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Old 08-08-2017, 12:57 PM
 
2,173 posts, read 2,815,818 times
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Quote:
Originally Posted by Coldjensens View Post
No. It says either it is more limited in supply or more in demand or both. The law of supply and demand has two elements, not one.

Northville is much larger geographically . It is not contained by other cities and they are building subdivisions all around it like mad. Birmingham on the other hand is pretty well built out and has been for a considerable time. Not much room for new people, so for new people to move in, other need to move out. Sure there are a few new places going in around Brimingham, but comparatively none. Further, living in Northville township, Novi, Part of Lyon township, are jsut as good as living in Northville. WhileLiving just outside Birmingham is nto considered just as good as living withint the Birmingham zip code.

Northville has more competition among house sales, More supply. Thus, the houses will be cheaper.

To use an analogy. I collect antique clocks. My favorite are Oswald dog eye clocks from the 1930s (well there re dogs, a skull, a genie and owl maybe some others). There is very little demand for dog eye clocks. Hardly anyone is out there looking for one. However there is an even smaller supply. So Dog eye clocks sell for as much as $300 while simple quartz movement clocks can be found at Walmart for $5 on sale. The price is not even close. The dog eye clocks are 60 times more expensive. Does that mean Dog eye clocks are much more desirable? No. Walmart will sell 100,000 $5 clocks that keep time more accurately, while probably no more than five dog eye clocks will change hands this year. Clearly the $5 clocks are much more desirable - many more people want them. See? Price is not an expression of desirability.
True, but there isn't much left of Northville Twp that isn't built out yet. Not enough to explain a nearly 100% discrepancy.
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Old 08-08-2017, 01:16 PM
 
Location: Metro Detroit
1,786 posts, read 1,930,463 times
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Living just outside of Birmingham puts you in Bloomfield Hills, Beverly Hills, Troy, and Royal Oak - each one with homes that sell for more $$$/sq.ft. than homes in Northville itself. It's not a stretch to say those places are more desirable than Plymouth, Novi, Salem Township, and Livonia.. In fact, if cost were not a concern, I would say many would take Bloomfield Hills over Birmingham. Get a mile or two out of Birmingham and you've got Huntington Woods, Berkley, and Clawson - also relatively desirable places with a unique characteristics and draws. Trying to say the areas around Northville are more desirable than the areas around Birmingham is simply not a realistic statement.
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Old 08-08-2017, 03:18 PM
 
Location: Grosse Ile Michigan
27,759 posts, read 65,567,547 times
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Quote:
Originally Posted by Geo-Aggie View Post
Living just outside of Birmingham puts you in Bloomfield Hills, Beverly Hills, Troy, and Royal Oak - each one with homes that sell for more $$$/sq.ft. than homes in Northville itself. It's not a stretch to say those places are more desirable than Plymouth, Novi, Salem Township, and Livonia.. In fact, if cost were not a concern, I would say many would take Bloomfield Hills over Birmingham. Get a mile or two out of Birmingham and you've got Huntington Woods, Berkley, and Clawson - also relatively desirable places with a unique characteristics and draws. Trying to say the areas around Northville are more desirable than the areas around Birmingham is simply not a realistic statement.
Missing the point.

In and around Northville, close enough that they are still basically part of the Northville community and within Northville School district, there are a ton of new homes and more being built. Even within Northville itself there are a lot more home available, and lots of new ones being built. Northville has not reached its capacity to add new homes, plus there are simply a lot more homes there already. Birmingham has by comparison - none. A very limited supply. Very limited supply vs. supply that has not yet reached its limits = price discrepancy that has nothing whatsoever to do with desirability (or demand). There may or may not be more demand for Northville homes. Until the supply becomes as limited as the supply of Birmingham homes, we cannot make the comparison in order to determine desireability.

Northville has a much larger supply of homes. Now you need to look up supply and demand theory.

You will learn that the price discrepancy actually tells you nothing about desirability (demand) because you cannot discern anything about demand without knowing the supply element. It is not a question of them being more or less desirable, it is a question of there being a greater supply vs a much more limited supply. Now go back and read the clock analogy with this in mind. Not complicated stuff. Economics 101.

Of course you then have to factor in desirability that has noting to do with the City itself or its attributes such as length of commute. Snob factor. More dense population vs less dense.

Birmingham homes are more expensive than traverse city homes yet few people would ague that Travese City is not the more desirable of the two cities. From a perspective of which city is nicer to live in. However it is also impractical for many people since it is too far from commercial centers.

Of course you also have to factor in the kind of homes that are build in the location and whether the location is considered exclusive. Bay Harbor Michigan has an average square footage price of $554 according to one of the online real estate sites. It is more describable than Birmingham? The city of Compton California is at $313. Are you saying Compton is more desirable than Northville? If so, you hve never been there. Santa Ana California is at $378, so Santa Ana is more desirable than Birmingham.

Oh wait, you have to consider other factors?
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Old 08-08-2017, 04:37 PM
 
979 posts, read 1,115,239 times
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Desirable is highly subjective in the eye of the beholder.

However consider this little stat, looking at # of homes on the market >$1 M:

Birmingham: 68
Bloomfield Hills / Twp: 155
West Bloomfield: 42
Troy: 11

Northville: 6
Northville Twp: 30
Plymouth:1
Plymouth Twp: 6

Grosse Pointes: 27

Rochester / Rochester Hills: 23
Oakland Twp: 31
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Old 08-08-2017, 05:07 PM
 
Location: Back in the Mitten. Formerly NC
3,819 posts, read 5,460,894 times
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Quote:
Originally Posted by DTWflyer View Post
Desirable is highly subjective in the eye of the beholder.

However consider this little stat, looking at # of homes on the market >$1 M:

Birmingham: 68
Bloomfield Hills / Twp: 155
West Bloomfield: 42
Troy: 11

Northville: 6
Northville Twp: 30
Plymouth:1
Plymouth Twp: 6

Grosse Pointes: 27

Rochester / Rochester Hills: 23
Oakland Twp: 31
I don't feel like the data is relevant. It is almost impossible to really compare. There is a larger percentage of million dollar plus homes in some of these communities, namely the ones with the higher DOM. You see low DOM numbers when a price point is less common.
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Old 08-08-2017, 05:25 PM
 
979 posts, read 1,115,239 times
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I'm not really trying to compare price per square foot or apples to apples per say, but that at first glace there are a lot of $1M+ homes in Birmingham in a city that less than 4 sq. miles in size.
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