The relationship between inventory and price is as follows; as inventory rises, home prices drop. This is evident when we look at the real estate market in St. Clair shores over the last 6 months.
As you can see from the chart to the left, inventory of available homes in St. Clair Shores has been rising since the summer was nearing end and school was starting back up. The median sales price in St. Clair Shores peaked at around $130,000 in August, and has continued to decline. Right now, the median home price is just over $126,000.
Inventory of available homes in St. Clair Shores rose heavily near the end of summer, with less demand for homes after the school year began. With less competition, sales prices naturally began to decrease. With the holidays right around the corner, some sellers decide to take their homes off of the market until the new year, and some buyers put their search on hold. If you do decide to list your home during this time, you can bet that you are getting very serious buyers coming through your home, which is a great thing!
If you are considering listing your home before the holidays, the Tom Lipinski Team can help you decide which option is best for you. Just give us a call today! (586) 685-1323 or email Team@LipinskiTeam.com.