Fantastic news for anyone who bought a home in Birmingham, Michigan in the last 10 years, or, ahem, ever.
Compared year to year, Birmingham’s median home prices have been on a rapid and steady ascent since they hit bottom in 2010, when the median home sale was $217,400. In 2014, we’ve reached a new May high of $464,000, with median sales running consistently in the mid $400,000’s for all of 2014.
Tight inventory and high demand for all Birmingham living has to offer contribute to the stellar price increases for Birmingham homes. In most segments, demand outpaces supply, so Realtors like us are actively looking for people who want to sell their homes to ready and able buyers.
If you are curious about the current value of your home, we’d be happy to talk to you about our opinion of value. The market has truly never been better and our forecast for Birmingham MI home prices is bullish.