PLYMOUTH (WWJ) — If you are thinking about selling your home, now is the time to do so, according to a local retail expert. Jeff Glover with Keller Williams Realty said that southeast Michigan’s housing market may become saturated by next spring.
Numbers for year-over-year home sales have looked good as of late for southeastern Michigan, but Glover believes that will soon change.READ MORE: Local Health Departments Prepare As Pfizer's COVID-19 Vaccine For Kids 5-11 Near Approval
“If you look at our inventory level of September of 2014 versus August of 2014, that number has gone up,” Glover said. “And if that number continues to go up, homes will be worth less in the spring if they continue to rise at the rate they are going up right now.”READ MORE: Doctor Accused Of Hoarding Dead Kittens In Her Freezer
The average sales prices were up 15 percent last month compared to September 2013. Glover said that the Metro Detroit area is a good indicator as to how the region is doing.
“I’m not saying that it’s going to be a buyers market, but certainly it’s going to be balanced,” Glover said. “For the last three years it hasn’t been balanced, it’s been a seller’s market and I don’t think we’re going to see a seller’s market next year, that’s for sure.”MORE NEWS: Michigan Reports 7,867 New COVID-19 Cases, 142 Deaths
Sales in the region dropped more than two percent over last year, that figure includes all counties minus the city of Detroit.