Main Content

Market Update for Birmingham, MI | May 2022

How is the real estate market in Birmingham, Michigan? Oakland County seems to be on fire as of lately. And believe it or not, it is not just Oakland County. The midwest have been featured time and time again across the internet and on major media outlets.

With so much information floating around, I will come to you with a market update periodically, so if you have any requests on what market I should include here next, make sure to send me a message.

These market updates are meant to be easy, simple, and fast to read so that you get only the information you truly need.

In Birmingham inventory is still historically low, however because of “greedy” sellers and their overpriced listings, we see days on market increase. Even if the market is hot, overpricing a home is still a recipe for disaster. Don’t do it.

Days on Market: 31
Homes for Sale: 81
Month’s Supply: 1.7 = this still indicates a Sellers market!

With rates rising, the fear Sellers should currently have is that your average buyer might pull back on buying or afford less than they currently can. Waiting to have your house on market could mean missing out on the “today”, still excited buyers.

This overvaluing of properties can also mean a shift on market conditions soon. Here is what the research at FAU and FIU concluded about the midwest, and Detroit specially when it comes to overpriced homes.

Ready to list? Click here to let me know.

Farmhouse for sale in Bloomfield Hills

Currently for sale 5343 N Adams Rd., Bloomfield Hills, MI

If you want to stay updated on the real estate market in Birmingham, Michigan or other locations, be sure to fill out your contact here.

Happy selling!

Click here to read other blog posts.

Skip to content