Local Real Estate Market Follows Statewide Trends: Seller’s Market

Port Huron, MI — The local real estate market is reflecting statewide trends and it is truly a seller’s market. Low interest rates, sparse inventory, and a desire for more space after all that time at home have kept real estate agents busy locally and around Michigan.

Shawn Debuf, a Real Estate Agent with Coldwell Banker Professionals in Port Huron, said, “With mortgage rates at an all-time low, and with less listings, buyers have had to become aggressive with their offers. For example, they may offer over listing price with a cash guarantee even if the home doesn’t appraise at that value.” She reported that values have increased in most areas across St. Clair County.

The website Unclutterer.com reported that nearly half of Michiganders are bored with where they live, after quarantining in the same areas for months on end. They report that “36% of city dwellers in the Great Lakes State now want to move out to the suburbs, or the country”. If they take the plunge into the real estate market, they will need to be ready to make an offer quickly, as properties are moving fast, and desirable houses don’t stay on the market for long.

Reporting for WGRT – Jennie McClelland