Leading Detroit-area realtor Michael Pena says “you’re leaving money on the table” if you sell your home on one day. Michigan buyers are paying more.

They say "the house always wins," and that's true right now in the competitive Michigan real estate market. So many things have been disrupted by the Coronavirus pandemic and home prices have been affected as well. But just because you can sell your house one one day doesn't mean you should.

If you’re going with a buyer within the first day, you’re probably leaving a lot of money on the table. With so much demand, it pays to let multiple offers roll in, choose the best one, or create a counteroffer.

-Michael Perna, Metro Detroit realtor

Realtor.com reports that, "nationally, the inventory of homes for sale in March decreased by 52.0% over the past year." Simple economics teaches that fewer of almost anything makes it more valuable: the law of supply and demand. Home prices have followed that model. "The March national median listing price was $370,000, up 15.6% compared to last year."

Get our free mobile app

If you are considering selling your home, this 10 minute video could be worth thousands of dollars. Realtor Michael Perna explains why you need at least 2-4 days to ensure you get the most you can and why you should wait to look at the offers. Granted, Perna is a realtor and this is essentially a commercial for his team, but he knows his business and can read trends. If you want to dream a little, check out the listings on his site, many of which are in the $5M- $10M range.

LOOK INSIDE: Kid Rock Is Selling His Grand $2.2 Million Detroit Mansion