Found 12 blog entries tagged as Michigan Housing Market.

Michigan didn’t top this year’s national “best places to live” lists, and that headline stung some locals. But once you look at what the rankings measure, how they weigh each factor, and what they don’t capture, the full picture of life in the Great Lakes State is a lot more nuanced, and in many ways, encouraging.

The headline result, plainly stated

WalletHub’s 2025 “Best States to Live” list places Michigan at No. 30 overall. Michigan scores well on Affordability (No. 12) and Quality of Life (No. 13), with lower marks in Education & Health (No. 33), Safety (No. 33), and Economy (No. 36). Michigan also ranks No. 3 for homeownership rate among its detailed metrics. Within WalletHub’s 12-state Midwest grouping, Michigan sits at the bottom this…

1020 Views, 0 Comments

Read Full Post

Metro Detroit’s housing market is making headlines, and for once, it’s not the usual story of steady-as-she-goes growth. Home prices in the Motor City metro are soaring at one of the fastest rates in the nation. In fact, recent data showed Metro Detroit near the very top of U.S. cities for annual home price appreciation. Detroit even briefly held the #1 spot for fastest-rising prices late last year. This surge has caught the attention of families and industry experts alike. What’s fueling this sudden rise, and what does it mean for local buyers and sellers? Let’s break it down, with the friendly insight of a lifelong Michigander who’s seen a thing or two in this market.

Metro Detroit Home Prices Soar to the Top of the Charts

It might surprise…

4200 Views, 0 Comments

Read Full Post

Michigan is a state of contrasts when it comes to wealth. From revitalizing urban centers to struggling rural towns, the economic landscape varies widely. Amid this diversity, you might assume Michigan’s richest community is a well-known suburb like Bloomfield Hills or a lakefront enclave in the Grosse Pointes. But the answer may surprise you: the richest town in Michigan is actually the small city of Orchard Lake Village. This quiet Metro Detroit suburb, tucked amid several lakes in Oakland County, boasts an eye-popping median household income that far outpaces the rest of the state. In an era of growing wealth disparity, understanding where wealth is concentrated – even in an unassuming lakeside village – is eye-opening for locals and newcomers alike.…

1240 Views, 0 Comments

Read Full Post

Selling your home is all about timing – and in Birmingham, Michigan, summer offers an unparalleled window of opportunity. While every season has its pros and cons, summer stands out as the ideal season to list your Birmingham property. Picture tree-lined streets in full bloom, bustling downtown sidewalks, and buyers eager to settle in before fall. In this article, we’ll explore why summer in Birmingham gives sellers a unique advantage, how it compares to spring, fall, and winter markets, and what The Perna Team does to capitalize on the summer surge. By the end, you’ll see why listing in summer can mean higher prices, faster sales, and happier sellers – and how to make the most of this golden season.

City Government of Birmingham, MI, Facebook

The…

1860 Views, 0 Comments

Read Full Post

Detroit’s inner-ring suburbs are seeing a real estate renaissance. According to newly released property assessment data, home values in several of these communities have surged by double digits over the past year. This trend is turning heads across Metro Detroit. Homeowners in the city of Detroit itself gained an astonishing $1.4 billion in new home equity in 2024, marking one of the largest single-year gains in the city’s history. What’s fueling this rapid rise in residential values, especially in the older inner-ring suburbs that hug the Motor City’s border? Let’s dig into the data and the driving forces behind this boom.

New Assessment Data Shows Surging Home Values in Inner-Ring Suburbs

Recent assessment figures confirm what many…

1834 Views, 0 Comments

Read Full Post

Spring has arrived in Michigan, and alongside the blooming tulips come a flurry of "For Sale" signs. The Michigan spring housing market is in full swing – historically the busiest time of year for real estate. In fact, a huge share of home sales happen between March and June, as warmer weather and the approaching summer break motivate families to move. Buying a home in Metro Detroit during spring can feel like a competitive sport: more listings pop up, but there are also more eager buyers vying for each house. Michigan homebuyers often find themselves at open houses that are bustling with interest, or hearing that a well-priced suburban home received multiple offers in its first weekend. It’s an exciting yet challenging season for anyone dreaming of a new…

1330 Views, 0 Comments

Read Full Post

Selling your home in Metro Detroit is a big decision – one that brings excitement, anxiety, and a lot of questions. For many Metro Detroiters, a house isn’t just four walls; it’s years of memories in that Royal Oak bungalow or Canton colonial. When it comes time to sell, you want to do it right. So, what exactly should you know to sell a home in Metro Detroit quickly and profitably? In this friendly guide, we’ll walk you through everything you need to know before listing your Metro Detroit home. From understanding the local market and the best time to sell a house in Michigan to smart prep work, pricing strategies, and avoiding pitfalls, we’ve got you covered. Let’s dive in!

Understand the Metro Detroit Real Estate Market

Before you put up…

1252 Views, 0 Comments

Read Full Post

Oakland Township’s real estate market is buzzing with activity as we head through 2024 and into 2025. Buyers across all segments – from first-time condo seekers to luxury estate purchasers – are on the hunt in this desirable community. In this article, we’ll explore the latest Oakland Township housing market data (prices, days on market, inventory) and dive into what today’s buyers are looking for in their next home. From must-have features and lifestyle priorities to preferences on new construction vs. resale, we’ll cover the key buyer trends shaping the market right now. Drawing on The Perna Team’s recent experience helping buyers in Oakland Township, we also share insights and guidance so you can navigate this market with confidence. Let’s dive in!

…

2133 Views, 0 Comments

Read Full Post

Picture an apartment so luxurious that even pro athletes and auto executives are racing to call it home. That’s exactly what’s happening in Birmingham’s latest development, where a just-opened complex is redefining high-end rentals in Metro Detroit. Birmingham Pointe, a new 152-unit luxury apartment community in downtown Birmingham, has opened its doors and is already setting a new benchmark for upscale rentals in Michigan. With resort-style amenities and some of the highest rents Metro Detroit has ever seen, this development is turning heads and raising the bar on what local luxury living looks like.

The buzz is palpable: one-bedroom apartments here start around $3,300 a month, and penthouse suites climb to about $14,500 monthly. For context, the…

2202 Views, 0 Comments

Read Full Post

Selling a home in Metro Detroit can be a lucrative opportunity – but even in a strong market, certain missteps can cost you time and money. Metro Detroit’s real estate scene is diverse and dynamic, encompassing everything from classic bungalows in Ferndale and sleek downtown condos to luxury estates in Bloomfield Hills. Whether you own a suburban single-family house, an urban loft, or a high-end property, the goal is the same: achieve the best price in the shortest time. To do that, it’s critical to avoid the common pitfalls that often trip up sellers in our area. In this comprehensive guide, we’ll review the Metro Detroit housing market’s latest trends (2024–2025) and outline the most frequent mistakes sellers make – and how to avoid them. You’ll also…

3573 Views, 0 Comments

Read Full Post