The end of 1 month and the beginning of the next leads us to it being time for the Oakland County Real Estate Market Update discussion. 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 Oakland County. 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 -5 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.
We currently see 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 real estate pro in your corner. 😉 Don’t sleep on it or as they say it might not be there when you wake up. Hope you’ve enjoyed the Oakland County Real Estate Market Update for April. If you have questions, don’t hesitate to reach out!
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