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 real estate market in Dexter is under going some changes. In this shifting market, some of the real estate statistic are starting reflect these changes.
Average Sales Price
The average sales price for a single family property (house or condo) sold in Dexter in the month of July 2022, was $477,769. Compared to July of 2021, this is up 10.55%. The median sales price also saw a jump in July . Median sales price rose 1.81% to $422,500, when comparing July 2021 to July 2022.
Days on Market
Properties sold in July of 2022 were on market for an average of 15 days. This is down 35.65% from July 2021. This speaks to a low inventory is still having an influence despite the shifting market.
Properties Sold At or Above List Price
July of 2022 saw 38 homes receiving new owners, which has fallen 15.56% as July of 2021. This is where we are seeing the numbers reflecting the shift in the market, with the decrease in the demand.
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 July of 2022, 78.95% of the properties sold at or above list price. This is down 6.3%.
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 shifting market, regardless of the conditions.