Michigan Home Values On The Rise
Your home is a safe and loving space, but there's also an economic side that certainly needs to be considered. A Northern Michigan home is an investment, and it's looking more and more like a strong one.
Sites like Zillow and the Michigan Housing Department show that values are trending upwards. Sustainable growth is an encouraging sign to people in the market or recent buyers, and that encouragement only helps to reinforce further investment. Michigan's home value has seen an increase of 7.4% in 2016, with an expected 3.1% gain in the next calendar year.
We're also very encouraged by the interest in the market and how quickly homes are moving. While it certainly varies by region, price point, and other factors, the average home is on the market for roughly 100 days in the state of Michigan. That's down from 126 days in February of 2013, and a great improvement from 143 in March of 2010.
Locally, we're seeing city housing prices rise much more quickly, with rural homes much more competitively priced. Price per square foot, included acreage and other factors often point to advantages to living just out of city limits, in addition to many other benefits to living in away from the hustle and bustle of the larger population centers. Some of our favorite properties are ideal investments, and if you're looking to invest and re-sell quickly, let us point you in the right direction.
The best indicators are that the housing market is only getting stronger in the state, which means your home investment is only getting safer. We're here to make sure you get a fair price on your house and understand everything that goes into the home-buying process.