Are you thinking of buying or selling a home in Oakland County Michigan? Do you know what the current real estate conditions are? Usually during the winter because of our cold, snow, and freezing temperatures real estate sales drop off. January and February are usually our two slowest months for real estate closings.
I want to share the 2017 4th Quarter Oakland County real estate report from Real Estate One. Whether you are buying or selling in Metro Detroit it is smart to check this out because you can gauge on what you should be doing. If you have questions feel free to call me or email me. My cell is (248) 310-6239 or firstname.lastname@example.org
Green means it is a seller's market with less than 2 months supply of homes
Blue means it is a normal market with 2-6 months supply of homes
Brown means it is a buyers market with more than 6 months supply of homes
In a Seller's market, Buyers must still be willing to act quickly with a strong offer. For sellers, gauge your negotiating strength by the number of showings you are getting. Watch market conditions. Normal markets tend to be a short term transition towards either a buyer or seller market. Reevaluate your marketing strategy and price every 30 days. In a Buyer's market, balance the best combination of price and terms to insure your home is sold in an acceptable time frame. If there is an 18 month supply of homes, make sure your home sells in month 1 not month 18.
If you would like to check your homes current value click on the link and you will get your homes value. If you are thinking of buying or selling a lake house in Oakland County you will find lots of great info on one of my 3 lake websites. These lake websites are visited by over 10,000 people a month. There is information on over 200 of our local Metro Detroit lakes.