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.
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.
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.
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.