Like neighboring Birmingham and Beverly Hills, home values in Bloomfield Township have hit a 10 year high, with significant gains in the last 4 years. In 2014, the median sale prices for homes in Bloomfield Township was $316,000, an increase from $290,000 in 2013. 2014 saw strong demand from buyers, that outpaced available inventory in the the spring/summer buying season. By fall, buyer activity had softened and prices softened a bit.
We are expecting a balanced market in 2015 with continued interest from buyers and decent inventory. Sellers will need to price acurately and should not expect huge increases in value.