Dexter, Michigan Real Estate Results Shows 12.5 Months of Homes Available for Sale
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.
Continue reading “Dexter Market Results for April Show Price Per Square Foot Trend is Down Slightly”