Brighton MI sellers continue to enjoy getting top $$$ for their homes.
Take a look at the below numbers representing Year To Date figures through June, in comparison to 2022. Is there a change coming?
INVENTORY OF HOMES:
- Brighton Single Family Homes – New Listings through June 2022 = 94
- Brighton Single Family Homes – New Listings through June 2023 = 63
Down 33%, which is a main reason for the ongoing increase in home sale prices. The inventory is just still too low for the demand.
SALE PRICE:
- Brighton Single Family Homes Average Sale Price through June 2022 = $383,762
- Brighton Single Family Homes Average Sale Price through June 2023 = $417,339
Up 8.7%, which continues to support it being a Seller’s Market in Brighton.
There is data to support that buyers are beginning to shy away from the “highest & best” market. If you look at the days a home is on the market until sale, we are currently up 100%. This is based on the reported June 2022 Days On Market total being 19, and June 2023 Days On Market being 38. Also, the percent of list price received is down 2.5%. Sellers were getting 105.4% of their list price in 2022, compared to 102.8% through June of 2023. Another indication that overheated home prices are beginning to flatten.
Whether you are looking to buy or sell a home the key to your success is to hire a local real estate professional who is able to explain to you the facts about the current market AND how it may impact your decisions moving forward. Knowledge is critical, and it can put you ahead of the rest.
Partners Real Estate Professionals have been serving clients for many years, and have one of the most impressive track records for referrals. Contact them today to begin putting your plan in action. Call 810-220-7653 or share a communication here.
Learn more about the Brighton MI area and view the most up to date homes for sale.
Local Real Estate Market Statistics
Read the National Housing & Economic Forecast 2023’s Mid-year update, shared by Realtor.com
Brighton MI Sellers | June Report 2023 provided by Realcomp II | Presented by Partners Real Estate Professionals