A look at Metro Detroit’s hot real estate market
Real estate agents claim offers come flooding in within hours of a new listing. While sellers are reaping the rewards, buyers are having a hard time to get their foot in the door. RELATED: Metro Detroit real estate market: Buyers beware in spring-summer 2021For those house hunting, they already know the struggle. Dan Elsea, with Real Estate One, said it’s the best time to sell a home in Michigan in nearly 40 years. More: Real Estate news
Metro Detroit real estate market: Buyers beware in spring-summer 2021
Real estate during the pandemic has been a challenge in itself, but now there’s a new challenge: Inventory lows are now down to a one-month supply. You also have had existing homeowners that have taken advantage of the low interest rates and have refinanced,” said Schneider. Macomb County homes are selling the quickest, selling in less than a month on average. “It’s been a bit of a tightrope act, you know, as far as do you buy first and then put your house on the market? In this market, you can probably get away with that as a buyer-seller a little bit easier -- go find what you like, put your offer on that.