Plymouth and Northville Real Estate Values – the First Six Months of 2017 Show Continued Price Growth

It’s mid-summer and we now have data for the first six months of 2017! Our markets of Plymouth and Northville, both City and Township, remain strong and steady. The charts are fairly self-explanatory and locals know how intense the market is around us. The City of Plymouth continues to increase in value as the downtown area flourishes with busy shops, restaurants, and events.  The City of Northville has also seen significant increases in value while the number of new listings remains low across the region. The Townships of both Plymouth and Northville have also shown steady price increases in addition to growing new development activity – especially in Northville Township. The lack of inventory as shown below illustrates that in an area where there is limited opportunity for new development, the price of existing homes will appreciate in a strong market.

 

Plymouth and Northville New Listings

2017 Plymouth Art in the Park – A Local Summer Favorite on July 7-9th, 2017 in the City of Plymouth!

It’s that time of year again, where the artists move in and showcase their talents to people that come from all over Metro-Detroit and beyond. Art in the Park is July 7, 8, and 9th!

Come one, come all, to enjoy Plymouth’s Art in the Park!

For more information on the event, transportation, maps & sponsors, visit their website by clicking here.

Northville Arts & Acts Festival This Weekend: June 16th to 18th, 2017

The Northville Art House shines a spotlight on the imagination, art, talent and cultural diversity of artists throughout the region when the annual Arts and Acts Festival returns for the sixth consecutive year June 16-18 in historic downtown Northville. The Festival includes the 29th annual juried fine art show Art in the Sun, featuring over 70 talented artists;  the Sandbox Play Festival produced by Tipping Point Theatre; the Short on Words Literary Contest; musical entertainment featuring some of metro Detroit’s top musicians; Children’s Activities; the Northville Art House Chalk Festival; our new Young Artist Juried Art Fair; and a large variety of festival food and drink.

Friday, June 16:         3:00 p.m. to 8:00 p.m. 

Saturday, June 17:     10:00 a.m. to 8:00 p.m.

Sunday, June 18:        10:00 a.m. to 5:00 p.m.

Main and Center Streets, downtown Northville, Michigan

For more information, click here.

 

 

College for Creative Studies establishing Art and Design Programs at the Plymouth Arts & Recreation Complex (PARC)

It’s an exciting time for Plymouth with the College for Creative Studies (CCS) of Detroit establishing programs at the Plymouth Arts & Recreation Complex (PARC).  This morning, we met with representatives from the College and discussed their plans going forward.  With the support of the Margaret Dunning Foundation, CCS plans to provide pre-college, college credit, continuing education, and other art and design related programs within the PARC facility.  CCS is one of the world’s premier art and design institutions with an especially well regarded Transportation Design program with graduates working in automotive design studios around the world.

Look for more information about CCS programs at the PARC over the next few months including at Art in the Park.

Saxton’s Site Redevelopment Plans

screen-shot-2017-01-30-at-8-48-15-amThe old Saxton’s site at the corner of Ann Arbor Trail and Deer could see redevelopment very soon.  Currently being employed primarily as a parking lot, there are now 3 proposals  being considered to redevelop the site into low rise residential, retail, and parking. To learn more about the plans and proposals, you can see the presentations by clicking on the following link:

http://www.ci.plymouth.mi.us/CivicMedia?VID=102%20

Here is a wonderful piece that highlights the life and work of William A. Bake (Bob’s brother) of Plymouth and Northville

View story at Medium.com

2016 Plymouth and Northville Real Estate Values Continue to Show Strength and Steady Growth as Inventory Remains Low

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We now have the full year of 2016 data and average price trends in the Plymouth and Northville markets have continued their upward climb. This should come as no surprise to those who live here and have witnessed the market first hand.  But it’s nice to see the supporting data that shows prices have indeed kept rising. I’ve split the data by City and Township for both Plymouth and Northville single family homes with comments and observations below each chart. You’ll find a 5th chart that illustrates the inventory of active listings in Plymouth and Northville remains very low. As always, you can refer to our website’s front page to see what our listings and buyer sales close for. If you would like additional market information or a valuation of your home, please complete the form at the end of this article.

City of Plymouth Average Sales Price: Single Family Homes Last 10 years: Another Record Year

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Click to Enlarge: City of Plymouth Average Sales Price

The City of Plymouth real estate market continues to reach higher and higher heights as people are attracted to our walkable neighborhoods and city center. Prices are setting new records with bidding wars being commonplace for the more desirable homes and locations – however, it’s not every home that sells for a premium. Location, condition, presentation, marketing, functionality, updates, and pricing all determine how fast and how much a home will sell for.

We are seeing people from all over the metro Detroit and Ann Arbor area choosing the City of Plymouth whether they are first time or last time buyers. Buyers are cross shopping Plymouth and Ann Arbor more often as well as the Ann Arbor market can be even more competitive.  New construction activity has also been transforming  parts of the City resulting in a community response that resulted in new rules for new construction. How the new Floor Area Ratio ordinance will affect the market remains to be seen but I expect Plymouth will be just as desirable, if not more desirable, as before. If you split out new construction homes from the data, the average price is still trending significantly higher year over year. And based on the actual activity we are seeing on the ground, this upward trend should continue through 2017 barring any unforeseen shock to our local economy and the automotive industry in general.

Township of Plymouth Average Sales Price: Single Family Homes Last 10 years:

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Click to Enlarge: Township of Plymouth Average Sales Price

Plymouth Township prices have also remained steady and strong although the market is less robust than in the City. For buyers who prefer a little more house for the money, a lower property tax rate, a larger home and/or property, or prefer to just have more privacy and space between homes, the Township offers a wide range of established neighborhoods and homes with acreage, nearby parks, and proximity to the City. We have also seen quite an increase in inbound relocation buyer traffic moving to the Plymouth area where the schools, prices, proximity to the City of Plymouth, DTW, metro Detroit, and Ann Arbor all help to make the Plymouth Township very attractive.

City of Northville Average Sales Price: Single Family Homes Last 10 Years:

City of Northville Average Sales Price: Single Family Homes Past 10 Years
Click to Enlarge: City of Northville Average Sales Price

The City of Northville has also shown a remarkable recovery from the Recession.  Prices are very strong with homes selling off market or very quickly on market at higher prices. The tear-down/new construction activity is here as well although not as pervasive as in Plymouth. Northville has a much larger Historic District where home demolition is severely restricted.  The business district continues to thrive with new restaurants, coffee shops, retail stories, parks, events, while the quiet, historic, walkable neighborhoods continue to attract buyers who appreciate all that Northville has to offer. The feel of the downtown is different from Plymouth so we always encourage our clients to spend time in both to see for themselves. If you are looking for a home in the City of Northville, we recommend patience and perseverence.

Township of Northville Average Sales Price: Single Family Homes Last 10 Years:

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Click to Enlarge: Township of Northville Average Sales Price

Northville Township prices have recovered steadily and there are pockets of new construction on the few remaining empty lots and even new projects on previously undeveloped land. The redevelopment of the old Women’s Prison will take place adding more residential, shopping (and traffic) to the Beck Road and 5 Mile area. One of the drivers of Northville Township real estate market over the past year is inbound corporate relocation activity. We see a steady of flow of transferees either moving to or moving back to the area. Larger, newer homes with community amenities, parks, and highly regarded schools have made Northville Township a safe and reliable choice for many buyers. As with Plymouth, the location is ideal for proximity to everything in metro Detroit, Ann Arbor and the downtowns of Northville and Plymouth.

Plymouth and Northville Number of Active Listings: Homes and Condos Last 10 Years by Month:

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Click to Enlarge: Plymouth and Northville Number of Active Listings

With demand for Plymouth and Northville continuing to drive our market and a limited supply of new construction inventory, real estate is going to remain a sellers market. The dramatic decline in the number of active listings on the market at any given time since the recession clearly indicates how competitive the market is, why prices are going up, and how difficult life can be if you are trying to buy in Plymouth and Northville.

If you have any questions about the material above or just want to discuss your real estate goals with us, please contact us by completing the form below and we will respond to your query promptly. We specialize in our local market and can provide the professional expertise and experience necessary to guide you through the process.

Neighborhood Spotlight – Sunflower Village of Canton

6592 MarshallIf you’re looking for a neighborhood full of community spirit that just feels like home, look no further! Nestled on 70 peaceful acres along Warren Road between Beck and Canton Center, you’ll find one of Canton’s most sought after communities – Sunflower Village. A sizable yet close-knit neighborhood of 1683 homes constructed from the late 1970s through the 1990s, Sunflower Village offers colonial, ranch and split-level homes ranging in size from approximately 1400 to 2800 sq. ft. Many of the homes here enjoy private, wooded rear yards. All residents will always enjoy the serene and beautiful views of nature, as the surrounding woods and natural areas within Sunflower Village are protected by the Wayne County Forestry Act.

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Residents of Sunflower Village also enjoy two swimming pools and a kiddie pool staffed with lifeguards, tennis and basketball courts, plus two clubhouses for private events. Getting to know your neighbors is easy to do here, with so many organized activities throughout the year, including an Easter egg hunt, a summer picnic, garage sales, holiday decorating contests, pool parties, a bicycle parade, book club and so much more!

Another key reason people choose Sunflower Village is for the highly acclaimed Plymouth-Canton Community Schools. Canton is also home to Plymouth Christian Academy, Canton Charter Academy and Plymouth Scholars Academy. Living in Sunflower Village, you are a just a few short miles from Summit on the Park, which is Canton’s community center featuring an indoor Aquatic facility, fitness center, aerobic & dance studios, indoor track, sauna, steam room, two banquet facilities and an outdoor splash park, offering year-round programs and activities for all ages.

Sunflower Village is also convenient for those of us who like to shop, dine, and have fun, with the nearby amenities along Ford Road, including Michigan’s only IKEA store. Its ideal location is close to Downtown Plymouth, Ann Arbor, and freeways M-14, I-96 and I-275.

When you’re looking for your Sunflower Village home, BAKE Real Estate can help! We know the neighborhood – some of our firm’s sales within Sunflower Village include:

7554 Claremont Street 4BR 2.1BATH Colonial with 2,370 sq. ft.

45996 Larchmont Drive 4BR 2.1BATH Colonial with 2,450 sq. ft.

6592 Marshall Street 3BR 2BATH Ranch with 1,587 sq. ft.

For more information, contact Sorra Scott, REALTOR, at sorra@bobbake.com or 734-664-2578.

 

2017 Plymouth Ice Festival:

The 2017 Plymouth Ice Festival is coming the weekend of January 6th through 8th in Downtown Plymouth centered around Kellogg Park. You’ll be able to see amazing ice sculptures throughout downtown – plenty of fun for the whole family.  Seeing the festival after dark is something that you should try if you haven’t already.  Here are some photos from past years when they had an ice bonfire that lit up the night sky. For more information, go to www.plymouthicefestival.com.

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The Ice Festival is one of several street festivals in Downtown Plymouth that take place throughout the year. The area is very walkable with plenty of parks, shops, restaurants, and entertainment – along with plenty of parking. Plymouth also has beautiful residential tree-lined streets with lots of gorgeous historic homes making it one of the area’s prettiest and most walkable small towns. plymouthicefestival-penn-patrickwong