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.
The economy still has a lot of ground to cover before achieving its full, sustainable recovery. The stagnant job market continues to be a cause for concern, but overall, financial conditions have improved. Mortgage rates continued to set new record lows last month. Coupled with lowered home prices, the favorable affordability condition is drawing buyers back into the market.
We are selling homes and are happy to provide you with data to make informed choices. So far 217 homes have sold in the last 12 months, from 1 bedrooms to 5, and from 1 baths to 5 and the average sold price per square foot is now $115.95. The highest sold price was $975,000 with lowest at $27,900. The average list price to sales price was 96 percent.
Since we actually sell more homes in Dexter than any other agent, we are acutely aware of homes that have languished on the market and like other States in the US, have watched the number of homes that have sold as foreclosures increase. Banks are hiring us to sell foreclosures. We know about these long before they come on the market. so if you want inside info, call us. Check our Ann Arbor Area Real Estate EBook out.
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Dexter House Hunters Video
What is selling in Dexter, Michigan?
For detail on recent Dexter real estate market data.
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