First, let’s look at the Months Supply of inventory, which currently stands at 1.36. This is a low number, indicating a seller’s market where demand outweighs supply. This is further supported by the 12-Month Change i Months of Inventory, which has decreased by 36.74%. This shows a significant decrease in the number of available homes on the market over the past year, putting sellers in a favorable position.
The Median Days Homes are On the Market is 45, indicating that properties are selling relatively quickly in this market. This is likely due to the high List to Sold Price Percentage of 97.8%, showing that homes are typically selling close to their asking price.
Finally, the Median Sold Price of $270,000 demonstrates the current market value of homes in the area. This price, coupled with the low inventory and high list to sold price percentage, suggests that sellers may be able to achieve a favorable selling price for their property in this market.
In conclusion, the combination of these metrics paints a picture of a strong seller’s market with low inventory, quick sales, and high selling prices. As a seller, now may be a good time to list your property and take advantage of these favorable conditions.
Click here for a short video regarding Grand Blanc, Michigan.
If you are ready to list your home for sale, make sure you use a REALTOR that is experienced and knowledgeable in the current market trend.