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

Saline Real Estate Market Update | April 2021

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

Saline Real Estate Market | April 2021

Todd Dives into the market stat numbers for Saline in April 2021

Transcription:

If you’re Looking for the Saline April 2021 Real Estate Market numbers, this video’s for you.

 Hey thanks for stopping by, my name is Todd and with Studio Four8 at Berkshire Hathaway HomeServices Snyder & Company realtors, and fresh off the multiple listing system are the April stats numbers for the city of Saline. Just to recap, these are single-family residences, houses, and condos that we are aggregating the information for. These are only properties that have sold in April of 2021. We are comparing, so when you hear the percent changes we are comparing to April of 2020. And just as a refresher, about a year ago we kind of shut everything down so we could figure out what to do with the pandemic, so some of these percent differences are going to seem incredible. And that’s because what we are dealing with now, we’re comparing exactly a year ago where we had very little in the way of business going out, we effectively shut down for a period of time. So some of these percent differences are going to seem incredible. 

Average Sales Price

So let’s get right into those numbers. So the average sales price for property in Saline was a whopping $552,484. That’s up almost 33%, 32.46% jump in price compared to April 2020. The median sales price also had a pretty significant jump, it jumped 25.71% to $475,000 as a median sales price in Saline, 475, that is tremendous without putting it too lightly I think. 

Days on Market

Days on market, days on market did fall precipitously. So the amount of time that it took for a property in Saline to go under contract fell 54.34% to 19 days. It was an average of 19 days to get a home in Saline under contract. Pretty impressive. That also speaks to the demand and the lack of supply that we have in the marketplace in Saline right now. 

Properties Sold At Or Above List Price

The number of properties sold jumped almost 6%, 5.88%, compared to again April of 2020. There were a total of 36 properties that sold in the month of April 2021. The final stat that I have recently added to this report is the percentage of properties that have sold at or above list price, meaning the seller accepted an offer that was at least list price, if not higher. The percentage of properties that sold in April 2021 that were at or above list price was 52.78%. That’s almost 53% of the properties sold in April 2021 sold at or above list price.

So all this to say, if you own a property in the city of Saline, and you are even thinking about selling your property, or maybe you want to get the value on your property, because you know what, property is appreciating. Maybe you want to pull some equity out? I would love to be your resource, to help guide you through what these numbers mean for your specific scenario as well as help you craft a plan. If you’re moving across town or moving across the country, I would love to be your resource when it comes to crafting how we bring our property to market and how do we go about finding that replacement property. This is Todd with Studio Four8 saying we’re here to recreate real estate. 

Saline Real Estate Market Sharable

Saline Real Estate Market stats
Saline Real Estate Market Snapshot Shareable

Lincoln School District Market Update | April 2021

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

Lincoln School District Real Estate Market | April 2021

Transcription:

Are you wanting to learn the latest numbers for homes in the Lincoln School District real estate market here in Ypsilanti Township, Michigan and areas around? This video’s for you.

Hey thanks for stopping by, my name is Todd. I am a partner at Studio Four8 at Berkshire Hathaway home services at Synder & Company realtors here in the Ann Arbor, Michigan area. I’ve got the Lincoln School District housing numbers fresh off the multiple listing system.

 I’m going to tell you right out of the gate Lincoln is hot right now. So if you’re a purchaser, sorry it’s really rough out there right now. If you are a seller, it’s really good to be a seller, if this is what works best for you at this time in your life. 

Average Sales Price

But let’s get right into those numbers, shall we? So the average sales price for a home in Lincoln School District, Michigan was up 21.65% .A quick refresher, we’re comparing these numbers for April of 21 to April of 2020. You might remember that a year ago we were trying to figure out what was going on with the Covid pandemic. So we kind of shut real estate down for a period of time. So a lot of the percent-changes I’m going to spout here are going to seem incredible, and they are incredible. But let’s put them in context. We’re comparing this to a period in time when there was very little in the way of business going on.  So some of these numbers in the way of comparison are going to seem extraordinary. 

The average sales prices jumped 21.65% to an average sales price of $294,402 for the average home here in the Lincoln School District. And when I say home I am speaking specifically of single-family residences, houses, as well as condos. Not that there are as many condos in Lincoln, but there are some around. Median sales price for a property in the Lincoln School District jumped 17.9% to $281,500. These are great numbers for folks that are wondering about the equity in their current home that they own. These are great signs for the strength of the market, as well as the health of the real estate market and the appreciation rates that are coming in for your property in Lincoln.

Days on Market

Days on Market. This number is incredible, I think. The days on market fell 13.65% compared to a year ago to 11 days. So if it’s in your wheelhouse to sell your home this year, sooner is probably better than later, because 11 days on market. . . there may be a little bit more of a downside there where it can get shorter but, 11 days on Market is almost nothing.  It’s extraordinary, actually. 

The number of properties sold in April of 21 did jump 41.67%. This is where the comparison to April of 20 kind of starts throwing things off. It jumped nearly 42%, but we sold 34 properties in Lincoln School District in the month of April 2021. So, great strong numbers there, I like seeing that.

Sold At or Above List Price

 This following number is the one that blows my socks off, quite frankly. This one is the percentage of properties in Lincoln that sold at or above list price. Meaning, the seller accepted an offer that was at least list price, if not higher. 73.53% of those properties that sold on April 21 sold at or above list price. That is extraordinary. This speaks to, in my opinion, the strong demand for the great, well-priced properties here and the Lincoln School District. If you’ve got almost three-quarters of the properties that are selling in the given month selling at or above list price we’ve got two things going on. Number one, we’ve got extremely strong demand and we have very little in the way of inventory. 

So, for those homeowners in the Lincoln School District Area, I’ve got two messages for you: Number one, if you want to know the value of your property because maybe you want to put a deck on the property, or you want some cash out because someone is going to college, or you want to pay down some some credit card bills, let me be your resource. I would love to chat with you about your property in today’s market and it’s value so that you can make the correct decision for this time in life. If you’re a homeowner in the Lincoln School District and you’re thinking about selling, I want to give you that value, but I also want to show you what we can do to make sure that you’re a part of that three-quarters of the folks that are getting at or above list price. This is Todd saying we’re here to recreate real estate. Thank you so much!

Lincoln School District Real Estate Market Sharable

Lincoln School District Market Snapshot
This month’s sharable graphic version of Lincoln School District’s Real Estate Market stats

Ann Arbor Real Estate Market Update | April 2021

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

Ann Arbor Real Estate Market | April 2021

Transcription:

If you are looking for the 2021 update of the Ann Arbor Marketplace this video is for you.

Hey thanks for stopping by, my name is Todd, I’m with Studio Four8 at Berkshire Hathaway HomeServices Snyder and Company Realtors and I got the numbers here for the Ann Arbor Marketplace. Specifically, the city of Ann Arbor, homes that have sold in the month of April 2021. This includes both houses and condos. So let’s get right into those numbers, shall we?

Average Sales Price

The average sales price for a home in April of 2021 was $479,627. That is up 32.48%. If this is the first video you have seen this year talking about real estate numbers, let’s just go back and cover what’s going to happen in the next few months with these percent differences. These percent differences are for the same month, but one year ago. If you remember, about a year ago, we kind of shut everything down while we tried to figure out what to do with his covid-19 pandemic. So a lot of these percent changes are going to be really incredible but that’s compared to very little in the way of inventory and business that happened last year. So while the average sales price is up almost 33% compared to April 2020, kind of not surprised by that. The median sales price is also up, it’s up 18% to $383,500. Again, these are houses and condos inside the city of Ann Arbor. 

Days on Market

Days on market did decrease, it went down to 23 days on Market as an average, that is a 18.63% change downward from where it was last year in April of 2020. The number of properties sold in April of 2021 was up almost 60%, 59.54% to 209 units sold in April 2021 in the city of Ann Arbor.

Sold At/Above List Price

 The last thing, the last little stat I’ve got here, is something relatively new for us at least, percentage of properties in April 2021 that sold at or above the list price. Meaning the sellers accepted an offer that was above what they were asking, or at least asking price. The percentage of Ann Arbor properties that sold at above list price was 44.02%, so 44% of those 209 properties that sold in April 2021 sold at or above list price. 

If you’re a seller or you own property in this Ann Arbor Real Estate Market and you’re thinking about selling in this Marketplace to take advantage of some really great numbers, let’s have a discussion about that. I would love to be your resource and provide that information on what it looks like to potentially bring your property to the market, as well as help you find a place to move to. If you’re moving across town or across the country I can help you out with that one. This is Todd with Studio Four8, we’re here to recreate real estate.

Ann Arbor Real Estate Market Sharable

Ann Arbor Real Estate Market Snapshot
This month’s sharable graphic version of Ann Arbor’s Real Estate Market stats