Kevin, Other/Just Looking in Bloomfield Hills, MI

48302, seller or buyer market?

Asked by Kevin, Bloomfield Hills, MI Wed Jul 25, 2012

Help the community by answering this question:



Sellers market but with interest rates the way they are I would definitely say it is a win win for everyone!

Best of luck

0 votes Thank Flag Link Sat Feb 23, 2013
Far and away it's a sellers market. Properties that were foreclosed 8-16 months ago sub-$200K are now listed for $350K, $450K even $550K. Sure you can point to renovations and an "improving" market, but $173K > $475K? $183K > $558K? Come 'on.

These are top of the bubble prices, which goes to show, we haven't learned much.
0 votes Thank Flag Link Wed Feb 20, 2013
Kevin, interest rates are among the best ever. Thus the cost to finance has decreased allowing buyers to get more bang for their buck. Definitely a buyer's market from the finance aspect.
0 votes Thank Flag Link Thu Feb 7, 2013

Like most of the other comments, I believe it's a sellers market. If you're selling, now's the time. If you're buying, there are 2 things to consider.

1. Housing prices are still way down from where they were a few years ago and

2. Interest rates are still at all-time lows.

Let me know if you have any other questions.

Eric Michael

0 votes Thank Flag Link Thu Jul 26, 2012
Kevin -
Welcome to 2012 real estate - definitely trying to turn the corner to become a seller's market!!! In some areas, this change is astoundingly evident. For your 48302 zip code however, comparing the month of June 2011 to June 2012, data appears to be inching along instead - but definitely headed in this direction:

*Number of listings were reported down (1.56%)
*Volume of sales were reported down (7.41%)
*Median sales price was reported up at $278K (up from $230K)

*Figures as reported by our local MLS system

Obviously each property will create its own destiny if/when it enters the listed market. But this year in general if a property is appealling, it WILL sell very quickly. I would be happy to provide you a complimentary (property specific) snapshot of your market - please feel free to call/email me accordingly!!

Gail Corcoran
Century21 Town & Country
(248) 556-7463
0 votes Thank Flag Link Thu Jul 26, 2012
Hello Kevin,
Prices in the area have been rising since the end of 2010. It seems to be a sellers market right now. I don't know how long it's going to last as I keep hearing stories of a wave of foreclosures heading our way from all the forecasters predictions. It's definitely a solvers market currently. When homes are getting multiple offers and they're privately owned it is a good sign on the road to
0 votes Thank Flag Link Thu Jul 26, 2012
Definitely a seller's market for properties priced right and move in condition. Reason: There's no inventory!! Especially in Bloomfield Hills, Rochester and Troy.

0 votes Thank Flag Link Wed Jul 25, 2012
I have to say I agree with Maureen. If priced correctly and in good condition it's a sellers market.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes Thank Flag Link Wed Jul 25, 2012
I would call it seller as long as its priced correctly and in good condition.
0 votes Thank Flag Link Wed Jul 25, 2012
Maureen Fran…, Real Estate Pro in Birmingham, MI
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