There is good news all around for home sales in Berkley, Michigan.
The average sale price (median) for homes in Berkley grew from $151,000 in November of 2014 to $162,500 in November this year. That is about a 7% growth over last year. If growth goes much beyond that, 7%, the market may be over inflated. But 7% is an easily sustainable growth but still keeps ahead of the economy over all.
As a reflection of the growth, the number of days (DOM) on the market dropped dramatically. The average this year was only on the market 36 days. Last year DOM was at 43 days.
Finally, more homeowners thought it was time for them to make a move. Many were perhaps finally able to get enough for their investment to upgrade their living arrangements. The number of homes sold in Berkley went from 27 in November of 2014 to 32 in November of 2015.
As you can see, good news for all.
Keep in mind, these are averages for the market overall. Individual homes may sell for less or for more depending on the neighborhood and the condition of your home.
Morris Hagerman is a local real estate agent with Real Estate One in Royal Oak, Michigan. He serves Berkley and the other Woodward 5 communities, including Ferndale, Pleasant Ridge, Royal Oak and Huntington Woods. Hagerman is also a member of the Berkley/Huntington Woods Area Chamber of Commerce. You can contact him by phone at 248-854-8440, email at morrishagermanproperties@gmail.com or visit his web page.
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