Current Saline Real Estate Market Data, click here. Saline is in a Sellers market.
Market Report
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The recent history of sales can be seen in the two charts above. The median sold price for the last 30 days was $262,500 with a DOM of 53 days. Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Looking at the chart below, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 87 days. Analysis of sold properties for the last six months reveals a median sold price of $272,500 and 41 days on market. Notice that properties in the $600,000 – $700,000 price range have sold quickest over the last six months.
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