Market Reports and Listing Alerts

When you are thinking about selling or purchasing real estate (or both!), there are a variety of considerations which will affect if — or when — you are ready to make your move. You will likely be considering the changing needs of your family, commuting needs, school districts, your budget, and features that you would be looking for in your next home and neighborhood. I believe that we all reach the best decision when we are equipped with the best information. This is why I am offering my clients the ability to track real estate market data. While only you will know if you need that extra bedroom, or if it’s time to downsize or move to a neighboring school district, I want to ensure that you have the best market data available, so you are fully prepared for the sale of your current property, as well as the purchase of your next one.

 

Market Reports

Market Reports will provide you with monthly updates for activity in a market. These updates are sent to you via email, and they will show you the following information:

    Sales Data

  • Median price for properties sold
  • Median list price for active listings
  • Median list price for new listings
  • Actual properties sold during the time period, with selling prices
    Inventory Data

  • Number of active properties for sale
  • Number of new properties for sale
  • Number of properties sold
  • Average days on market
    Market Trends

  • Compare sales and inventory data to previous 6 months’ data
  • Allows you to understand market-specific and location-specific trends
  • Can help you understand what you can expect if you are considering selling your home (inventory, selling price, and average days on market)
  • Can help you understand seasonal impact on markets
  • Can help you identify areas that are increasing in value, versus decreasing in value (or increasing at a slower rate)

Note: Six-month data trends may not be available for markets that you define, but data will start accumulating from the time your market report is established. For this reason, you may want to consider signing up for an existing market report in addition to a more specific one that you create.

Defining your Market Report market(s)

You can create a market report for any saved search you create. However, there are a few important things to keep in mind when creating your own market reports:

  • Don’t define your market to narrowly. For example, you may be searching for a 4-bedroom home in the $400,000-$500,000 price range. However, it may make sense to follow a broader report to understand the market. Because the market report provides sales data, you are less likely to notice price trends when you limit the price range. Instead, consider defining a geographic area (such as a school district, a city, or a neighborhood), and leaving the price range open.
  • Instead of defining a price range for market reports, consider other variables that will be useful to you. A good example would be single family homes over 3,000 square feet in a specific school district. The price range could vary tremendously, but this would provide you with valuable data. To get more specific, consider whether you want to limit the data to “waterfront only” or “no waterfront properties.” The key is to eliminate factors which could skew the sales data that you are most interested in.
  • This website already includes dozens of “saved searches” that may be useful to you. Explore the following saved search pages to explore the possibilities. You may also start by exploring these saved search results, but refine the results later. For example, you may begin with Livingston County / Homes with Pools. Based on the results, you may define a minimum price, and specify 4+ bedrooms.

View saved searches here:

 

Listing Alerts

Listing Alerts are daily email notifications that will alert you to any new properties that become available that meet your saved search criteria, as well as any homes that have sold or have had price reductions.

Like the market reports, you may sign up for listing alerts for any saved search on this website, or you can create your own search. It usually makes sense to make this search more specific, as you likely have specific needs for number of bedrooms, square footage, garage size, etc., as well as your price range. Consider defining your listing report price range as slightly above what you plan to spend on your next property, since inevitably there will be some homes that will be listed above market price. This gives you the opportunity to keep an eye on the property and, in the event that it does not sell at that price, you can be prepared to make a lower offer if and when it makes sense. And because listing reports also update you with price reductions, the property will already be on your radar.

As always, be careful not to define your search too narrowly, or you may miss out on some properties that may be a good match. For example, if you are looking only for properties on 0.5 acres or more, you may miss out on the perfect home on 0.48 acres.

If you are looking for something specific that you are not able to specify with the search on this website, please do not hesitate to contact me. I have the ability to create more specific searches directly from the MLS (for example, first floor master bedroom, lake view, lake access, or waterfront on all-sports lakes or even on a specific lake).

Sign up for Listing Reports here or on any saved search result page.

 

Open House Reports

You may also sign up for weekly open house notifications for any saved search.

 

Assistance With Your Search

I love helping my clients find their dream property. Whether you are just getting started, and want to discuss cities, school districts, or neighborhoods, or you know exactly what you are looking for but want to refine your search criteria so you don’t miss your dream property, please don’t hesitate to contact me via email or call me at 248-466-0300. I look forward to working with you!

How can I assist you? 

Please contact me for assistance with refining your unique search criteria.

Securing Your Dream | Protecting Your Investment | Laura Abramson, Realtor  248-466-0300

Serving Livingston, Washtenaw, Oakland, Western Wayne, and Genesee Counties

I represent my clients throughout the state of Michigan, or I can refer you to a trusted local partner in your target community.

Keller Williams Northville Market Center | 39500 Orchard Hill Place, Novi, MI 48375

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