As we close out 2014 and celebrate another great year in Real Estate, it is a good time to pause and update the market. 2014 started out with strong demand outpacing supply of single family homes throughout the local market. Royal Oak, Clawson, Birmingham and Troy were particularly strong. As the year progressed we saw increased interest in Madison Hts and Ferndale for first time home buyers. Unit sales and median prices were consistently higher across the board through Labor Day. Since that time there has been a leveling off as inventory has increase and sales have either slightly declined or were about even. We expect this trend to continue into the new year but we should see a normal seasonal uptick as we move toward Spring 2015
The bottom line is, that whether you are upsizing, downsizing, relocating or just looking for a change it is still a good time to buy or sell.