The trend in inventory in the Birmingham market tracked that of the rest of the area - steadily downward. Hopefully that means we are working off the inventory overhang of foreclosed homes.
In Birmingham thus far this year 48 homes have sold, from a low price of $39,900 to a highest price of $2,300,000 (I told you it was pricey) with a median sold price of $279,950 and only averaging 93 days on the market. There are currently 269 properties on the market with a median listed price of $420,000 and an average of 200 days on the market. The highest priced house on the market in Birmingham right now is listed at $5,900,000. If you're in the market for an upscale house, this is one of the places in the area to look. I'll report on the even slightly more upscale Bloomfield Hills/Bloomfield Township area next time.
I've shown a number of Birmingham homes lately and they are always fun to see. Many of the large homes that have been on the market for a while are also for lease, if you'd like to try the area out first, before buying. Give me a call if you'd you think you'd like to see homes in Birmingham. And if you live there now and want/need to sell, give me a call, too. I'd be happy to give you a market analysis of what your home might be worth on the market today.
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Norm Werner is a full-time, full-service Realtor working out of the Milford office of Real Estate One, Michigan’s largest and most successful real estate company. To learn more about Norm or the local real estate market in the Milford, Michigan area visit one of his Web sites listed below:
For buyers and sellers – http://www.themilfordteam.com/
For first-time buyers – http://www.mihomebuyer.com/
For people moving to Milford, Michigan – http://www.movetomilford.com/
For people in distress with their home – http://www.mishortsales.net/
For people interested in the history of Milford Michigan, visit http://www.milfordhistory.org/
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