Troy, Michigan, Realtors believe one good reason buyers should consider their city is the excellent municipal management, among other reasons.

"Troy has an award-winning school district, excellent municipal services, and is home to the region's premier shopping center," say Realtors Maureen Francis and Dmitry Koublitsky. "Troy has much to offer, with a wide range of housing options ranging from new brownstones to million-dollar homes. The city's municipal services are outstanding, with a great aquatic center, many parks, and a strong parks and recreation program. Troy is also home to the Somerset Collection, a high-end shopping center anchored by Saks Fifth Avenue, Nordstrom, and Marshall Fields.

"There are currently 307 single family homes on the market in Troy," says the team, "ranging in price from $139,900 to $1,499,000. The average list price in Troy is $363,278. Average market time today is between 80 and 100 days. There are also 76 condominiums on the market in Troy. They range in price from $132,000 to $785,000. The average list price for condominiums is $268,870."

Says Realtor Midge Moran, "A vibrant community offers top schools, unsurpassed shopping, a balanced community rich in cultural diversity, community wellness, and economic vitality. The good news is that it looks like, the real estate market is on the upswing. This is an ideal time for buyers to take advantage of market conditions as they start their rise. The 30-year fixed mortgage rate, although fluctuating slightly, remains in the 5.6 range. Sales of new and existing homes set records in 2004, as mortgage rates remained at their lowest levels in more than four decades. Even with expected increases in mortgage rates this year, housing sales will dip only slightly from their record levels."

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Published: March 18, 2005

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