Real estate blog entries tagged with full time real estate agent by Robert Smith, SRES, Search for Homes Brighton-Howell-SE Michigan (Preview Properties, PC

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full time real estate agent: Howell Real Estate News Apr 20 2016 - 04/20/16 03:04 AM

Here’s the latest. Inventory is just starting to improve, but so are the sales, so we’re not seeing much of a net increase – yet. There are still a lot of expired listings, too. Hopefully they will be back on the market in the next month or so.
Year to date we’ve seen 268 units sold at an average price of $208,060, or $117 per square foot. This is a pretty typical number for Howell, but remember that new construction, lakefront homes and homes on large acreage will fall well outside this value.
Homes are still selling reasonably fast, 73 days on average … (0 comments)

full time real estate agent: South Lyon Real Estate News April 7 2016 - 04/07/16 09:30 PM

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 … (0 comments)

full time real estate agent: Howell Update for March 31 2016 - 03/31/16 05:05 AM

The inventory of available Howell homes is at a low for the year at 198 units. Even though we had 18 new listings in the last 7 days, 20 were sold in the same period, and when you count in expired listings and those pended (taken off market pending the sale), we're at a net loss.

For the 20 sold properties, the average days on market was 45 - a quick time period. But the median time on market was a blistering 18 days! Buyers - don't hesitate when you find something you like, I want to throw in a pitch for … (0 comments)

full time real estate agent: Median vs. Average - Howell Market Update - 03/21/16 03:01 AM

This week's Howell Michigan market update is actually a year to date (YTD) discussion. When sales volume is low, it's easy to have a distorted view because of a few extra low-, or high-priced sales. Because of that I switched from reporting just average figures to including median data, too. Until the market picks up, I think I'll keep with median instead of average.
As of March 21, 2016 we've had 179 sales with a median sales price of $209,000. The median days on market is a very fast 52 days. We're still waiting for sellers to decide that it's the right time … (0 comments)

full time real estate agent: South Lyon Michigan Real Estate Update March 17 2016 - 03/17/16 01:00 AM

Our active inventory is 203 units. We are still waiting for the Spring flood of listings to happen, but that can be a mistake if you're a seller. There is less competition and a lot of pent up buyer demand out there right now. Homes are selling quickly.
In the last week there were 28 new listings, but that's not enough. With solds, expired, and pending sales, we're at a deficit.
10 homes sold in the last 7 days with an average sales price of $289,289 and the price per square foot was $131. These 10 homes sold in an average of 55 … (0 comments)

full time real estate agent: Howell Michigan Real Estate Update - 03/14/16 12:08 AM

Our active inventory is just 214 units. We are still waiting for the 'nice weather listing mindset' to happen, but that can be a mistake if you're a seller. There is less competition and a lot of pent up buyer demand out there right now. Homes are selling quickly.
In the last week there were 25 new listings, but that's not enough. With solds, expired, and pending sales, we're at a deficit.
11 homes sold in the last 7 days and because 3 were in the higher price ranges, our stats this week are skewed upwards. The average sales price was $283,055 and … (4 comments)

full time real estate agent: South Lyon Michigan Market Update - 03/11/16 01:45 AM

South Lyon continues its growth. There is a good amount of new construction in the area, mostly Lyon Township, but it doesn't get very good representation in the multilist system (MLS) as builders have their own offices and are building semi-custom homes to order. Typically they'll just have a model in the MLS.
Existing resale homes continue to be popular, too. Current inventory is still low at only 200 units. In the last 7 days there have been 16 new listings. There were 7 solds reported in the same time period, with an average days on market of 28! Blazing fast.
The average … (0 comments)

full time real estate agent: March 7 2016 Update for Howell Michigan - 03/06/16 11:22 PM

Inventory continues to decline, but that should change soon. Right now we're at a 2016 low with 210 units available.

Last week, 19 new listings hit the market. We also had 19 sold listings. But with expireds, pendings and withdrawn properties, we actually lost inventory.

For the 19 sold, the average price was $211,250 or $116/square foot. Average time on the market was 84 days, but one listing had been on the market for over 800 days (!) and if that one is excluded, the average time on the market was only 42 days. Folks, that is very, very fast.

At the risk of … (0 comments)

full time real estate agent: How's The Howell Housing Market? - 03/01/16 01:57 AM

Like many other parts of the country, demand is outpacing supply. Even with some new construction in the area, there is still not enough inventory.
Last week, there were 14 homes sold at an average price of $208,486, or $114/sq ft. These homes sold remarkably fast on average - just 45 days! We also had 20 new homes come onto the market. I know what you're thinking. Hey! 14 sold and 20 new listings? That sounds like inventory is repleneshing itself to me.
Au contrere. When you take into account the expired listings, those that went pending (an off-market status), and the consumer-requested … (0 comments)

full time real estate agent: Weekly Market Update - Howell - Feb 22, 2016 - 02/22/16 11:26 PM

Inventory is at the lowest point of the year. Since last week, time on market has increased a bit to 109 days, average price per square foot is $127. There were 12 solds last week and 13 new listings, but there were also some expired and withdrawn listings that had a negative impact on overall inventory.
You can get a copy of last week's new listings and some Year To Date sales info for the Howell homes market here. If you want to watch my video report on the Howell real estate market, click here.
If you would like me to determine your … (0 comments)

full time real estate agent: Top Priced Homes - Livingston County MI - 02/20/16 01:17 AM

I overheard a couple of people talking. One said, "I wonder how many million dollar homes are around here." The reply was, "Oh, a few." So I did a quick search when I got back to the office and here's what I found.
8 homes at $1,000,000 or more. 7 were between $1,000,000 and $2,000,000.
Top priced home? $21,000,000, price increased from $15,000,000.
For info on these, or any other local homes, contact me. Info below.
… (2 comments)

full time real estate agent: What's My Home Worth? - 02/19/16 11:41 AM

Everybody wonders about their home’s real value. I have and I’ll bet you have, too. So how do you find out what your house is worth?
Let’s say you just want a number, no pesky real estate agents looking for a listing, something free, something easy. Hmm, there’s a lot of free stuff on the internet, start there! And yes, you can get a number without too much trouble, but what if it’s incorrect? (It often is, by the way.)
Too high and you’ll be disappointed if you try to sell it alone (for sale by owner), refinance (refi) or take out an … (3 comments)

full time real estate agent: South Lyon Update 2-15-16 - 02/14/16 11:20 PM

Here's the quick update for South Lyon real estate. Check out my video, complete with a discussion of the median home sale, here.
Inventory remains low at 211 units. In the last week there were 14 new listings (low, also) and 8 sales. The sales were completed in an average of 41 days! Folks, that's blistering fast. The average sales price was $253,262 or $132/sq ft, pretty much normal for the South Lyon area.
You can download the pdf of the 14 new listings here if oyu wish. And buyers, contact me for a free home buying workshop. One-on-one service and you'll get … (2 comments)

full time real estate agent: This Week In Howell's Real Estate Market - 02/14/16 01:07 AM

It's Sunday, February 14th - Valentine's Day! The current inventory is 244 units. YTD we've had 80 properties sold and in the last 7 days, 8 have sold at an average price of $212,306. That's $100/sq ft. They were on the market for an average of only 41 days!
We saw 21 new properties come on the market in those same 7 days, There are 9 rentals available via the MLS, but most rentals don't go in the MLS, so you'll have to do some leg work to find that perfect rental you're looking for.
Call me if you'd like a personalized, 1-1 … (0 comments)

full time real estate agent: South Lyon Real Estate News - February 9, 2016 - 02/09/16 01:55 AM

The South Lyon area is mostly in Oakland County, but parts of it range into Washtenaw and Livingston Counties, too.
Inventory in the South Lyon area continue to decline, we're now at 216 units.
There were 17 new listings in the last 7 days (click here to get them in a pdf file). You can see my video report here.
In the last 7 days, there were 6 solds, averaging a sales price of $303,528, or $132/sq ft. These 6 homes sold in an average of 51 days! Remarkable when you consider that it takes 30-40 days to close a conventional or FHA mortgage. … (0 comments)

full time real estate agent: Howell Market Update for February 8, 2016 - 02/08/16 03:39 AM

The active Howell inventory is 239 units (detached homes and condominiums).

In the last 7 days there were 17 new listings and 11 sold. For the sold properties, the average price per square foot was $114, a typical number for Howell. These homes were on the market for just 62 days from date of listing to date of closing, not very long when you consider the average closing takes 30-45 days. The average sales price was $181,195.

Sellers - DON'T WAIT FOR SPRING UNLESS IT'S ABSOLUTELY NECESSARY. Right now with the lower inventory your home will get noticed faster and at this time of … (2 comments)

full time real estate agent: South Lyon MI Update - 02/01/16 07:28 PM

Here's this week's market update for the South Lyon area.
Inventory - 222 units
New Listings last 7 days - 24
Sold last 7 days - 11
For the 11 solds, the average sales price was $293,182 which turns out to be $150/sq ft. This is higher than typical and the data is skewed by an $800,000 sale. The 11 solds were on the market for an average of 86 days.
There are 12 rentals available in the multilist (MLS), but remember that apartments, property managers and many individual landlords/investors do not use the multilist, either. There are more rentals out there, but you can't find … (4 comments)

full time real estate agent: Howell MI Real Estate Update - 02/01/16 02:52 AM

It's Monday, February 1, 2016, so you know what that means. Market update time! This week’s Howell real estate market update shows 249 units of inventory (detached single family homes and condos). There were 24 new listings in the last 7 days, more than we’ve seen since before Thanksgiving. Sellers – there is great buyer activity out there. Do not wait until Spring to list. You’ll have much more competition and it’ll be harder to get noticed.
There were 8 properties sold in the last 7 days at an average sales price of $206,488 or at $106/sq ft. The average time on … (3 comments)

full time real estate agent: South Lyon Real Estate Update Jan 25 2016 - 01/25/16 02:31 AM

You can watch the long version (video) here (still under 2.5 minutes), but the down and dirty stats are:

Current inventory is 221 units (detached homes and condominiums).
New listings last 7 days = 20
Sold in last 7 days = 5
Average days on market for the 5 solds = 108
Price/sq ft for the 5 solds = $129*
Rentals in MLS = 13**
If you have questions about Michigan real estate, or wish to talk to me about my one-on-one buyers class, contact me at 810-220-1478.

* - new construction, homes on large acreage and lakefront properties will likely cost more.
** - does not include apartments, privately … (2 comments)

full time real estate agent: Weekly Update - Howell Michigan Real Estate - 01/25/16 02:23 AM

The basics:
Inventory is at 251 units (detached homes and condominiums)
New listings last 7 days - 18
Sold last 7 days - 11
Average days on market for the 11 solds - 108
Average price per sq ft for the 11 solds - $118*
Get this video report with a link to download a pdf of new listings at: http://goo.gl/WZzah0
Check out my facebook page for market updates, buying, sellingk, decorating and maintenace tips, and general real estate news. (link below)
* - typical range for existing resale properties is $100-$125/sq ft. New construction, lakefront homes and homes on larger acreage will likely deviate outside the high range.
photo credit … (2 comments)

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