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April 2019

Berkley Michigan Planning For The Future!

Berkley is already a dynamic city and its planning commission is taking steps to make its future even brighter by creating and implementing a plan to make its downtown area more attractive and vibrant. A  downtown has an impact on property values throughout a city, not just the downtown. Over time it is reasonable to expect home property values will hold and increase due to the proposed changes to the city’s zoning requirements.

Berkley is a city in southern Oakland county adjacent to Royal Oak to the east and north and Huntington Woods to the south.  It is bounded by Eleven Mile Road on the south, Woodward Ave. on the east, Greenfield Road on the west and Webster Road on the north. Per Wikipedia “Berkley, as of the 2010 census, the total population was 14,970.”

The median household income of a family in Berkey, Michigan is $70,625, whereas the average for the U.S. is $53,482. The current unemployment rate in Berkley is 3.3%.

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    Update on Oakland County Housing Market

    We are about to head into the home buying season in Michigan and if your life allows you to get a jump on the market before school is out, you might want to begin your hunt now.  As the graph from the Standard and Poors Case Shiller Index, the most followed home price index in the country demonstrates, home prices have been steadily rising since 2010 and there is no reason to  expect things will change soon. The busy season for home buying is in the summer months when school aged children are on summer vacation. This in turn means as demand increases from more buyers in the marketplace, so will prices. How much prices will increase will depend on just how many families will enter the marketplace. Also keep in mind the graph below is for all of Oakland  county and not all areas of the county appreciate by the same percentage. Homes in high demand areas will appreciate faster, in dollar terms, than the county as a whole.

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