The Dexter Real Estate Market Report for inventory over the last 6 months has many of the same indicators as the Ann Arbor real estate market.
In the $200K to $300K price range there were 54 Active homes on the market with the Median list price of $249,900 and approximately 40 median days of inventory on the market. There were 42 homes sold in this price range with a median sale price of $244,000. The absorption rate of Dexter homes falls at 7.7 months of inventory approximately.
The absorption rate is a leading indicator showing sellers the approximate months of inventory that is available on the market. With 7.7 months of inventory the heat index shows us that this is middle ground for both buyers and sellers of Dexter homes. Absorption Rate estimates how long it would take to sell off the current inventory of properties if all conditions remained the same. Read the Dexter Real Estate Report in full to keep informed about your local Dexter market. Find out what your neighbors home sold for.
Now look at what happens if you are a Seller or Buyer in a price range of $100K to $200K. There were fewer homes listed totaling 22 out of the 186 Active Listings with an average list price of $175,395 and there were 44 listings sold out of 140 Closed properties averaging 77 days on the market with an average sold price of $157,813. The absorption rate moved in a direction favoring a Seller’s market vs. a Buyer’s market. So, if you have a home in this price range in Dexter, this is the time to list your home. We have bidding wars on the Dexter homes that are in perfect condition and priced properly. We know how many showings you should be getting and guide you on the market conditions. Your motivation determines your selling course.
Following the heat index, at the bottom of the chart below, the absorption rates shows that the Dexter Real Estate Market is running mild to cool with 8 months of inventory favoring both Buyers and Sellers on average. However, in the price range of $400K – $900K the Dexter Real Estate Market favors the Buyers. There were 52 homes on the market and 17 homes sold.
To search for listed properties in the Dexter area go to HomeSearchAnnArbor.com.
Kathy Toth and Team | Keller Williams Market Center | Ann Arbor or call 734.426.6669