If you want to sell well, price discipline matters more than wishful thinking right now.
If you are debating whether to put your home on the market now or wait, my answer is to move forward with a tight plan, not a loose price. In Walled Lake, MI, the recent numbers point to a market where homes can still move quickly, but buyers are not paying full asking on average, so your first move needs to be sharp and deliberate.
Over the previous 30 days, supply stood at 1.38 months, and a typical sale took 16 days. Recent offers landed about 95.8% of asking, while the typical sold price was $333,250. That combination tells me sellers in Walled Lake, MI still have limited competition, but they do not have room to test the market with an inflated starting number. The bigger risk for a seller is confusing low supply with automatic pricing power. Last month, 18 homes were active with a typical asking price of $272,450, while 13 homes were already under contract and 4 closed at a typical sold price of $333,250. My read is simple homes are moving, but the market is rewarding the ones that are positioned correctly and ready for a serious buyer to act. Start with your price before you start with your timing. Study the current competition around the recent typical asking price of $272,450, then decide where your home truly fits. Tighten condition and presentation before you go live. Build your first week strategy around urgency, because a typical sale taking 16 days means hesitation can cost you leverage.
About Ed Brittingham
Ed Brittingham is a licensed Real Estate Professional affiliated with REMAX Eclipse, specializing in the Walled Lake 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 →
