2014 Plymouth and Northville Real Estate Sales Price Summary
2014 saw the average sale price for a residential home in the Plymouth and Northville markets continue to increase. In the City of Plymouth, the average sales price has risen for 4 consecutive years reaching new highs. The average sales price of a single family home in the City of Plymouth is now 63% higher than in 2010. The City of Northville has also reached near pre-recession highs with the average sales price increasing 70% since 2009. In the Township areas, Both Plymouth and Northville Townships have also seen steady price increases but have yet to surpass pre-recession highs. Price growth has been steady and the trend is higher across the board.
The dramatic increase in real estate value in the local area has reignited new construction activity. In the City, we are seeing smaller/older homes demolished and larger homes built in their place. In the Township, we are seeing farms and empty lots replaced with new residential and commercial building activity. The street scenes and landscape are changing!
And as we look forward to 2015, all indications are that prices will continue to rise albeit at a more conservative and sustainable pace. Interest rates remain low while interest in moving to Plymouth and Northville remain high.
City of Plymouth 10 Year Average Sales Price Trend
City of Northville 10 Year Average Sales Price Trend
Township of Plymouth 10 Year Average Sales Price Trend
Township of Northville 10 Year Average Sales Price Trend
First-Time Home Buyer 101: Five Ways to Jumpstart your Home Search in 2015
Buying a home is anything but a passive process. You must align yourself with a reliable team and take an active role in the process with plenty of communication with both your household members and your real estate team.
Here are five things to think about to get started:
- Find a Local REALTOR in the area of your desired home. A local real estate professional will have knowledge of the schools and neighborhoods in the community in which you’re searching. They can help you determine which neighborhood or street is the best fit for you based on your wants and needs. When your Realtor lives and works in the community, they know it best and can pass on their first-hand knowledge to you.
- Talk to 2-3 lenders (local ones, ideally) and pick one to obtain a Pre Approval. Interviewing multiple lenders is an important step. You want to find someone with whom you’re comfortable discussing your finances and personal information because you will be entrusting them to finance the biggest purchase of your life – so far. It’s also very important to find a lender who will be available to you when you need them, during business hours and beyond. Pre-approvals help gauge how much you can comfortably spend on your home. Local lenders are hopefully easier to meet in person and will understand the area in which you’re buying.
- Spend time in the towns and neighborhoods you’re considering. Going to open houses is a great way to familiarize yourself with the local neighborhoods and home styles. Visiting open houses does not require a pre-approval letter, but it’s recommended to look within your price range. Filling your weekends with open house tours will increase your knowledge of the local market and help you determine what you can get for your money. It’s also important to visit the towns/cities you want to live in and experience the festivals, events, restaurants and shops. You can learn more about the area, meet the locals, and find out what you can buy for your money
- Work your travel plans around house hunting so that you are available when the right house comes up on the market. Good houses go fast, especially in more affordable price ranges. You want to be able to be the first in the door when a good house gets listed, especially during the spring and summer months when there are more buyers searching for homes. The early bird gets the worm!
- Make sure you have prioritized your needs and are realistic based on your price range and the level of competition in the market. You could miss out on the right home if you narrow your search too much. Keep an open mind and trust your REALTOR’s suggestions. Make sure your Realtor knows your deal-breakers, but keep them realistic. Competition has become common lately for good homes, so working with a local expert who is skilled at negotiating and writing offers will put you ahead of the pack.
There are many more items to think about but if you have a good REALTOR they will help you navigate the process and keep you on track to get your ideal next home!
BAKE is Back!
2015 Plymouth Ice Festival – January 9th-11th
The 2015 Plymouth Ice Festival is coming the weekend of January 9th through 11th 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 last hear when they had an ice bonfire that lit up the night sky. For more information, go to www.plymouthicefestival.com.
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 small towns. If you want to learn more about buying or selling a home in Plymouth, please visit our official homepage at www.bobbake.com.
Minecraft Home for the Minecraft Founder
Here’s a fun real estate video of a different sort. The founder of Minecraft (‘Notch’) is purchasing a $70 million Beverly Hills home. The home comes with a very polished video which you can see below but it wasn’t long before someone crafted a replica which you can see above.
BAKE OPEN HOUSE SUNDAY DEC. 7th 1-4PM: 540 Orchard Drive
OPEN HOUSE this Sunday 1-4pm: Elegantly appointed, present day living with the vintage charm and appeal of a classic American small town . Meticulously transformed in 2011 by the current owners, the completed home now enjoys 3,472 sq. ft. of finished living space on 3 floors. The features and upgrades are many, including an Open Concept Kitchen and Family Room, Stainless Steel appliances, Quartz Countertops, Shaker Style Cabinetry, Hardwood Floors, Covered Front & Rear Porches, Generous Rear Yard space, custom woodwork, reclaimed pillars & built-ins abound, 2 ½ Car garage with Walk-up Bonus Room, First Floor in-law Suite – this home offers the consummate blend old house warmth and new house comfort. Located on a tree-lined street within easy walking distance to downtown Northville’s parks, shops, entertainment, events, and restaurants.
For more information about this home, please visit our Plymouth and Northville Real Estate homepage at www.bobbake.com or simply contact Carrie, Associate Broker, at (734) 788-2398 – carrie@bobbake.com, Patrick, Associate Broker,at (734) 272-8375 – patrick@bobbake.com, or Stephanie, REALTOR, at (734) 620-4536 – stephanie@bobbake.com.
BAKE Real Estate: an Independent Brokerage with Historical Roots in Plymouth and Northville returns under the Stewardship of a New Generation
Yesterday marked the creation of BAKE Real Estate in my hometown of Plymouth. Many of you locals know of Robert Bake REALTORS, which my dad established in 1967. BAKE is BACK! We are happy to keep the real estate tradition alive. Our new office is located at the corner of Penniman and Harvey (908 Penniman) and kitty corner from the new Post Office. Nearly 50 years ago, the following ad appeared in Plymouth and our commitment holds as true today as it did then:
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“Dedicated to serving the Plymouth and Northville community in the capacity of extending the finest possible real estate service beyond simply being a commercial enterprise. There is one thing about a well run service business: it always attracts but never has to cry for attention. We sincerely intend to remain a firm committed to the highest standard of personal service combined with dedicated professionalism.”
Carrie Bake, Broker/Owner BAKE Real Estate
Northville Holiday Lighted Parade Friday November 21st 6:30pm
If you can’t beat winter, then may as well join in and embrace it! Northville has unique parades through the downtown including the Victorian Festival and the upcoming Holiday Lighted Parade, which kicks off the holiday season with music, merriment and warm drinks amidst the hometown Americana atmosphere of Historic Downtown. Fun for all ages, this year, the parade will be Friday, November 21st at 6:30pm.
Kona Chocolate Run! Downtown Plymouth on Sunday, November 16th
Bundle up this weekend and show your support to the participants of the Kona Chocolate Run in Downtown Plymouth. The races are presented by Saint Mary Mercy Hospital in Livonia and feature a 10k, 5k, and Cocoa Mile. Cozy up after the race at the heated warming tent next to 2 large chocolate tents full of hot cocoa, chocolate milk, chocolate fondu and more! Event donations will be made to the Barbara Ann Karmanos Cancer Institute, University of Michigan C.S. Mott Children’s Hospital, Leukemia and Lymphoma Society, and Plymouth Parks and Recreation. For more information on the run, registration, volunteering, etc. visit the Kona Chocolate Run website. It’s not too late to register!
(Sold) Our New Listing in Downtown Plymouth: 1463 Sheridan St – 4 Bedroom, 2.1 Bath, 2600 Sqft Colonial – Updated and Expanded
(Update: this home has been sold) We are pleased to announce our latest new listing: an elegant, downtown Plymouth center-entrance 1920’s Colonial. Contemplate the classic charm of a character home with new house updates including an open concept Kitchen. Completely remodeled in 2010, the gourmet kitchen is equipped with Shaker style custom cabinets, granite countertops, subway backsplash, breakfast bar, hardwood floors, and high-end stainless stainless appliances. There is a new ½ bath on the main floor & two other full baths – both newer, two fireplaces – gas log in Living Room & natural in Family Room, Arched doorways, beautiful painted trim and crafted details throughout. All bedrooms are upstairs with a newer master suite overlooking rear yard and patio. The Basement includes a cute and spacious finished recreation room, laundry room & unfinished storage/workshop. Outside, there’s an extra storage shed, 2-car garage with new windows, fenced rear yard and recently re-landscaping front and rear yards. Walk tree-lined streets to Bird Elementary, West Middle School, OLGC & Plymouth events, shops, restaurants & parks!
For more information about this home or about buying/selling a home in Plymouth and Northville, visit us at www.bobbake.com or simply contact Carrie, Associate Broker, at (734) 788-2398 – carrie@bobbake.com, Patrick, Associate Broker,at (734) 272-8375 – patrick@bobbake.com, or Stephanie, REALTOR, at (734) 620-4536 – stephanie@bobbake.com.
City of Northville and Northville Township Real Estate Values Continue to Rise in 2014
It’s time once again to recap sales trends in our area with the Summer selling season now behind us. The City of Northville and Northville Township real estate markets continue to show good demand, limited supply, and consequently – steadily rising prices. Median sales prices for single family homes and condos are up again this year and near pre-recession highs.
If you live in the City of Northville, I’m sure you’ve heard your friends and neighbors talk about a house that sold quickly while another does not. Not every home will sell instantly for a high price – especially in the higher price ranges where there are fewer buyers and the selling process can take longer. A home may also be priced too optimistically and may need a price adjustment to capture a buyer.
In the Township, prices are up while more supply is starting to come online. There are also more new construction options available as new developments begin to break ground.
Will the market go even higher in 2015 is something we can’t predict but there doesn’t appear to be any let up in demand at the moment.
If you would like to discuss buying a home in Northville – City or Township, please contact us and we would be happy to assist you: Carrie Bake, Associate Broker, at (734) 788-2398 – carrie@bobbake.com, Patrick Wong, Associate Broker,at (734) 272-8375 – patrick@bobbake.com, or Stephanie Brown, REALTOR, at (734) 620-4536 – stephanie@bobbake.com.