2013 City of Northville Real Estate Value and Sales Summary

City of Northville Median Sales Price - 10 Year Trend
City of Northville Median Sales Price – 10 Year Trend

Last week we published price and sales data for the City of Plymouth.  This week, we turn our attention to the City of Northville just up the road.  In 2013, sales data for listed homes showed steady increasing values but also limited inventory. While prices have recovered, sales volume has not which reflects the lack of inventory buyers are faced with when shopping for homes in the City of Northville.

With the local economy improving dramatically, the annual cycle of new buyers combined with buyers who delayed buying during the recession, have created a seller’s market. Recently, supply has improved slightly and homes aren’t as likely to sell instantly but time on market is always more dependent on pricing than supply/demand dynamics.

If you are considering buying or selling a home in the Northville area in 2014, feel free to contact us and we’d be happy to discuss your plans and offer our help.  Please also visit our homepage at www.bobbake.com.

Patrick Wong, REALTOR