Piper Partners
912 N Main
Ann Arbor, Michigan 48103
Email: andy@piperpartners.com
Find or sell your home today!
(734) 822-7496
Find or sell your home today!
(734) 822-7496
The Ann Arbor real estate market is st...
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"Navigating the ...
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What an experienced rea...
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2024 NAR Report: Key Real Estate Market Trends for 2025! Learn what to expect and how to prepare with strategies for buyers and sellers navigating a shifting market. The National Association of REALTORS® (NAR) 2024 Profile of Home Buyers and Sellers offers a comprehensive look at the evolving housing market. From the rise of multigenerational living to the growing role of technology in home searches, the report highlights significant shifts impacting buyers and sellers. Understanding these trends is critical for navigating a competitive and dynamic real estate landscape in 2025. Read highlights of the report here Key Real Estate Market Trends A declining number of First-Time Home Buyers First-time buyers now make up 24% of the market, the lowest share since tracking began in 1981. The number peaked in 2010. Rising home prices, limited inventory, and higher mortgage rates have made it increasingly difficult for younger buyers to enter the market. Many are burdened by inflation, stagnant wage growth, and student debt, which delay their ability to save for down payments or qualify for favorable mortgage terms. Aging Buyer Demographics The average age of first-time buyers has risen to 38, up from 35 last year, while repeat buyers now average 61 years old. This shift reflects the financial challenges younger generations face and the growing presence of older buyers in the market. Many older buyers are downsizing or purchasing homes with features like single-level living or proximity to family, while younger buyers often delay homeownership until they have greater financial stability. Growth of Multigenerational Living The Real Estate Market Trend of multigenerational living continues to grow, with 17% of buyers purchasing homes designed for multiple generations, the highest percentage recorded. Rising housing costs, combined with the need to care for aging parents or accommodate adult children, are key factors driving this trend. Homes with features like in-law suites, separate entrances, or accessibility accommodations are in high demand. For sellers, marketing multigenerational-friendly properties can attract a broad pool of buyers. Builders are also increasingly designing homes with flexible layouts to meet this growing need. Role of Technology in Home Searches Technology continues to transform the home-buying process, with 96% of buyers using online tools to search for properties. Virtual tours have become a standard feature, allowing buyers to explore homes remotely and narrow their choices before scheduling in-person visits. Mobile apps and listing websites also play a central role in helping buyers compare properties, research neighborhoods, and track market trends. For sellers, the emphasis on technology underscores the importance of online marketing. High-quality photos, detailed descriptions, and engaging virtual tours are essential to attract tech-savvy buyers and stand out in a crowded marketplace. For Buyers: Navigating the Real Estate Market in 2025 Leverage Technology: Use online tools and apps to explore listings, compare prices, and take virtual tours. Research neighborhoods thoroughly before scheduling in-person visits to save time and narrow your focus. Research public city and county websites, local MLS's and neigbhorhood groups for deeper local information on properties, the market. Consider Multigenerational Options: Look for homes with flexible layouts or additional living spaces to accommodate family needs. Pool resources with family members to increase buying power and access larger or more desirable properties. Work with a Real Estate Agent: A knowledgeable agent can help you identify areas and neigbhorhoods and navigate competitive markets, craft strong offers, and identify off-market opportunities. Lean on their expertise to ensure your interests are protected during the search, when writing and negotiationg contracts and closing. Stay Flexible: Broaden your search area to find neighborhoods that are priced lower but still offer most of your "must haves". Consider homes requiring minor updates to expand your options but be wary of fixer uppers as repair costs and contractor availability can be challenging. Be prepared to act quickly in fast-moving markets by securing pre-approval, and when possible, fully underwritten. Reduce contingencies where possible. Be Ready: Great deals can be found in any market. Be ready with your financing in place and a foundation of knowledge about your target market so when the right opportunity hits you can act quickly. For Home Sellers: Maximizing Your 2025 Real Estate Market Opportunities Highlight Multigenerational Features: Emphasize features that appeal to multigenerational buyers - separate entrances, in-law suites, second kitchens or accessibility upgrades. Showcase flexible layouts and shared spaces as key selling points in your marketing materials. Optimize Online Presence: Invest in professional photography, floor plans and engaging virtual tours, and well-written descriptions to attract online buyers. Partner with an agent who understands digital marketing to maximize your listing’s visibility. Price Strategically: Analyze market trends with your agent to set a competitive price that attracts serious offers. Prepare Your Home: Make updates or repairs to enhance move-in-ready appeal. An experienced agent can help you determine which repairs make sense to do and which ones are not worthwhile. They can also help you with a list of vetted contractors. Consider a pre-listing inspection to address potential issues upfront and build buyer confidence. Start early. Often a decision to downsize for example takes years. It will also most likely take time to catch up on maintenance and Conclusion The 2024 NAR report underscores the shifting dynamics of the housing market, shaped by technology, changing demographics, and evolving buyer priorities. Buyers must embrace online tools, consider multigenerational options, and stay flexible to succeed in this competitive landscape. Meanwhile, sellers can maximize opportunities by tailoring their marketing strategies, emphasizing key features, and working with experienced agents to position their properties effectively. Understanding these key real estate market trends for 2025 insights and strategies, both buyers and sellers can navigate the 2025 market with confidence.
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Many people relocate for the educational opportunities of the University of Michigan's downtown and medical campus, while others are finding footing in Ann Arbor’s research and tech companies. Some are remote workers moving to more affordable cities. All are drawn to Ann Arbor's Midwest values and quality of life. Unsurprisingly, people from across the country relocate to Ann Arbor, Michigan, from large cities like New York, Washington, Los Angeles, San Francisco, and Seattle. Relocating? What To Consider When Searching for a Top Real Estate Agent In A New City When relocating and purchasing a home in Ann Arbor, Michigan, finding the right real estate agent is crucial; especially when you have limited time and budget for visits to view potential homes. With over 1000 realtors and affiliate members in the Ann Arbor Board of Realtors, how do you make the right choice? To help you make the right decision, consider following these steps: Seek referrals from locals, friends, or family who have experienced success with a reliable agent and interview them before making the decision. Don't solely rely on online placements. Placing an ad doesn't guarantee an agent's expertise. Scrutinize an agent's website for local insights, testimonials, and their approach to real estate. Does their website have information about local neighborhoods and other community features? Are they local experts? Investigate their track record of satisfied clients and Google reviews to ensure credibility. Conduct interviews with multiple agents to assess their communication style, availability, and negotiation skills. Make sure they are your style, and understand your needs. When you are interviewing real estate agents, consider these points: Are they a good listener? What is their communication style? Does the agent’s style match your style? Do you feel a sense of rapport and trust? What is their availability? Do they actively serve buyers and sellers in the areas where you are looking? How do they negotiate offers? Can they find you a home that you can afford in an area you want? Ask about their experience negotiating and ask for examples when they have successfully negotiated for their client. Interview former clients. Find reviews and testimonials from clients in the last 6 months. Common Pitfalls Home Buyers Fall Into: Not being systematic. Find a real estate agent that has a plan, and make sure you stick to the plan for each home you research. Blindly accepting recommendations from friends and family in the area is a good start, but you should evaluate each referral with your interview. Even if a real estate agent was right for a friend, you may need something different. Clicking on every real estate site and hiring multiple agents to find homes for me. Several are not better than one! It will also waste your time. Top-selling real estate agents might not necessarily be the best. Volume is not an indicator of quality. Testimonials from clients are more important. Larger teams have multiple agents, so you may not get the expected agent. You could end up with a team member with less experience. Sponsored ads are not an indicator of quality. Be wary of sponsored ads as they pay Zillow for that spot. Reviews and testimonials from actual clients are better and more reliable. Don't just click the first link on Google and assume it's also the best choice. They go with a listing agent because they believe it will be cheaper in the long run, but this is not necessarily true. A good real estate agent can work with you within your means. Andy was recommended to me by a long-time Ann Arbor resident (20 years), and after working with Andy I offered to provide a testimonial - especially for others relocating from other states. When purchasing a home in Ann Arbor and living in another state you have to trust and rely on your agent, and I did, entirely. Andy is responsive, incredibly knowledgeable of the market, trends, etc. but also an excellent resource "of all things Ann Arbor", efficient, friendly, professional, and incredibly reliable. I cannot recommend Andy highly enough. In fact I offered to speak with others moving from out of state to share my experience first hand with others. -Jenn D. Relocated from Seattle to Ann Arbor With the guidance of an agent who possesses local insights, a strong track record, effective communication skills, and a proven negotiation ability, your transition to Ann Arbor can be a smooth and satisfying experience. A staggering 89% of buyers would recommend their agent to others, and our clients are our best source of feedback. With our expertise and dedication, we are here at Piper Partners to assist you in buying your dream home and making your move a seamless success!
The Broadway Pa...
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912 N Main
Ann Arbor, Michigan 48103
We improve lives by delivering 5-star real estate service with the highest levels of competence, trust, and integrity. We are known as connected, compassionate, and giving leaders in the communities we serve.
The Piper Partners Real Estate Team in Ann Arbor is one of the top-ranking teams in Southeast Michigan. Piper Partners serves Washtenaw, West-Wayne, Livingston, and parts of Oakland counties, including the cities of Ann Arbor, Brighton, Canton, Chelsea, Dexter, Milan, Northville, Plymouth, Saline, South Lyon, and Ypsilanti.
