Macomb County Real Estate Pricing Trend:

Price trends in Macomb County have a strong uptick from May 2019 increasing to 5.3% from last month, while YOY posted higher gain of over 11% appreciation, we expect that July will flatten this trend out considering median sale price in Macomb County has increased a whopping $25k since April. Macomb County Real Estate still has a very short sale cycle for sellers with a median of 11 days to get an acceptable offer. Sellers are also enjoying an average of 97.2% of original asking price toward the high end of the rolling 5 year average.


With pending sales back on the rise in June this year and out-pacing the new listing inventory... The market demand still needs more homes for sale if you have been thinking of listing call The Hartwig Team at RE/MAX Suburban to get a FREE market analysis for your home- 586-330-1248 or email us at sold@thehartwigteam.com

 

Inventory Update:

June Stats are in and show consistency in the market maintaining sellers with the upper hand. Inventory continues to rise modestly over May with 4% growth over last month.  Of the 1,204 pending sales in May, 1,021 of those closed in June which is slightly few closed sales compared to previous month, more notably down 8.6% from June 2018. Is this in indication of buyers losing interest or electing not to make the move? Pendings sales would indicate not the case as they have again risen in June by a sliver and significantly compared to June of '18. With back-to-back months rising in pending sales, it would be expected to see the number of closed sales rise in July. 

Bank Mediated sales have a modest decline that continues over the 5-year pattern, and our month's supply remains low (about 2 months supply depending on property types considered.) Months supply below 3 months is typically considered a Seller's market. So be prepared for competition still if you are out on the hunt for a new home.