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
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!