So Many Sellers Are Cutting Their Prices...

4 in 10 sellers are cutting their price. Here's what that means in Michigan.

Price cuts are showing up everywhere, and most people read them wrong. Sellers think a cut means they blew it. Buyers think it means something's wrong with the house. Usually it just means the market moved faster than the listing did.

The national picture (HousingWire, Redfin):

• 42% of active listings have had at least one price cut, and that share has climbed 7 months straight
• The typical cut is about $17,560
• National list prices are down roughly $26K from last year's peak
• Sellers now outnumber buyers by about 58%, the widest gap Redfin has on record
• About 7 in 10 markets now favor buyers or are heading that way

What it means in Michigan:

• Sellers: Price it right on day one. Cutting after 3-4 weeks of showings means you've already lost your best buyer traffic. Right now, flexibility on closing costs or timing can win you the deal over the house down the street.
• Buyers: A price cut isn't a red flag, it's an opening. Homes that have sat a few weeks are where you have room to ask for a lower price, closing cost help, or repairs after inspection.
• Relocation buyers: Michigan doesn't move as one market. Inside the same county, a home under $500K can still pull multiple offers while a pricier listing sits and gets cut. Sellers and buyers moving here should know which side of that line they're on.

Takeaway: National numbers tell you the direction, but your price point and your town decide what actually happens to you.

Not Sure Where to Live in Michigan? Start Here!

This Week on Living in Michigan YouTube

Thinking about living in Utica, Michigan or moving to Macomb County? In this video, I break down what you need to know about Utica MI, including home prices, property taxes, Utica Community Schools, downtown Utica, commute times, local history, and what makes this tiny city different from the surrounding communities.

One of the biggest things buyers miss is that living in the City of Utica is not the same thing as simply being in the Utica Community Schools district. The same school district stretches into Shelby Township, Sterling Heights, Macomb Township, Washington Township, and Ray Township, but the property tax rates can be very different depending on where you buy.

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If you’re even thinking about moving to Michigan, whether it’s next month or next year, feel free to reach out. I’m happy to help you figure out where to start, what to expect, and how to do it the right way.

👉 Or just reply to this email, I read every message.

Helping people move to, from, and within Michigan.

Andrew McManamon

Global Real Estate Advisor

810-360-3488

Andrew@LivingInMichigan.com

www.LivingInMichigan.com

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