Harper Woods has seen noticeable shifts over the past year in this rolling three-month view. Typical home values are down a bit year over year, and the share of homes selling above list has also declined. At the same time, inventory has grown and months of supply has more than doubled compared with last year, easing some of the intense pressure on buyers.
Recent data shows a typical home value around $145,000, with a median list price closer to $161,000. Homes are taking longer to sell than a year ago, with the median days on market up sharply to about 40 days, and months of supply has climbed to roughly 4.8 months, in line with a cooler seller’s market.
Even with these changes, activity has remained steady, as new listings and pending sales are both slightly higher than a year earlier. Fewer homes are closing above their asking price, and the average sale-to-list ratio has edged down to about 97 percent, reinforcing that sellers are negotiating more than before. Buyers may find a bit more room to compare options and make offers, while sellers still benefit from a market that leans in their favor. To navigate these evolving conditions, both buyers and sellers in Harper Woods can turn to Agent Pronto to connect with an experienced local real estate agent who understands the latest trends.
