2020 was a year like no other for many businesses including Real Estate. In March of last year, we were essentially put on hold during the Stay at Home order. There were still virtual showings, purchases, and closings but volume was down significantly. By May, the market was slowing reopening and people cautiously began listing and looking. Gradually, the market gained momentum as buying activity grew while supply remained limited. People aligned their real estate needs with working and learning from home. This usually meant larger homes with more amenities but also more outdoor space too. With travel, dining and entertainment expenses dramatically lower, people allocated budget to home purchase, renovation, and decoration. The result is a market with steadily increasing prices, growing demand and lack of choice. The charts and data below from last year and into this year, clearly illustrate many of these trends.
In terms of 2021, it’s impossible to predict what will happen but we do know that Plymouth and Northville remain very desirable places to call your home and your home has never been more important! And with the Superbowl behind us, people usually start to turn their attention to getting their home ready to sell or start preparing to buy their next home. We look forward to 2021!
Plymouth and Northville Months of Inventory – Last 5 Years by Month
Plymouth and Northville Number of Active Listings – Last 2 Years by Month
Plymouth and Northville Number of Pending Sales – Last 2 Years by Month
Plymouth and Northville Number of Sales – Last 2 Years by Month
Plymouth and Northville Number of New Listings – Last 2 Years by Month
The data above is based on Realcomp residential and condo sales for Plymouth and Northville, Cities and Townships,.