Home inventory is up as prices continue to rise
The number of homes on the market increased in November in metro Detroit, sparking hopes of easing the market crunch.
The number of new listings increased 5.1 percent last month compared to the same time the previous year, according to Realcomp.com. The number of new listings have gone up by 2.5 percent compared with 2020.
At the same time, median sales prices jumped nearly 10 percent from last year, prompting more people to sell.
Winter is a great time to buy despite the rise in prices and the inventory crunch. The competition is less in winter and the prices, though high, are still pretty close to market value.
Are you ready to sell and cash in on these great prices? Call 313-819-0101 for a free evaluation of your property.
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