Westridge of Dexter – Real Estate Update New Homes Selling and Trail Connection

Want to know what is going on in Westridge of Dexter?  Westridge is located on the corner of Island Lake and Dexter-Pinckney Road. The great news in Westridge of Dexter subdivision is that new-home construction continues to be strong.  The completion of the Hike/Bike Trail under the Rail Road Bridge and over the Mill Creek waterway from downtown Dexter to Westridge has already proven to be a success.  Homeowners are enjoying the boardwalk connecting them to downtown Dexter. They can set the car keys aside and choose to ride their bicycle, jog or walk to town with ease and not have to drive into town. This boardwalk will attract more buyers to Westridge just knowing this safe walkway into Dexter’s downtown district is available.  Westridge of Dexter is now fully connected to the entire Dexter community from end to end.  Here are some of the other plans the recreation committee for Dexter have in the works.  Read the entire Recreation Report – skim through to page 28 for walking trails planned for Dexter, Michigan.

Click Westridge Subdivision video and find out more on Westridge of Dexter and read of copy of the master deed.

Property Report for Westridge of Dexter shows 8 sold homes mapped below year to date.

The 2 charts below provide data that was collected from the Ann Arbor Area Board of REALTORS Multiple Listing Service.

8 Sold Homes in West Rdge

Below is the sold data for all homes sold from January 1, 2012 through the end of July. The average sold price was $250,161.  The average sold price was higher than the actual list price in some cases.  The average Sale Price/Sq.Ft is $125.11.  Homes with higher square footage are also selling well in Westridge with longer days on market (DOM).


5 West Ridge Homes for Sale

There are 5 currently listed homes in Westridge.  The highest priced home is valued at $277,200.  Of the 5 homes on the market the average list price is $263,200 and the average list price/square foot is $118.21.  There is very little inventory on the market right now and that makes for a positive sellers market.  

Absorption Rate

The absorption Rate (Months of Inventory)  is an estimate of how fast listings are currently selling measured in months.  Click here for Dexter Market Statistics and find your where your home sits. For example, if 100 properties sell per month and there are 800 properties for sale – there is an 8 month supply of inventory before counting the additional properties that will come on the market.  Taking our stats of 5  homes for sale and 8 sold homes, the calculation would be based on  7 months of inventory. Take the 8 sold properties, divided by the last 7 months = 1.14.  Then take the number of homes for sale which is 5 and divide by 1.14 and the answer is 4.39 months of inventory.  These results give an estimate considering all inventory remains constant.  There will be other homes coming on the market so for your home to receive the most attention the property should be priced properly depending on the location and the condition of the propert

If you would like to know what your home is worth now, click here.

Search for homes in Dexter at Home Search Ann Arbor.

First-Time-Buyer information.

Kathy Toth and Team, Keller Williams Realty| Ann Arbor Market Center, Ann Arbor, MI| Dexter Real Estate Experts


Real Estate Market Improves; Reports for July 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.

Michigan Association of REALTORS July 2012 Report

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

Number of Homes for Sale Down in Dexter Real Estate

Dexter Median Days on MarketThe Dexter Real Estate Market Report for inventory over the last 6 months has many of the same indicators as the Ann Arbor real estate market.

In the $200K to $300K price range there were 54 Active homes on the market  with the Median list price of $249,900 and approximately 40 median days of inventory on the market. There were 42 homes sold in this price range with a median sale price of $244,000.  The absorption rate of Dexter homes falls at 7.7 months of inventory approximately.

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Dexter Real Estate Report

The absorption rate is a leading indicator showing sellers the approximate months of inventory that is available on the market.  With 7.7 months of inventory the heat index shows us that this is middle ground for both buyers and sellers of Dexter homes.  Absorption Rate estimates how long it would take to sell off the current inventory of properties if all conditions remained the same.  Read the Dexter Real Estate Report in full to keep informed about your local Dexter market.  Find out what your neighbors home sold for.

Now look at what happens if you are a Seller or Buyer in a price range of $100K  to $200K.  There were fewer homes listed totaling 22  out of the 186 Active Listings with an average list price of $175,395 and there were 44 listings sold out of 140 Closed properties averaging 77 days on the market with an average sold price of $157,813.  The absorption rate moved in a direction favoring a Seller’s market vs. a Buyer’s market.  So, if you have a home in this price range in Dexter, this is the time to list your home.  We have bidding wars on the Dexter homes that are in perfect condition and priced properly.  We know how many showings you should be getting and guide you on the market conditions.  Your motivation determines your selling course.

Following the heat index, at the bottom of the chart below, the absorption rates shows that the Dexter Real Estate Market is running mild to cool  with 8 months of inventory favoring both Buyers and Sellers on average.  However, in the price range of $400K – $900K the Dexter Real Estate Market favors the Buyers.  There were 52 homes on the market and  17 homes sold.  

To search for listed properties in the Dexter area go to HomeSearchAnnArbor.com.

Kathy Toth and Team | Keller Williams Market Center | Ann Arbor or call 734.426.6669

Real Estate Trending Upward in Dexter Real Estate Market

Dexter real estate market is trending upward.  I am so delighted to provide you with more encouraging news. Sales are continuing to be seasonally steady and this has both Sellers and REALTORS very happy.

When reviewing the chart below, we should pay close attention to the red line on the chart which indicates an upward trend in the Linear (Average Square Foot / Sale Price) which is now hovering around $117.00 per square foot for the year end 2011.  The Linear (Average Square Foot) price is up by approximately $10.00 per square foot from the same time in December 2009.  The number of homes sold is up approximately 10% from last year as well.  So, in review of the trend over the past 2 years in Dexter, the market looks to be stabilizing and trending upward.  No one’s complaining about this kind of good news as the year 2011 soon comes to a close.

Buyers as well as Sellers should pay close attention to these indicators.  While trends are showing 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.

 Positively Yours,

Kathy Toth, CDPE, Associate Broker: KW, CEO Kathy Toth and Team  734-426-6669





Dexter Market Results for April Show Price Per Square Foot Trend is Down Slightly

Dexter, Michigan Real Estate Results Shows 12.5 Months of Homes Available for Sale

Dexter residential supply is now about 12 months. It would take 12 months for all the homes to sell if no other homes came on the market. Anything over 6 months supply is a buyers market. For the Dexter Luxury Market, check out this post.

The Supply and Demand (#Units FS, Sold) chart below shows February ’10 compared to February ’11. The number of homes listed for sale is down 18.1 percent and the number of sold units is up 80 percent. The annual trend lines show the number of homes offered for sale decreased and number of Dexter sales is flat.

Below, Median Price (FS, Sold) February ’10 vs. February ’11, the Dexter sellers asking list prices are 10.2 percent lower and median sold prices are down 14.2 percent. The annual trend lines indicates slight upward motion in Dexter median sales prices.

The trend line charted by Affinity Valuations, Inc indicates the average sale price per square feet has been lowering to just under $110 per square feet for Dexter Real Estate through the last last 24 months.

Continue reading “Dexter Market Results for April Show Price Per Square Foot Trend is Down Slightly”