One week ago we looked at the Oakland County Real Estate Market Update For April. I think now it is time to review the Macomb County Real Estate Market Update for April. We’ll start with the year-over-year comparison of Homes for Sale from 3 years ago in April to the current year of April. You will notice from the graph below that inventory is down from the previous 2 years in Macomb County as it was in Oakland County. If you compare the inventory to the entire MLS you’ll see it is even lower than the rest of the area combined. That means if you’re on the fence about selling you should contact us to see what your options are. Less inventory means less competition. Take a look at our “Homes We Love” page to see how many listing of ours are already pending.
Next, we’ll look at the year over year New Listings in April as a comparison. Again, you’ll see a decrease in listings from 2016, 2017 to 2018. We are down -3.1 percent in new listings. So overall inventory is down AND new listings are also down.
The last graph we are going to review is DOM (Days on Market) and that again, will be 3 years of year over year comparisons for April. I believe going back 3 years gives us a really good overview of the current situation and in turn, helps us look at where things are heading.
Bottom line: We currently are seeing fewer homes on the market aka less competition and fewer days on the market aka selling quicker! Win-win if you’re a seller and if you’re a buyer than you better have a quick-acting and amazing negotiator in your corner. 😉
Hope you’ve enjoyed the Macomb County Real Estate Market Update for April. If you have questions, don’t hesitate to reach out!
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