helen, Home Buyer in Ann Arbor Township, MI

Price ave. of home sales in Chelsea

Asked by helen, Ann Arbor Township, MI Thu Jan 9, 2014

This question was asked from http://www.trulia.com/property/3138115002-4167-Woodland-Dr-A…

Help the community by answering this question:


Let's take a look at the Saline real estate market. Currently there are 8 sales pending in the
market overall, leaving 118 listings still for sale. The resulting pending ratio is 6.3% (8 divided by 126). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad
you asked!

The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply of homes in Saline .

"Current inventory is described as somewhat slow." Taking a closer look, we notice that
the $200K - $300K price range has a relatively large number of contracts pending sale.

We also notice that the $300K - $400K price range has a relatively large inventory of properties for sale at 32 listings. The median list price (or asking price) for all properties in this market is $364,950. A total of 199 contracts have closed in the last 6 months with a median sold price of $279,000. Breaking it down, we notice that the $200K - $300K price range contains the highest number of
sold listings.

Alternatively, a total of 46 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed,
the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.

The $300K - $400K price range has a high number of off-market listings at 13 properties.
I have the charts (cannot get them to display here) and absorption rates 734-669-0337.

Updated on 1/5/2014, Copyright © Kathy Toth & Team

0 votes Thank Flag Link Sat Jan 11, 2014
The average price per home sale in Chelsea year to date through the month of November 2013 was $ 250,303.00, this represents a +14.32% increase form 2012, where the Average price per home was $214,443.00. These number come from 164 home sales in Chelsea in year to date. Average price per square foot in Chelsea has been as Hing as $145 a sqft and as low as $107 a sqft. depending on the time of the year, currently it is right around $131 a sqft. If you would like more information or have more questions regarding Real estate, feel free to contact me I would be happy to put my expertise to work in helping you reach your real estate goals. Take care John

John Ramirez
REALTOR Real Estate One
0 votes Thank Flag Link Fri Jan 10, 2014
House prices in Chelsea have a wide range. The average price for 2013 as of November was $250,000. But there are small ranch homes for $140,000 up to large luxury homes. It also depends on whether the home is near the center of town or out in the rural areas with more acreage. I live in Chelsea and am quite familiar with all the neighborhoods, schools, parks, traffic patterns and shopping. I'd be happy to answer more of your questions.

Feel free to call me or email directly.

Pat Daum
Daum Group Real Estate
Keller Williams
0 votes Thank Flag Link Fri Jan 10, 2014
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