March 2021 Market Update - Are there REALLY no homes for sale? Is the market getting ever crazier, or starting to cool off?

  

March was an extremely exciting month in the real estate market and very much so here at The Perna Team. 

We've been hearing over and over that there are no homes on the market, but we have some great data around this to share. Taking a look back at the numbers in the Metro Detroit and Ann Arbor area, in February of this year we saw 4,573 new homes go on the market. In March that number grew to 6,160 new homes, providing a 26% increase in the number of properties on the market. Looking back at the inventory from year over year, we were down in 2021, but only by 487 homes. Also, we do anticipate seeing the number of…

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Here’s how we’ve been helping scores of families buy homes in this market.

  

It’s the news you’ve been hearing and the pain you’ve been feeling for quite some time now: This extreme seller’s market makes things impossible for buyers. Less experienced agents will parrot this narrative, but here at The Perna Team, we’re not obsessing over the difficulties of the market. That’s because, in this past month alone, we’ve helped dozens of families secure the homes they want. Many of our winning offers weren’t even priced the highest; all of these satisfied buyers followed our eight-point strategy for standing out amongst the competition. 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel…

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One of the common thoughts we have been hearing from our clients is that they want to capitalize on their current increase in home value, but do not want to overpay for their next home if they were to sell today.

 

This is a very understandable statement, as home prices have shot up in the past months due to the lack of available inventory on the market. But to fully understand what the actual price of that next home may be, we have to look at a couple of important variables that come into play.

 

Working with an agent or team who provides expert negotiating skills can not only net the best price on a home sale, but on a purchase as well. Price is an important term when considering an offer on a home, but as we have been seeing in…

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Detroit Best Neighborhoods

As Michigan's largest city, Detroit's metro area is home to over four million people. Detroit has long been recognized by its nickname "Motor City" in acknowledgment of its ties to the American automobile.

Automobile manufacturing has brought many jobs to the area and has helped establish some of the city's earliest neighborhoods. The industry continues to leave its mark on Detroit and its surrounding communities today. Detroit is also considered a regional culture hub, giving rise to the Motown sound, which continues to impact the music industry.

Living in a master-planned community within commuting distance of Detroit offers residents the best of both worlds. Those moving to the area and interested in this lifestyle should consider the…

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Best Parks in Detroit

The best parks can be the heart and soul of a city, as they provide a place for residents and visitors alike to gather and enjoy the great outdoors. Additionally, studies have shown that homes situated close to a park are generally worth eight to 20 percent more than homes that are not. Fortunately, Detroit is home to many great parks, including the following six:

Beacon Park

Beacon Park Amenities

  • Dining options like food trucks and an on-site restaurant
  • Interactive art installations
  • Farmer's market
  • Child-friendly activites
  • Regular concerts

Address: Beacon Park, 1901 Grand River Ave, Detroit, MI 48226

Opened on July 20, 2017, by DTE Energy, Beacon Park is one of Detroit's newest parks. It features a large,…

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Popular Home Builders in Detroit

Deciding to build a dream home, whether it's in an expensive neighborhood or an affordable neighborhood, is a big step, and it can be challenging for people to decide on a construction company. The following list includes some top custom home builders in the Detroit, Michigan, area to help people find a contractor who fits their unique needs and home design visions.

Arteva Homes

The Arteva story began in 1946 at H.J. Oldenkamp, one of the largest national distributors of luxury home building products. The late Arthur Szliter joined H.J. Oldenkamp in 1962 and became the owner and president for nearly 30 years. In 1991, he left the company to form Arteva Homes with his son Brian Szliter and colleague Vito Terracciano. With a combined 50 years of…

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Things to Do With Kids in Detroit

For years, Detroit's two main claims to fame were for being the birthplace of the automotive industry and the classic Motown sound. But today, this city is going through a major transformation. It's burnishing its image and striving to become known as a city where families want to live and play. And all of Detroit's hard work is really starting to pay off. New restaurants and businesses are popping up in Detroit, and Travel & Leisure recently recognized it as being one of America's most underrated cities. Families who are thinking about moving to Detroit can rest assured they'll always have family-friendly activities to do, and these six things are just the tip of the iceberg.

Detroit Zoo

Detroit Zoo Exhibits

  • Outback
  • Asian Forest
  • …

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Best Places to Live Near Detroit Metro Airport

Known by the nickname "Motor City," Detroit and its many suburbs combine for a sprawling metro area of about 4.3 million residents. Detroit itself has a population of 3,548,000, making it Michigan's largest city. In addition to being the hub of the automotive industry, the city is known as the birthplace of the Motown record label.

The Detroit Metropolitan Wayne County Airport, typically referred to as the Detroit Metro Airport, covers about 4,850 acres and is considered a major international airport for the U.S. The airport serves over 140 destinations and has been recognized as the best large U.S. airport for customer satisfaction. Finding a home near the airport is essential for those who travel often, either for pleasure or business reasons.…

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Detroit Most Walkable Neighborhoods

Nicknamed "Motor City," Detroit and its suburbs are part of an expansive metro area that is home to a population of 4.3 million people. Detroit is Michigan's largest city, with a population of 3,548,000. Recognized as the birthplace of the Motown label, the city also serves as the region's cultural and music center.

Over the past few decades, the city's oldest neighborhoods have gone through major revitalization, while at the same time, new developments are cropping up throughout the city. Other areas that have undergone renovation in recent years include neighborhood community centers, historic entertainment venues and the city's riverfront district. Now, many Detroit neighborhoods have become walkable, with central locations and architecture to…

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How can home prices be rising so rapidly when we have such a high unemployment rate?

  

The Case-Schiller Index, which tracks home values, recently reported that home values went up by a record amount in September 2020—the highest rate of appreciation for any month in the last 20 years! Much of that has to do with low interest rates, which caused buyers to flock to the market and eat up the already limited inventory. If you’re thinking about selling a property anytime within the next six months, now is a good time to meet with us to make sure that you’re maximizing your home’s value and marketing it to the right buyers.

At 1:44 in the video above, you’ll see a chart that compares unemployment levels to the weekly earnings by industry. The…

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