It's Back to School time already. Will the West MI housing market slow down now after a heated spring and summer?
Maybe a little, but don't look for it to fall asleep quite yet. It's been a strong year thus far with year-to-date average values up a whopping 10.1%. How long can that continue?
We're not sure but hope the trend doesn't last indefinitely. It's not good for buyers, especially first-timers, and it's not good for the real estate market as a whole. Too much upward inflationary pressure tends to create "bubbles" and unrealistic expectations from sellers on what the market can deliver.
One thing is certain: that 10.1% increase in values is not across the board at all price-points. It's mainly for homes $250K and under. Remember, market value varies school district by school district, and even neighborhood by neighborhood. Don't believe those overly-optimistic numbers on Zillow!
Planning on selling? Call us at 575-0140 or 437-0209 to book a pre-listing consultation. We'll help you get your home ready for market and project your closing costs and net proceeds.