Evidence from the Michigan real estate market indicates that the luxury home market is benefiting from tight inventories and rising prices. In a comeback for the Michigan real estate market, a shortage of home inventory is contributing to rising prices, new construction, and frustrated buyers who are finding themselves unable to make a successful offer. However, the trend is not limited to the $500,000 and lower price point, and not even to the normally "hot" markets that make the nightly news shows. Luxury home buyers all over the country are increasingly hitting the bid out of fear that the perfect dream home will get away from them. The West Michigan real estate market has gone from 6.9 months of inventory back in 2012 to 1 month in 2013. For homeowners who are wanting to sell, especially million-dollar-plus homes, this may be the perfect opportunity. Buyers definitely need to act more quickly than they did this time last year if they want to make a successful offer.
Holly Hurd is a REALTOR with Coldwell Banker Weir Manuel in Northville, Michigan 48167
hollyhurd@hotmail.com
www.Northvillehomes4sale.net
Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs
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