Every month Todd Waller dives deep into the previous month’s Dexter, Michigan real estate market stats and delivers exciting insights into the status of the Dexter real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!
Dexter’s Real Estate Market
The 2022 Dexter 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 February 2022 stats are compared to the previous year’s February 2021 statistics.
Average Sales Price
The average sales price for a single family property (house or condo) sold in Dexter in the month of February 2022, was $509,175. Compared to February of 2021, this is up 5.19%. The median sales price also saw a jump in February. Median sales price rose 8.33% to $455,000, when comparing February 2021 to February 2022.
Days on Market
Properties sold in February of 2022 were on market for an average of 40 days. This is down 49.33% from February 2021.
Properties Sold At or Above List Price
February of 2022 saw 19 homes receiving new owners, which is the exact same as February of 2021.
The percentage of properties each month that sell at or above list price is a metric to gauge the supply/demand inequity in the Dexter market. In February of 2022, 94.74% 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.
What to do With This Information?
If you own a place in Dexter, or are thinking of purchasing in Dexter, 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.