Saline residential supply is now about 11.7 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.
The chart provided by Affinity Valuations, appraisal company, shows the trend line of average sale price per square feet sold in Saline over the last 12 months. As you can see the trend line shows prices trending from just under $120 per square feet to about $110 over the last 24 months.
Over the last 12 months 263 homes have sold ranging in bedrooms 1 to 6 and baths from 1 to 5. The home sizes sold ranged from 590 square feet to 7,509 sf. The list prices were from $23,700 to $799,900. The highest sale price was $725,000; average sold price for the year was $259,255. Sellers received an average sold price compared to list price of 96%.
There are 217 active Saline homes for sale ranging from 1 bedroom to 6 and 1 baths to 6. The homes range in size from 800 square foot to 7,168 square foot. The list prices are from $67,900 to $2,750,000.
Shown in chart below, Saline asking prices were down .8 percent from February ′10 to February ’11 and median sold prices are down 20.9 percent for this time frame.
The chart below shows that the number of homes for sale from February ’10 vs. February ’11 is down 14.8 percent and number of homes sold during this time frame is up 55.6 percent.
All in all it remains a buyers market regarding Saline Real Estate with a buffet of opportunity, low interest rates and affordable homes. There are at many bank owned homes and many short sales. To find shortsales, click here. To buy the book Should I Short Sale My Home, click here. With all Saline has to offer, it’s no wonder CNN/Money Magazine once again named us one of the country’s top 110 “Best Places to Live” out of more than 1,300 cities ranked.
Incidentally, watch us help a Saline couple sell their condo and move to Pinckney on House Hunters HGTV.