Chelsea real estate market explained by Toth

CHELSEA REAL ESTATE MARKET REPORT SEPTEMBER 2016

Chelsea Real Estate Market is explained by expert Kathy Toth. Let’s take a look at the Chelsea real estate market. There are 5 Chelsea homes pending in the market overall.  This leaves 101 Chelsea homes still for sale. The resulting pending ratio is 4.7% (5 divided by 106). So you might be asking yourself, that’s great… but what exactly does it mean? We are glad you asked!

The pending ratio indicates the supply & demand of the Chelsea real estate market. Specifically, a high ratio means that listings are in demand and selling quickly. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.

Taking a closer look, we notice that the $200K – $300K price range has a relatively large number of contracts pending sale.

Notice that the $200K – $300K price range has a relatively large inventory of properties for sale at 39 listings. The median list price (or asking price) for all properties in this market is $303,495.

Chelsea real estate for sale compared to pending
Chelsea real estate for sale compared to pending
Chelsea real estate for sold
Chelsea real estate sold

A total of 151 homes have closed in the last 6 months.  They have a median sold price of $265,000. Breaking it down, we notice that the $200K – $300K price range contains the highest number of sold listings.

Alternatively, a total of 16 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 the highest number of off-market listings at 4 properties.

Chelsea real estate median days on market
Chelsea real estate median days on market

You might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 46 days.

Analysis of sold properties for the last six months reveals a median sold price of $265,000 and 24 days on market. Notice that property in the $0K – $100K price range has sold quickest over the last six months.

The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $243,000 with a DOM of 26 days.

Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 4.0 months supply.  This is based on the last 6 months of sales. This estimate determines how long it would take to sell off the current inventory of properties if all conditions remained the same. This estimate does not take into consideration additional properties that will come onto the Chelsea market in the future.

Chelsea real estate median sold prices off market
Chelsea real estate market median sold prices off market

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dexter real estate

DEXTER REAL ESTATE MARKET REPORT SEPTEMBER 2016

Let’s take a look at the Dexter real estate market. Currently, there are 21 Dexxter home sales pending in the market overall, leaving 153 Dexter homes still for sale. The resulting pending ratio is 12.1% (21 divided by 174). 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 Dexter Real Estate 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.

Taking a closer look, we notice that the $300K – $400K 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 38 listings. The median list price (or asking price) for all properties in this market is $428,985.

Dexter Real Estate homes for sale compare to homes pending
Dexter Real Estate homes for sale compare to homes pending
Dexter Real Estate Number of Homes Sold
Dexter Real Estate homes sold compared to homes expired

A total of 230 contracts has closed in the last 6 months with a median sold price of $318,350. Breaking it down, we notice that the $200K – $300K price range contains the highest number of sold listings.

Alternatively, a total of 13 listings has 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 $200K – $300K price range has the highest number of off-market listings at 5 properties.

Dexter Real Estate Median Sold Prices
Dexter Real Estate Median Days on Market DOM

Looking at the chart above.  You might be wondering why average days on market (DOM) is important. Days on market is useful measurement because it can help us to determine if we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active homes (properties for sale) have been on the market for a median time of 78 days.

Analysis of sold Dexter homes for the last six months reveals a median sold price of $318,350.  Homes have been listed  22 days. Notice that property in the $800K – $900K price range have sold quickest over the last six months.

The recent history of Dexter real estate sales can be seen in the two charts below. The median sold price for the last 30 days was $338,326 with a DOM of 30 days.

Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. Most noteworthy,  real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 4.0 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.

Dexter Real Estate Median Sold Prices
Dexter Real Estate Median Sold Prices

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SALINE REAL ESTATE MARKET REPORT SEPTEMBER 2016

Saline Real Estate Market Report Unveiled

Let’s take a look at the Saline real estate market. Currently, there are 19 sales pending in the saline real estate market overall, leaving 172 listings still for sale. The resulting pending ratio is 9.9% (19 divided by 191). So you might be asking yourself, that’s great… but what exactly does it mean?  We are 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.

Taking a closer look, we notice that the $400K – $500K price range has a relatively large number of contracts pending. Most noteworthy is the $400K – $500K price range has a relatively large inventory of properties for sale at 40 listings. Hence, the median list price (or asking price) for all properties in Saline Real Estate market is $415,950.

Saline Real Estate Market number of homes for sale
Saline Real Estate Market
Saline Real Estate Market number of homes SOLD
Saline Real Estate Market number of homes for sale

A total of 235 contracts has closed in the last 6 months with a median sold price of $344,000. Breaking it down, we notice that the $300K – $400K price range contains the highest number of sold Saline homes.

Alternatively, a total of 14 listings has failed to sell in that same period of time. Homes 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 the highest number of off-market listings at 4 properties.

Saline Real Estate Market
Saline Real Estate Market median days

Looking at the chart above, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 57 days.

Analysis of sold properties for the last six months reveals a median sold price of $344,000 and 15 days on market. Notice that property in the $1.0M – $1.1M price range has sold quickest over the last six months.

The recent history of Saline sales can be seen in the two charts below. The median sold price for the last 30 days was $310,653 with a DOM of 15 days.

Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 4.4 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.

Saline Real Estate Market median sold prices
Saline Real Estate Market median
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