A simple filter keeps you decisive when the pace is quick.
You are trying to decide how picky you can be while still getting a home under contract. My answer be picky about the right things, and move fast on the rest. One number that sets the pace in Madison Heights, MI is 0.94 months of supply recently reported.
Low supply does not mean you buy the wrong house. It means you tour with a filter. With 0.94 months of supply recently and a typical sale taking 21 days last month, your advantage comes from knowing your yes/no criteria before you walk in the door. Where people get this wrong is treating every showing like a brand-new decision. The moment you do that, you lose time, and time is exactly what a 21-day typical sale pace does not give you. On pricing, recent offers landed about 98.8% of asking, so plan for near-list outcomes when the home is priced well. Action steps tied directly to those numbers before you tour, write down your three must-haves and three deal-breakers, and commit to deciding within twenty-four hours when a home meets your criteria, because the local pace is measured in weeks, not months. Next, set your offer comfort band using the 98.8% of asking benchmark so you do not waste time trying to win with a discount that the recent market has not been supporting. Some metrics were not reported for this period. If you want me to pressure-test your criteria, I can help you keep the process objective and aligned with how Madison Heights, MI has actually been closing recently.
About Ed Brittingham
Ed Brittingham is a licensed Real Estate Professional affiliated with REMAX Eclipse, specializing in the Madison Heights market. With a focus on strategic marketing and deep local knowledge, Ed Brittingham provides clients with expert guidance in navigating complex real estate transactions. View full profile →
