Chelsea Area Market Report Over the Last 6 Months

Posted by Toth Team Worldwide on December 18, 2012

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Let’s take a look at the real estate market.

Currently there are 8 Chelsea home sales pending in the market overall, leaving 97 listings still for sale. The resulting pending ratio is 7.6% (8 divided by 105). 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 Chelsea Real Estate market. Specifically, a high ratio means that homes are selling and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. “Current inventory is described as somewhat slow.”

Taking a closer look, we notice that the $0 – $100,00 price range has a relatively large number of contracts pending sale. We also notice that the $200,000 – $300,000 price range has a relatively large number of Chelsea homes for sale at 32 listings. The median list price (or asking price) for all properties in this market is $249,900. A total of 118 Chelsea homes have closed in the last 6 months with a median sold price of $184,500. Breaking it down, we notice that the $100,000 – $200,000 price range contains the highest number of sold Chelsea homes.

Search for Chelsea homes with our Free Online Search Engine HomeSearchAnnArbor.com. Put it on your mobile phone! Look, we are working during the Holidays, call us 734-669-0337.

Kathy Toth and Team, Keller Williams Realty. Visit us on the web at www.KathyToth.com

Real Estate Market Improves; Reports for July 2012

Posted by Toth Team Worldwide on August 21, 2012

What did your neighbors house sell for? Check out National and Ann Arbor Real Estate market video.

We report the Ann Arbor Area Real Estate market in detail so our clients make informed decisions.

The Ann Arbor real estate market in Michigan is up in all brackets according the the Michigan Association of REALTORS Residential Sales Stats reported by all local boards across the state. Ann Arbor shows improvement in comparing July 2012 to July 2011 stats with the number of Sales up 6.65% and the Average Price is up 11.81%. The Year-to-Date category is also improved showing the July number of sales increased 6.64% year-to-date over last year and the July Average YTD Price increased over last year by 8.24%.

Below is the full Michigan Association of REALTORS report – Click report below to see larger image.

Want to see details for Days On Market (DOM) for homes in Dexter, Chelsea, Saline or Ann Arbor: get your free copy?

Chelsea Real Estate Market Inventory Down – 8.7 Months Supply

Posted by Toth Team Worldwide on August 15, 2012

Chelsea, Michigan Clock Tower — 75th Annual
Chelsea Community Fair
Aug. 21 – 25, 2012

The Chelsea Real Estate Market Report provides Buyers and Sellers with more than just statistics – The report provides direction as to where the Chelsea real estate market is currently. This report breaks down Days on Market in smaller market segments. The information in this report tells buyers whether inventory is high or low depending on their particular bracket and whether this is a good time to put your house on the market and likewise a good time to purchase a new home.

For instance – Absorption Rate is an interesting statistic that indicates to buyers and sellers whether the real estate market is giving way to a buyer’s or seller’s market. To derive the Absorption Rate you only need 2 numbers. How many active Chelsea homes (homes currently for sale) and the total number of homes that have sold over a specific period of time. You can also break this down into brackets. For our example I will be using the bracket of $150K – $200K to come up with the Absorption Rate for Chelsea homes in that price range.

To calculate the Absorption Rate – start by calculating the average sales per month. Our bracket had 23 Sales divided by 6 months of data giving us 3.83. Now divide the total number of active listings, which is 32 in our bracket, by 3.83 (the average number of sold properties) and you will get the absorption rate which is 8.35. Remember these are just approximate months of inventory that we are determining considering all data remains constant.

By placing the Chelsea Absorption Rate into a heat index, located along the right hand side of the chart below for each bracket gives us the absorption rate of every segment of the inventory. The color Red indicates a favorable Selling Market and Blue indicates a Buyers Market. To read the complete report and see a larger image of the chart below go to the August Issue of the Chelsea Real Estate Market Report.

The $150K – $200K bracket leads the way with Active Homes @ 32 with a median of 77 days on market (DOM) with a median list price of $174,950. Advancing over in this bracket out of the 95 properties that sold in Chelsea over the past 6 months 23 properties sold in this bracket with a median price of $174,000 and 63 DOM. The absorption rate (approximate months of inventory) shows 8.3 months of supply. If no other homes came on the market, it would take8.3 months for all of those homes to sell. The 8.3 months is cool to mild. Keeping in mind that moving toward the Blue color indicates a Buyers Market and moving toward the Red favors a Sellers market.

Looking at Chelsea as a whole the absorption rate indicates favorable market for both buyers and sellers. The $200K – 250K bracket is the only segment leaning toward the Seller’s Market. Properties in the $400K – $450K price range have sold quickest over the last six months.

Buyers – this is a terrific time to purchase a home in the Chelsea, MI real estate market,. The heat index indicators are showing yellow to blue which is great for buyers and interest rates are presently at an all time low. This is a perfect time to buy.

The Chelsea Absorption rate is 8.7 months. Call the Toth Team at 734.426.6669 and set up an appointment to go over the home buying process or to determine the right time to list your home. To search for homes currently on the market – for free – go to www.HomeSearchAnnArbor.com. You can search using your smart phone.

Chelsea Real Estate Market Trend Stabilizing in Price Per Square Foot Over Two Year Period

Posted by Toth Team Worldwide on December 13, 2011

Chelsea real estate market is stabilizing, oh-so-slightly, with an upward trend. I am so delighted to provide you with this encouraging news. Sales are continuing to be seasonally steady and this has both Sellers and REALTORS very happy.

The Linear (Average Sale Price per Square Foot) is up approximately $1.00 per sq. ft. on the linear line from the same time one year ago. This is just an indicator and will fluctuate right along with the number of homes sold each month but at least we are beginning to see some stability in the real estate market. Though the number of homes sold is down approximately 20% from last year in Chelsea, our linear line is still headed in an upward direction in Sale Price per Square Foot. No one’s complaining about this news as the trend is staying relatively stable and not declining. We are looking optimistically to the New Year.

Buyers as well as Sellers should pay close attention to these indicators. While trends are showing small signs of a recovery, it’s a great time to take the next step to home ownership or listing your home for sale. Call to schedule an appointment.

I would like to thank Peter W. Hendershot, State Licensed Real Estate Appraiser, Business Development Manager, Affinity Valuation Group for putting this chart together for all of us to analyze. This data is shared with your local REALTORs, lenders, builders and lawyers so we can assist our clients.

To take advantage of buying opportunity, look for all the real estate deals www.homesearchannarbor.com and investigate foreclosures here. http://www.homesearchannarbor.com/guide/Foreclosure_%7C_Bank-owned

We know about homes before they hit the market, just call or email what you need.

look for all the real estate deals www.homesearchannarbor.com and investigate foreclosures here. http://www.homesearchannarbor.com/guide/Foreclosure_%7C_Bank-owned

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WHAT IS MY ANN ARBOR AREA HOME WORTH?

Chelsea Luxury Home Market

Posted by Toth Team Worldwide on October 2, 2011

Chelsea, Michigan Luxury Home Sales
All markets across the board in Ann Arbor have been affected by the economy and local unemployment.

Some of the finest homes in South Eastern Michigan are in Chelsea, Michigan. Three homes have sold in excess of $500,000.

The Chelsea luxury market is very small so you won’t even have a hundred homes to choose from. If you decide to buy in Chelsea or Ann Arbor, Michigan and this area fits your budget make sure you put it on your list. Very few areas can offer lakes, boating, dining ( Common Grill)and super easy convenience to shopping, golf, tennis, arts, Purple Rose, culture, and other entertainment. Did you know these 3 homes sold this year for over $500,000? They had an average sold price per square foot of $141.45 as shown in chart. The Chelsea luxury homes sold are pictured to left:

For more information on our Chelsea luxury real estate market and updated pricing, call 734-274-9544 . Where do you want to shop for your next Ann Arbor Area home? Have a house to sell befor you can trade up? Ask about Your Home Sold Guranteed in Ann Arbor MI.

We have insider access to many Chelsea and Ann Arbor neighborhoods. Often we know of upcoming listings and banks hire us to market their properties so we know about foeclosures before they hit the market.

Chelsea Real Estate Market Sold Price Per Sq Ft and Number of Sales Trends for April 2011

Posted by Toth Team Worldwide on October 1, 2011

Chelsea, Michigan Real Estate Statistics show 8.2 months supply

If no other homes come on the market, it would take about 8 months for those homes to sell. Anything over 6 months represents a buyers market. Click on picture for Chelsea, Michigan Tour.

The Chelsea Real Estate Market average sold price per square foot is graphed below courtesy of Affinity Valuations Group, LLC. The average sale price per square foot has trended down over the last 12 months and hovers around $97.00 per square foot.

As of February, there were 114 active Chelsea homes for sale: ranging from 1 bedroom to 6, 1 bath to 4 and prices from $64,900 to $2,200,000. The average asking list price per square feet is now at $128.16 which is higher than last month and average asking price is $281,298. If you want Chelsea properties or Ann Arbor properties click either.

There have been 181 homes sold in Chelsea in the last 12 months ranging in bedrooms from 1 to 6 and baths from 1 to 7. The largest home sold is 5,300 square feet and the smallest at 528 square feet.

The average list price of the homes that sold in the last 12 months is $183,197 and the average sold price is up to $173,720. This represents an average sold price per square feet of $95.40. The sellers got an average of 95% of asking price these last 12 months.

There is about an 8 month supply of homes for sale in Chelsea, Michigan, so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market. The inventory under $200,000 is shrinking and we are seeing multiple offers. There is still an abundance of choice, low interest rates and great prices.

The charts below show the trends over the last 12 months. Sold prices are down 4.8 percent for February ’10 to February ’11. Asking prices were down 25.3 percent for the same period.

At least the number of active homes for sale is trending down slightly indicating we are on the way to stabilizing, due to the home buyer credits that were in place. To be one of the homes picked, keep in mind this is a price war and a beauty contest. Consult with your agent about making your home stand out. Ask about staging your Chelsea home.

In the chart below, you can see that the number of homes for sale from February ’10 vs. February ’11 is down 30.9 percent while the number of homes sold during this time frame is down 70 percent.

There is still an abundance of choice, low interest rates and great prices. Let us know if you are coming to our next home buyer round table/seminar this month: 734-845-6542. If you want to glimpse our Ann Arbor Area videos, click here. If you want a bank owned home, call us. Banks hire us to sell these homes and we know about these Ann Arbor Area foreclosures long before they are ready to come on the market. We are certified distressed property experts.

Want to know what your Ann Arbor Area home is worth?

Chelsea Real Estate Statistics

Dexter Real Estate Statistics

Saline Real Estate Statistics

We enjoy Chelsea; check out The Purple Rose Theater, and stop by the Common Grill . Or pick up a bottle of Michigan wine at The New Chelsea Market. Drop by the Tea Salon to take in trade closthing or socialize over tea. Take a class at the Chelsea Center For The Arts. Chelsea may be overflowing with old charms, but it’s very much attuned to what makes a downtown vibrant. And if that isn’t here-and-now enough for you, Chrysler’s Proving Grounds are situated just outside the city’s limits.

Category: Chelsea Real Estate Statistics