Southeast, Michigan: Over-Asking Offers Driving Up Prices

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Buyer demand remains strong despite supply, interest rate, price and property tax challenges.

Buyers are actively competing for listings, with 64% of April’s closed sales at or above asking price. This chart reflects sales that went under contract 30 to 45 days earlier. The market is following its usual seasonal pattern, nearing its peak for new listings and offers. Similar to a produce market, as the best listings fade, sales and prices will decline. Great listings will still appear throughout the year, but buyers need to stay vigilant and act quickly.

• Sales Even with Last Year
• AVG Sale Price +7%
• Listings Taken -2%
• New Pendings +1%

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Southeast Michigan

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Southeast, Michigan: Over-Asking Offers Driving Up Prices

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Buyer demand remains strong despite supply, interest rate, price and property tax challenges.

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Dana Cooper