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‘Unprecedented’ real estate market has houses selling above asking prices throughout Downriver | News

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The average home seller in 11 Downriver communities received at least the full asking price for their property in April.

Real estate industry reports also said homes sold more quickly than a year earlier, with many sellers receiving multiple offers and a variety of extras to sweeten deals.

The housing market is still hot, fueled by low interest rates, scarce inventory and the work-from-home trend. A year after pandemic concerns forced a temporary lockdown, the real estate market now keeps a frenzied pace.

“What we are continuing to experience in the marketplace is simply unprecedented,” said Karen Kage, chief executive of Realcomp II Ltd.

Realcomp said April selling prices averaged 101.6% of asking prices for the 18-community Downriver area. Riverview led with selling prices averaging 104.5% of asking prices. Ten others…

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