Every month Todd Waller dives deep into the previous month’s Saline Michigan real estate market stats and delivers exciting insights into the status of the Saline Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!
Saline Michigan Real Estate Market
The April 2022 Saline 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 April 2022 stats are compared to the previous year’s April 2021 statistics.
Average Sales Price
The average sales price for a single family property (house or condo) sold in Saline in the month of April 2022, was $556,328. Compared to April of 2021, this is up .7%. The median sales price also saw a jump in April. Median sales price rose 16.93% to $556,000, when comparing April 2021 to April 2022.
Days on Market
Properties sold in April of 2022 were on market for an average of 20 days. This is up .46% from April of 2021.
Properties Sold At or Above List Price
April of 2022 saw a 11.11% decrease in the number of properties sold, compared to April of 2021, with a total of 32 properties receiving new owners.
The percentage of properties each month that sell at or above list price is a metric to gauge the supply/demand inequity in the Saline market. In April of 2022, 87.5% of the properties sold at or above list price.
When half 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, Saline has seen a higher share of property selling at/above list for quite some time.
What to do With This Information?
If you own a place in Saline, or are thinking of purchasing in Saline, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Saline 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.
