MI Real Estate Prices Remain Up

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homeconstruction2-4

The real estate market continues to show gains in Michigan with the median sales price increasing 3% last month compared to September of 2017. Karen Kage with Real Comp told Michigan News Network the region continues to be a hot market.

“Inventory down, prices up, but I think we might see a change coming pretty soon,” Kage said. “I think after this season, and usually January 2, that first week of January is one of the busiest weeks we have all year with people waiting for after the holidays.”

Kage tells us the city of Detroit continues to be a hot market with sales up nearly 11% over last year. In southwest Michigan, prices have been up while inventory has remained in short supply.