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 Valuation Group, an appraisal company, shows the trend line of average sale price per square feet sold in Saline over the last two years. As you can see the trend line shows prices trending from just under $110 per square feet to about $114 over the last 24 months.
Over the last 12 months 262 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 square feet. The list prices were from $23,700 to $849,900. The highest sale price was $790,000; average sold price for the year was $261,070. Sellers received an average sold price compared to list price of 79%.
There are 243 active Saline homes for sale ranging from 1 bedroom to 6 and 1 bath to 5. The homes range in size from 600 square feet to 7,168 square feet. The list prices are from $79,900 to $1,400,000.
Shown in the chart below, Saline asking prices were up 4.3 percent from July ′10 to July ’11 and median sold prices are up 2.4 percent for this time frame.
The chart below shows that the number of homes for sale from July ’10 vs. July ’11 is down 16.4 percent and number of homes sold during this time frame is up 52.6 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 short sales, 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.