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ALLEN PARK
2021 AVERAGE SALES PRICE $182.102.00
488 HOMES SOLD
2021 was a crazy good year for Sellers, while many Buyers were frustrated by the extreme competition from other Buyers. 2022 saw more of the same until early Spring. Across the Country, prices are beginning to flatten out. Interest rates have almost doubled, which pushed many Buyers out of the competition. Inflation has also limited many budgets. We have been doing well in Allen Park. Our average sales prices went up $25,199.00 in 2021. 488 houses sold in Allen Park, which was the second highest number of homes sold in the past 16 years.
UPDATE 7-27-2022 A lot has changed in the past six weeks since interest rates almost doubled. We are expecting another increase today, which will push more buyers out of the market or into lower price points. Showings on properties have slowed down dramatically. Values are still holding, but I suspect we will see a decrease in selling price soon.
This has made it easier for buyers to get an accepted purchase agreement due to reduced competition. Many buyers will still buy, and hopefully be able to refinance at a later date(if possible). I have been tracking sales in Allen Park daily and I see that the inventory has been holding steady at around 35 homes for sale. So, sales are still happening and I might suggest that now is a good time to put your home on the market. Give me a call if you would like more information.
Update 12/8/2022-Average sales price increased to $182,102.00 with 378 homes sold this year so far in Allen Park. 30 homes are currently on the market.
ALLEN PARK AVERAGE SALES PRICE IN 2022 $191,403.00
Updated 1/26/23. Wild roller coaster ride last year! When it was all done, we saw an increase in our average sales price from 2021 of $9,301.00. Quite a reduction from the past two years(2020+$16,334.00 and 2023 +$25,199.00 Increases). Biggest news was interest rates doubled and knocked a lot of folks out of the market. This increase affected us all in so many ways. We are paying more for everything, higher interest on credit and buyers confidence in slipping.
The war in Ukraine also put a lot of pressure on the entire globe. Hopefully this will be resolved soon. Let's all keep our fingers crossed.
As of 1/26/23 there were only twenty houses on the market in Allen Park. Very, very low inventory. Also, 406 houses sold last year, which is the lowest amount since 2011(during the last big real estate recession.
Thinking of selling? Give me a call and I will be happy to come over and discuss your options. No charge or obligation.
If you are looking to sell your home, please give me a call and I will be happy to come out and answer any questions you may have, NO CHARGE. If you are looking to buy a home in Allen Park, I would love to work with you and I have three of the best Buyer Brokers around. Please feel free to give me a call so we can set up an appointment when you are ready. I am so very Thankful for all of you who have let me work for you the past 35 years. I love my job and cannot think of anything else I would rather do. I am truly a lucky man. THANK YOU!!!
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