2020 Year End Market Report

2020 was certainly a year we won’t forget anytime soon. But it was a very successful real estate market in southeast Michigan.

Mortgage rates were at historic lows and the average sales price increase by 9.1%.

Here are the highlights…

NEW LISTINS

PENDING SALES

CLOSED SALES

YEAR END INVENTORY

AVERAGE SALES PRICE

BOTTOM LINE

2020 was a crazy, but successful year.

All indications are that 2021 will follow in 2020’s foot steps. Interest rates are expected to stay around 3.0% and the number of units sold and the average sales price are expected to rise.

Inventory will be the driving factor in 2021.

Data compliments of Realcomp II Ltd. 2020 Southeast Michigan Report | ShowingTime