August 2020 housing market update

August 2020 housing market update


New month, new update. Here’s your local housing market update for August 2020.

We’re still seeing the median sales price and the average sales price mostly trending up. At the same time, we’re seeing the housing inventory and the months supply trending down. So, what does this mean for you?

If you’re a buyer, make sure you understand there’s limited supply and another home may not be out there. If you’re a seller, price your home competitively to attract more buyers.

Novi
Plymouth
Plymouth Twp
Northville
Northville Twp

More Good News

Buyer Consultation
  • Review the home-buying process from start to finish
  • Discuss your home-buying goals and needs
  • Learn about buyer agency representation
  • Review current market conditions
  • Review available homes on the market
Schedule & Tour Homes
  • Apply for mortgage pre-approval
  • Receive customized home search via email and/or in person
  • Notified of any upcoming homes prior to coming to market
  • Review and select available homes to visit
  • Schedule private showings for interested listings
  • Receive listing handout for each home we visit
Contract Negotiations
  • Select home
  • Review comparative market analysis (CMA), seller’s disclosure, and supporting documents for home
  • Write offer to purchase and negotiate price and terms
  • Offer acceptance and earnest money deposited
  • Arrange for home inspection
  • Accept inspection results or request repair/remedy
Closing
  • Mortgage appraisal and mortgage approval
  • Final walk through (if needed)
  • Review closing documents
  • Coordinate closing date, time, location, and contacts
  • Close on sale of home
  • Provide copies of all closing documents