Up, Up, Up and Away, Saline, Michigan Real Estate Market is all Good News

Saline Real Estate Upward MovementPositive upward movement in the Saline Real Estate Market.  After reviewing the 24-month chart below, for the Saline, Michigan real estate area there is nothing but good news. Let’s focus in on the red line in the chart. The red line indicates an upward trend in the Linear (Average Square Foot / Sale Price).  The average square foot price is now hovering on the linear red line at around $118.00 per square foot for the month of November, 2011, as compared to November 2010 at approximately $98.00 per square foot. This year, compared to last year shows an approximate 3.9 percent increase in the linear (avg. square foot / sale price) in Saline. This upward trend in sales price per square foot is very good news for Sellers and REALTORs alike.  Home sales are up by 4.65 percent compared to last year’s total number of sales.  This indicates that the market is showing signs of an upward trend and stabilizing slowly over the last 2 years.  Our linear indicator is moving upward. No one’s complaining about this kind of good news as the year 2011 soon comes to a close.  All statistics are worth reporting but it’s a lot more fun and encouraging to put out these positive statistics for Saline area homeowners.

Buyers, as well as Sellers, should pay close attention to these indicators.  While trends are showing signs of a recovery, it’s a great time to take the next step to home ownership or listing your home for sale.  Call to schedule an appointment.

I would like to thank Peter W. Hendershot, State Licensed Real Estate Appraiser, Business Development Manager, Affinity Valuation Group for putting this chart together for all of us to analyze.  This data is shared with your local REALTORs, lenders, builders and lawyers so we can assist our clients and keep them informed of market conditions.

Saline Real Estate Market Showing Signs of Improvement


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Saline Real Estate Market Sold Price Per Square Feet for April 2011 Trends Down Slightly since May 2009

How much are homes selling for with regard to average Sales Price per Square Feet? The average sold price per square foot is about $108.

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.

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