There is a positive Upward Trend in the Manchester Real Estate Market. When reviewing the 24-month chart below, for the Manchester area, we need to pay close attention to the red line on the chart. The red line indicates an upward trend in the Linear (Average Square Foot / Sale Price). The average square foot price is now hovering around $90.00 per square foot for the month of November, 2011, as compared to November 2010 at approximately $77.00 per square foot. This year, compared to last year shows an approximate 27.76 percent increase in the average linear sales price per square foot in Manchester, Michigan. This is very good news for Sellers and REALTORs alike. Home sales are remaining constant at 56 homes sold each year for 2 years in a row. At least the market is running flat and appears to be stabilized over the same 2-year time frame. 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 and keep them informed of market conditions.
To take advantage of a buying opportunity and look for all the real estate deals www.homesearchannarbor.com .
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Kathy Toth, CDPE, Associate Broker: KW, CEO Kathy Toth and Team 734-426-6669