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

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

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

 

Just Sold: 15412 Bay Hill Drive, 3 Bedroom, 2.5 Bath Northville Hills Golf Club Home Backing to Course

15412 Bay Hill, Northville Hill Golf Club
15412 Bay Hill, Northville Hill Golf Club

In an age where luxury is no longer by defined solely by sheer size, we’re especially pleased to announce the sale of our listing at 15412 Bay Hill in Northville Hills Golf Club.  This 3 bedroom, 2 car garage home backing to the 16th fairway and walking distance to the clubhouse, pool, and tennis courts sold at a price usually reserved for much larger homes. This reinforces the fact that time and resources spent on creating a better home is a worthwhile investment. And the best part is, you also get to enjoy your investment while you live there!  

Bay Hill is an excellent example of a Northville Hills Golf Club colonial with fabulous views overlooking the 16th fairway. The home has been meticulously updated and maintained with recently installed Brazilian teak hardwood flooring in most of main floor and 2nd floor including all the bedrooms, new stainless steel appliances, finished bonus room with built-in book shelves, crown molding & wainscoting, an upstairs loft, Trex deck, stamped concrete patio, walk-up daylight basement with rough-in plumbing, 2 furnaces/AC, short walk to the pool & clubhouse or tennis, spacious, flat grassy backyard space for outdoor activities, light-filled rooms & professional landscaping!  See the virtual tour at http://www.bobbake.com.

If you have a home to sell in the Plymouth or Northville, 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.  If you have a home to sell in the Plymouth and Northville area and would like a private consultation, please feel free to contact us to discuss your needs in confidence. We are specialists in the local area with the experience and knowledge to assist you throughout your home buying and selling process.

Just Listed: 15412 Bay Hill Drive, 3 Bedroom, 2.5 Bath Northville Hills Golf Club Home Backing to Course

15412 Bay Hill, Northville Hill Golf Club
15412 Bay Hill, Northville Hill Golf Club

(Update – this home has been sold) The Northville real estate market continues to build momentum as more buyers and sellers enter the market.  Good homes sell quickly – often with multiple offers, so pricing is crucial. If you are buying, knowing the market has never been more critical given how fast you need to act when the right house comes on the market.  

Staircase

We are excited to announce our latest new listing: Bay Hill is an excellent example of a Northville Hills Golf Club colonial with fabulous views overlooking the 16th fairway. The home has been meticulously updated and maintained with recently installed Brazilian teak hardwood flooring in most of main floor and 2nd floor including all the bedrooms, new stainless steel appliances, finished bonus room with built-in book shelves, crown molding & wainscoting, an upstairs loft, Trex deck, stamped concrete patio, walk-up daylight basement with rough-in plumbing, 2 furnaces/AC, short walk to the pool & clubhouse or tennis, spacious, flat grassy backyard space for outdoor activities, light-filled rooms & professional landscaping!  See the virtual tour at http://www.bobbake.com.

Living Room

If you would like to schedule a private viewing of this home or are searching for a home in Northville, 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.  If you have a home to sell in the Plymouth and Northville area and would like a private consultation, please feel free to contact us to discuss your needs in confidence. We are specialists in the local area with the experience and knowledge to assist you throughout your home buying and selling process.

2013 Northville Township Real Estate Value and Sales Summary

Screen Shot 2014-01-08 at 11.43.55 AM

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

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.

Screen Shot 2014-01-08 at 11.36.57 AM

2013 City of Northville Real Estate Value and Sales Summary

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

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

Just Sold: 48029 Colony Farms Circle – 2 Bedrooms Waterfront Condo in Plymouth Township

Exterior 2.JPGColony Farms Association in Plymouth Township is one of this area’s unique treasures with a storied history and a gentle balance of single family residences and condominiums – all enjoying the pastoral common areas, pond, and walkable streets. Some of the condos, like this one our client recently purchased, enjoy serene views of Walden Pond and the surrounding Willow trees.

Originally established in 1927 by a prominent Detroit doctor, the property developed as a vertically integrated weaving colony for shepherds, weavers, fabric designers,  interior decorators, distributors, and their families. In the 1970s, the property was  developed into the subdivision we have today. But elements of a farming past remain including the original barn, and Walden Pond mentioned above. Since the farm was not mechanized, the pond was dug using animal and human power to feed the crops and inhabitants of the farm. Looking out from the balcony of this condo, you would never realize that a thriving weaving and farming operation once took place here.