Every month a member of Studio Four8 dives into the Dexter Real Estate Market 2023 numbers and breaks down what that means for your local housing market. Stay in the know by subscribing to Studio Four8’s Youtube page.
Hey this is Dan with studio 48 at Berkshire Hathaway HomeServices Snyder & Company realtors let’s get right into that Dexter housing data, shall we?
So February 2023 as compared to February of 2022, Dexter saw a 5.4% increase in average sales price to $572,000 from $542,000 last February. Curiously, the median sales price dropped also, -5.4%, $458,000 this February as compared to $485,000 last February. Now we need to take that data with a grain of salt because closed sales, which is what this data is based on, were down significantly. -68%, almost -69% from February of 2022 to February 2023. February 2022 there were 16 closed sales, February 2023, only 5.
Now there are still some good insights from that, days on Market up significantly as well, more than 100% increase from 44 days on Market in February of 2022 to 90 days on market for those closed sales of February of 2023. This means as those homes are sitting on the market for significantly longer on average they were also receiving less of the list price in that final sale. So February of 2022, we were looking at 105% of list price on average now we’re looking closer to 97.5% of list price for a decline of 7.4%. So although there are some big changes in there, with only 5 sales that needs to be taken with a grain of salt.
If you’re looking to buy or sell in Dexter right now, it could be an interesting market. We’d love to talk to you about how this data affects you and your plans and together we’d like to make this data work for you and find a strategy that takes advantage of this data to help you make your next move.
Once again this is Dan at studio 48 with Berkshire Hathaway HomeServices Snyder & Company realtors.