Selling a Home

Plymouth and Northville Real Estate Values – the First Six Months of 2016 were Good!

| BAKE REAL ESTATE

It’s mid-summer and we now have data for the first six months of 2016! 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 new shops including the opening of Westborn Market. It’s heartwarming to see people walking downtown with their folding shopping trolleys on their way to do their grocery shopping! The City of Northville has also seen significant increases in value – especially in the downtown area where new businesses like Red Dot Coffee and the Center Street Grille have created a lot of excitement. The Townships of both Plymouth and Northville have shown very steady pricing and new development activity is on the rise once again in Northville Township.

Northville City Real Estate Values Northville Township Real Estate Values Plymouth City Real Estate Values Plymouth Township Real Estate Values

 

2014 Plymouth and Northville Real Estate Sales Price Summary

| BAKE REAL ESTATE

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

BAKE Real Estate: an Independent Brokerage with Historical Roots in Plymouth and Northville returns under the Stewardship of a New Generation

Image | | Carrie

bake real estate logo

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:

BAKE Real Estate
BAKE Real Estate 908 Penniman Avenue, Plymouth MI 47170

Northville Real Estate Values Continue to Increase in the first 4 months of 2014

| BAKE REAL ESTATE

Through the first 4 months of 2014, Northville real estate prices continue to surge upward.  Median sales prices for residential homes are now near or at pre-recession levels across the area – both the City and Township. The supply of resale homes also continues to show improvement in the Township while the City still suffers a shortage of available homes.  The data below clearly illustrates that values have continued to increase while the Township has shown a sharp increase in median sales price.  This is mainly due to more high value homes transacting vs. previous years. With prices increasing so high and so quickly, it’s difficult to predict how much higher the market can go.  So it’s more important then ever to ensure the home you buy truly meets your current and future needs in terms of location, functionality, and resale potential.

If you are considering buying or selling in the area and would like an informed, professional opinion from people who know the local market and how to buy and sell a home, click here to contact us.

Patrick Wong, Associate Broker – Coldwell Banker Weir Manuel

Northville City Median Sales Price
Northville City Median Sales Price
Northville Township Median Sales Price
Northville Township Median Sales Price

Plymouth Real Estate Values Continue to Increase in the first 4 months of 2014

| BAKE REAL ESTATE

Through the first 4 months of 2014, Plymouth real estate prices continue to surge upward.  Median sales prices for residential homes are now at pre-recession levels across the area – both the City and Township. The supply of resale homes also continues to show improvement as more sellers take advantage of near record level values. The data below clearly illustrates that values have continued to increase although not quite as sharply when compared to last year.  With prices increasing so high and so quickly, it’s difficult to predict how much higher the market can go.  So it’s more important then ever to ensure the home you buy truly meets your current and future needs in terms of location, functionality, and resale potential. I’ll have a similar view of the Northville market in an upcoming post.

If you are considering buying or selling in the area and would like an informed, professional opinion from people who know the local market and how to buy and sell a home, click here to contact us.

Patrick Wong, Associate Broker – Coldwell Banker Weir Manuel

plycity
Plymouth City Median Sales Price – Residential
Plymouth Township Median Sales Price - Residential
Plymouth Township Median Sales Price – Residential

2013 Northville Township Real Estate Value and Sales Summary

| BAKE REAL ESTATE

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2013 Northville Township real estate values reflect what the entire region has been seeing – steadily increasing prices. Since 2009, values have been  improving year over year. There are far fewer bank-owned homes and short sales impacting the market.  And, with the local economy improving dramatically, the annual cycle of new buyers combined with buyers who delayed buying during the recession, have created a very competitive real estate market.

If you are considering buying or selling a home in the Plymouth/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.

2013 Plymouth Township Real Estate Value and Sales Summary

| BAKE REAL ESTATE

Screen Shot 2014-01-08 at 11.37.59 AM2013 Plymouth Township historical real estate data verifies what we’ve seen all year – values have continued to increased steadily due to limited inventory of available homes. Prices are comparable to historical highs and the recovery has been swift.  With the local economy improving dramatically and the annual cycle of new buyers combined with buyers who delayed buying during the recession, the result is 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.

Both median sales prices and sales volume have recovered strongly to pre-recession levels. The number of sales has been increasing steadily for the past several years. If you are considering buying or selling a home in the Plymouth/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.

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2013 City of Northville Real Estate Value and Sales Summary

| BAKE REAL ESTATE
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

Happy New Year! 2013 City of Plymouth Real Estate Sales Summary

| BAKE REAL ESTATE

2013 historical real estate data verifies what we’ve seen all year – values have continued to increase steadily in the City of Plymouth due to limited inventory of available homes. Prices have rebounded to near historical highs and the recovery has been swift.  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 rather than supply/demand dynamics. We have also seen a dramatic increase in tear-down/new construction activity which is changing the area but also improving the tax base for the city.

While median sales price have recovered, sales volume continues to lag due to lack of inventory. The trends for number of sales and total sales volume have been increasing steadily for the past several years so if you are planning to buy, the momentum is with you. If you are planning to sell, there are still plenty of buyers out there. The charm of Plymouth continues to attract more and more buyers form the local area and out-of-state. We are even seeing international transferees shop the City of Plymouth to immerse themselves in a quintessential American small town setting.
If you are considering buying or selling a home in the Plymouth/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 & Carrie

Carrie Bake Interview in the Plymouth Observer and Northville Record

| BAKE REAL ESTATE

1463 SheridanThe Northville Record and the Plymouth Observer recently interviewed Bob and Carrie about their background and experience as Brokers in the area during the recent recession.   In the article, Carrie discusses how our team helped clients having to buy and sell in difficult times.  Many homeowners were faced with financial struggles during the recession making our responsibility as Realtors even more critical as people were forced to sell, relocate, or downsize. There isn’t an online version of the article yet but you can download a scanned copy here –> observer article.

City of Northville Home Values Sharply Higher in 2013

| BAKE REAL ESTATE

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206 W Dunlap Northville

This year in the City of Northville, we’ve seen a sharp increase in not just home prices, but also the number of homes selling above $500,000.  Prices haven’t surpassed the pre-recession peak yet but the trend is positive.  With the local economy growing and homeowners now more secure in their jobs and with their businesses, there are fewer sellers and more buyers. Buyers who were holding off on purchasing due to uncertainty about jobs and the economy have returned to the market.  While Sellers have recovered some or all of their equity and are in a better position to sell.

Data Source: RealComp

The BAKE Real Estate Group is Pleased to Announce the Addition of our Newest Team Member: Stephanie Brown, REALTOR

| Carrie

P4

We are pleased to announce Stephanie Brown is joining the BAKE Real Estate Group at Coldwell Banker Weir Manuel in Plymouth as an Associate REALTOR.

Previously, Stephanie led Front Desk duties at Coldwell Banker Weir Manuel in Plymouth supporting one of the area’s most productive Real Estate Brokerages. Now, she will be applying her Real Estate experience and recently earned Real Estate Salesperson license, to residential sales in the Plymouth-Canton, Northville & Novi Markets.

Stephanie is a 2009 graduate of Salem High School, in Canton, Michigan. She has proven to be very detail-oriented, calm under pressure, and hard-working – essential qualities for a successful career in real estate.

Stephanie will be training and working alongside 45-year industry veteran Bob Bake (Associate Broker), Bob’s daughter Carrie Bake (Associate Broker), and son-in-law, Patrick Wong (REALTOR), as she expands her Real Estate career. You will be seeing more of Stephanie around town showing houses, joining us at client meetings, and our Open Houses in the future.  Please join us in welcoming Stephanie to our team.

Stephanie can be contacted via email at stephanie@bobbake.com or on her cell phone at 734-620-4536.

The BAKE Real Estate Group, at Coldwell Banker Weir Manuel was founded by Associate Broker Bob Bake. Robert Bake Realtors, Inc. (established 1967) in downtown Plymouth, dominated the Plymouth/Northville real estate market between 1970 and 1996.  In 1996, Robert Bake Realtors merged with Coldwell Banker Schweitzer to create Coldwell Banker Schweitzer-Bake, located at 177 N. Main Street in downtown Plymouth. In 2009, Coldwell Banker Weir Manuel acquired Schweitzer-Bake and currently operates at the same Main Street office.