Ypsilanti’s Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ypsilanti, Michigan real estate market stats and delivers exciting insights into the status of the Ypsilanti real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ypsilanti’s Real Estate Market

The 2021 Ypsilanti real estate market continues to be a strong seller’s market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ypsilanti in the month of June 2021, was $241,174. Compared to June of 2020, this is up 17.60%. The median sales price also saw a pretty significant jump in June. Median sales price rose 11.14% to $225,000, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 12 days. This is down nearly 71.92% from June 2020.

Near single digit days on market, dear reader, means that there is precious little in the way of inventory for buyers to consider. Of course, how many homes sold at or above list price is also an indicator…

Properties Sold At or Above List Price

June of 2021 saw a 48.08% increase in the number of properties sold, compared to June of 2020, with a total of 77 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Ypsilanti market. In June of 2021, 85.71% of the properties sold at or above list price.

When 85% of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market. This is the highest percentage among the Washtenaw county municipalities that we track.

What to do With This Information?

If you own a place in Ypsilanti, or are thinking of purchasing in Ypsilanti, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.

Ypsilanti Real Estate Market Snapshot Shareable Graphic

Saline Michigan Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Saline Michigan real estate market stats and delivers exciting insights into the status of the Saline Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Saline Michigan Real Estate Market

The 2021 Saline real estate market continues to be a strong sellers market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Saline in the month of June 2021, was $476,232. Compared to June of 2020, this is up 15.30%. The median sales price also saw a pretty significant jump in June. Median sales price rose 22.24% to $473,390, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 89 days. This is up over 54% from June 2020. On the surface, this looks like the Saline market is overloaded with inventory. The reality is that there were three new construction listings that finally closed. They had been listed since 2016. Those three sales with 4 years of days on market were enough to push the average days on market up to nearly three months.

Properties Sold At or Above List Price

June of 2021 saw a 62.50% increase in the number of properties sold, compared to June of 2020, with a total of 65 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Saline market. In June of 2021, 81.54% of the properties sold at or above list price.

When over 80% of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market. To be sure, Saline has seen a higher share of property selling at/above list for quite some time. For example, June of 2014 saw 70.37% of the 54 properties sell at or above list price.

What to do With This Information?

If you own a place in Saline, or are thinking of purchasing in Saline, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Saline sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.

Saline Michigan’s Real Estate Market Snapshot Shareable Graphic

Lincoln School District Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ypsilanti Township, Michigan real estate market stats and delivers exciting insights into the status of the Lincoln School district’s real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Lincoln School District Real Estate Market

The 2021 the Lincoln school district’s real estate market continues to be a strong sellers market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in the Lincoln School district in the month of June 2021, was $302,334. Compared to June of 2020, this is up 15.25%. The median sales price also saw a pretty significant jump in June. Median sales price rose 11.96% to $287,450, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 7 days. This is down over 79% from June 2020.

Single digit days on market, dear reader, means that there is precious little in the way of inventory for buyers to consider. Of course, how many homes sold at or above list price is also an indicator…

Properties Sold At or Above List Price

June of 2021 saw a 10.53% increase in the number of properties sold, compared to June of 2020, with a total of 42 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Lincoln School district’s market. In June of 2021, 90.48% of the properties sold at or above list price.

When over 90% of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market. This is the highest percentage among the Washtenaw county municipalities that we track.

What to do With This Information?

If you own a place in the Lincoln School district, or are thinking of purchasing in the Lincoln school district, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.

lincoln real estate market
Lincoln Schools District Real Estate Market Stats Snapshot Shareable Graphic

Ann Arbor Michigan Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ann Arbor Michigan real estate market stats and delivers exciting insights into the status of the Ann Arbor Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ann Arbor Michigan Real Estate Market

The 2021 Ann Arbor real estate market continues to be a strong sellers market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ann Arbor in the month of June 2021, was $486,439. Compared to June of 2020, this is up 28.26%. The media sales price also saw a pretty significant jump in June. Median sales price rose 26.46% to $411,000, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 25 days. This is down nearly 42% from June 2020. The continuing decline in the number of days on market speaks to a few things. First is housing supply; we simply do not have enough inventory coming to the market to match the demand for Ann Arbor homes. Second is the potentially prolonged times that homes that closed in June of 2020 endured because of the shut down we experienced.

Properties Sold At or Above List Price

June of 2021 saw a 10.05% increase in the number of properties sold, compared to June of 2020, with a total of 241 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Ann Arbor market. In June of 2021, 72.61% of the properties sold at or above list price; nearly three quarters of the 241 properties that sold.

When nearly three quarters of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market. To be sure, Ann Arbor has seen a higher share of property selling at/above list for quite some time. For example, June of 2014 saw 55.07% of the 227 properties sell for at or above list price.

What to do With This Information?

If you own a place in Ann Arbor, or are thinking of purchasing in Ann Arbor, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Ann Arbor sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Given that this is Ann Arbor, though, demand will always run higher than other communities around South East Michigan. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.

Ann Arbor Michigan Real Estate Market
Ann Arbor Michigan Real Estate Market Snapshot Shareable Graphic

47010 Northumberland, Novi, MI | Broadmoor Park Colonial

This Broadmoor Park home is on the market for the first time since being built. Upon entering this home you are greeted with hardwood floors and a grand, two-story foyer. A formal dining room and the home office are located immediately inside the front door. Moving deeper into this home, the family room, with included A/V system, and generously sized eat-in kitchen make entertaining a breeze! The kitchen features dark granite counters and white cabinets. Newer carpeting escorts you up the stairs, from the front door, or from the serving pantry, to the home’s 4 bedrooms. The owner’s suite is spacious, with an expansive ensuite full bath, featuring a tiled shower and separate soaking tub. The walk-in closet features built-in organization and natural light. The fully finished basement also features a full bath, additional space for entertaining, work out, or meditation space. Updates include: windows and doorwall – ’18, refrigerator -’19, clothes washer – ’20, hot water heater – ’17.

List Price:

$550,000

Details

Square Feet | 3,080
Bedrooms | 4
Baths | 3.1
Garage | 3 Car Attached
Appliances | Range/Oven, Refrigerator, Dishwasher, Microwave, Disposal, Family Room A/V system (3d TV, Speakers, Tuner)

Open Showing:
Sunday, March 28th 2 – 4p

Contact Todd for More Information

2985 Tall Oak Lane, Canton, MI | Tottenham Community

Canton’s Tottenham community has the home for you! The grand two-story entrance greets you, while the hardwood floors escort you deeper into this sunlight filled home. The two-story family room features floor to ceiling, East facing windows. The generously sized eat-in kitchen has an island and sliding doorwall to the back deck. Your backyard features a hot tub and peaceful views of the protected wooded space. The first floor also features a living room that opens to a spacious dining room, perfect for those holiday gatherings. Upstairs, the main bedroom features an ensuite full bath, with shower, spa tub, walk-in closet and separate vanities. Of the three remaining bedrooms, one has direct access to the guest bath. Newer hot water heater and carpeting upstairs.

List Price:

$375,000

Details

Square Feet | 2,654
Bedrooms | 4
Baths | 2.1
Garage | 3 Car Attached
Appliances | Range/Oven, Refrigerator, Dishwasher, Microwave, Disposal

Open Showing:
Sunday, March 7th, 2 – 4p

Contact Todd for More Information

How To Make Your Offer More Competitive

As the housing market in Ann Arbor continues to be highly competitive, with lower inventory levels and strong buyer demand, Studio Four8 remains committed to assisting buyers in helping their offers get noticed in a multiple bid scenario. To explain some of the techniques that we recommend to make your offer more competitive, and frequently use, we gathered to shoot a series of videos.

These four videos, each about a minute to a minute and a half in length, provide insight on what we’ve seen work in multiple bidding scenarios.

If you have questions, or would like to put Studio Four8 to work for you, simply fill out the form below.

Studio Four8 Partner, Sara Maddock | sara@saramaddock.com | 734-649-1180
Studio Four8 Agent, Dan Kurylo | dan@dankurylo.com | 517-304-3125
Studio Four8 Partner, Jeffrey Post | jp@jpostrealestate.com | 734-476-8326
Studio Four8 Partner, Todd Waller | todd@toddwaller.com | 734-564-7465

Make your offer more competitive

47701 Fieldstone Dr, Northville, MI | Village at Northville

This MIHomes Ludington Model in the Village at Northville is waiting for you to call it home. Hardwood floors greet you as you enter this 2,537 sf home and escort you into the great room that effortlessly flows into a grand kitchen, built for cooks and entertaining. Kitchen features stainless steel appliances, custom backsplash, quartz countertops, and an island featuring additional storage and a place to gather. Off the eat-in kitchen, through the sliding doors, a Trex deck increases your entertainment options. Upstairs, 3 generous bedrooms offer a retreat from the everyday. The loft can easily serve as a family room, or be converted into a fourth bedroom. The main bedroom features a tray ceiling, with ceiling fan, and crown molding. Attached bath features a luxurious, tiled shower, and expansive walk in closet. Unfinished basement is plumbed for a full bath and has an egress window already installed for your finishing touches. Get into your new home quickly, without the need to wait for the builder.

List Price:

$540,000

Details

Square Feet | 2,537
Bedrooms | 3
Baths | 2.1
Garage | 2 Car Attached
Appliances | Range/Oven, Refrigerator, Dishwasher, Microwave, Disposal

Contact Todd for More Information

39478 Springwater Dr, Northville, MI | Updated Springwater Park Townhouse

This walkup, Springwater Park townhouse is updated, and waiting for you to call it home. The largest model available, this unit has the updates: furnace, hot water heater, flooring, and a brand new kitchen, featuring quartz and quartzite countertops. Soaring, vaulted ceilings on the main floor add to the sense of space. Upstairs, two bedrooms and two full baths await you. There is also a loft overlooking the main floor that is perfect for a home office space. This unit also features direct access to a two car (tandem) garage. Located close to I-275, your new condo is literal minutes from most of SE Michigan. Living in Springwater park, you are an easy walk to banking, popular restaurants and shopping.

List Price:

$245,000

Details

Square Feet | 1,754
Bedrooms | 2
Baths | 2.1
Garage | 2 Car Attached, Tandem
Appliances | Refrigerator, Range/Oven, Microwave, Dishwasher, Disposal, Washer, Dryer

Contact Todd for More Information