Jennifer Tremaine is a top-performing Michigan actual property agent. With 21 years of expertise, and being a licensed divorce specialist Realtor, she acknowledges that some householders coping with life adjustments could profit from the velocity of an all-cash sale, however cautions: “Whenever you’re working with companies that buy houses for cash, sellers should watch out for hidden costs.”
It’s all the time vital to rigorously vet the corporate and perceive the phrases of your contract. Many prime brokers like Tremaine will encourage sellers to seek the advice of with an skilled native agent earlier than committing to a cash-for-homes firm.
Choice 2: Rent a prime Michigan actual property agent
When time is of the essence, choosing a seasoned actual property agent can nonetheless show to be a strategic transfer in Michigan’s numerous property panorama. An skilled agent’s grasp of the Michigan housing market’s subtleties can information you to a swift and affluent sale. They will deal with all the things from staging your private home to negotiating one of the best deal to spice up proceeds, even below a decent schedule.
Let’s take a look at the present Michigan market situations, discover the advantages of partnering with an actual property skilled, and discover ways to join with a top-performing agent in your native Michigan space.
How briskly are properties promoting in Michigan?
In Michigan, the median days on market (DOM) — the time from itemizing a house to having a signed contract — can vary from 9-61 days, relying on the season, location, and situation of the property. Nonetheless, when making shifting plans, sellers additionally must bear in mind the extra 44 days a mortgage-backed purchaser sometimes wants to shut on a purchase order mortgage.
Evaluating 2023 to 2024, we observe a rise within the common DOM for Michigan properties. For instance, in June 2023, the common DOM was 9 days, which prolonged to 34 days in June 2024. Nonetheless, in September 2024, properties spent a mean of 43 days available on the market, which is across the identical variety of days in 2023. Regardless of these slight will increase, the Michigan housing market stays pretty brisk, with properties usually touchdown a purchaser inside two months of itemizing.
In the case of pricing tendencies, we see an upward development in 2024. The median sale worth peaked in July to August of 2023 earlier than a slight correction for the remainder of the 12 months. Nonetheless, the median sale worth has steadily elevated month over month in 2024, with the median at present at $260,000 as of June. General, it suggests a powerful and lively Michigan housing market.
The next knowledge tables present a extra detailed image of DOM tendencies by month, in addition to sale worth tendencies throughout Michigan. (Supply: Federal Reserve Financial institution of St. Louis, ATTOM)
Median DOM tendencies in Michigan
| Month | Common DOM (2023) | Common DOM (2024) |
| January | 29 | 61 |
| February | 28 | 55 |
| March | 21 | 45 |
| April | 14 | 40 |
| Could | 10 | 33 |
| June | 9 | 34 |
| July | 36 | 39 |
| August | 38 | 39 |
| September | 42 | 43 |
| October | 44 | |
| November | 46 | |
| December | 56 |
Doesn’t embody the everyday 44 days a purchaser wants to shut on a purchase order mortgage.
Median sale worth tendencies in Michigan
| Month | Median Sale Value (2023) | Median Sale Value (2024) |
| January | $185,000 | $220,000 |
| February | $195,000 | $226,500 |
| March | $205,000 | $240,500 |
| April | $214,900 | $245,000 |
| Could | $234,000 | $257,000 |
| June | $242,000 | $260,000 |
| July | $250,000 | |
| August | $250,000 | |
| September | $249,990 | |
| October | $240,000 | |
| November | $231,500 | |
| December | $230,400 |
Advantages of promoting with a prime Michigan agent
Partnering with a prime Michigan agent can considerably expedite the home-selling course of whereas making certain optimum outcomes. Let’s delve into among the key advantages of utilizing a seasoned actual property agent, particularly within the context of a speedy dwelling sale:
