Macomb County Michigan: Is this a good time to sell?

By: Rick Giese RE/MAX First
 
CLINTON TOWNSHIP, Mich. - Aug. 28, 2020 - PRLog -- We were recently asked the question if now is a good time to buy, but what about the other side of the coin?

When we first saw friction in the real estate market, it's fair to say many buyers thought there would be an increased opportunity to negotiate and lock in a home purchase at a significant discount.

While that may have been true for some, the latest data shows it may be an exciting time for clients who are interested in selling, too.

Here are a few recent stats to consider:

According to Zillow, the median list price for homes in the U.S. continues to rise, sitting at an average of $343,680 which is 6% higher than last year.

Depending on their local market, clients may have less competition, as inventory remains low and pent-up demand remains unmet. In the same Zillow report, "Sellers have been slow to return...some possibilities include reluctance to having strangers tour their home [and] an inaccurate assumption that they couldn't sell for a high price right now."

On that note: Doug Duncan, chief economist at Fannie Mae confirms, "Supply constraints...has contributed to both a sharp reversal in optimism about whether it's a good time to buy a home and further improvement in home-selling sentiment."

Recently, homes that were under contract were typically on the market for 14 days. Compared to last year, that means they moved 11 days faster, further indicating a red-hot market!

Have you thought about selling?

When you are ready, we can help you. Looking to sell looking to right size or move up! Contact me Rick Giese at RE/MAX First at 586-242-3100 or email rick@rickgiese.com today for more details.

As always, reach out to me Rick Giese via phone 586.242.3100, email rick@rickgiese.com, or Facebook MacombCountyLifeStyles.com If you have questions about this or any other real estate topic. I'm happy to help!

#rickgiese #remax #remaxfirst #macombcounty #michigan #realestate #homevalues

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Tags:Sellers Market
Industry:Consumer
Location:Clinton Township - Michigan - United States
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