and when the the weather is worse.  It does tell us, however, that houses priced right in good condition are selling quickly.

Find Homes for Sale in Brighton, MI

Visit my website to search for homes in Brighton, MI or to be notified when Brighton, MI  homes come on the market.

To find out what you home is worth in the current market contact me or call 248.830.6921.

All information is deemed reliable but not guaranteed.  Information provided courtesty of Realcomp.  Does not include condominiums or for-sale-by-owner homes or other houses not listed and sold through the local MLS.