Looking back at 2021, we saw our local real estate market rise dramatically during the Spring as already strong buyer demand continued to strengthen while the the supply of homes for sale remained limited. The rise in home prices was making headlines across the country as buyers competed to buy whatever homes became available. Bidding wars ensued with Buyers resorting to extreme tactics in order to win including all-cash offers, waived inspections, free occupancy, and more. Our local market was no exception as prices rose but prices have been rising steadily since 2009.
The charts below illustrate 10 years of data for Plymouth and Northville and help put the changes of 2021 in some perspective. See the comments below each chart: