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.
There are clearly fewer homes available and we don’t see the trend changing appreciably in the near future. The mild Winter kept buying traffic strong through the winter months and now with the Spring selling season kicking off, inventory is likely to remain limited.
One of the most common questions we get asked is, “on average, how long do houses sit on the market before being sold?” The average right now for the last 12 months is north of 100 days in our area. So why do some houses sell in a few days while others take months? It depends on 3 factors: First is the “Desirability” of the home in terms of location, layout, specifications, updates, presentation, amenities, etc. Second, is the pricing of the home relative to what buyers are paying for comparable homes. Third, is the knowledge, skill, hardwork, and relationships that your Realtor must apply in order to maximize the value of and to sell your home.
Hough Park, located in the City of Plymouth, Michigan, is a quiet, neighborhood park between Maple and Park Place, and McKinley, and Evergreen. This uncommon and unspoilt green space anchors the Hough Park Subdivision which includes Elm, Woodland Place, and parts of Linden and Ann Arbor Trail. Located within easy walking distance to town, these tree lined streets shade some of Plymouth’s most desirable homes. In Hough Park, you’ll find everything from the historic English Tudor built by the grandson of Lewis Cass Hough in 1927 ,to the magnificent Colonial homes on Maple, to the impressive restorations and additions throughout the neighborhood. In addition, you’ll see a range of Ranch and Cape Cod style homes as well. Built mostly in the 1940-1950’s with a few exceptions – both newer and older, Hough Park is also known as a wonderful place to just take a walk with your dog or stroller. From Spring through Fall, you can always see people young and old out enjoying the neighborhood. If you want to learn more about living in Hough Park, give Carrie a call at 734-788-2398.
