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 August 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 August 2022 stats are compared to the previous year’s August 2021 statistics.
Average Sales Price
The average sales price for a single family property (house or condo) sold in Saline in the month of August 2022, was $488,355. Compared to August of 2021, this is up 16.58%. The median sales price also saw a jump in August. Median sales price rose 37.76% to $510,000, when comparing August 2021 to August 2022.
Days on Market
Properties sold in August of 2022 were on market for an average of 18 days. This is down 66.85% from August of 2021. Todd credits new construction properties being closed last year versus this year for this significant fall off.
Properties Sold At or Above List Price
August of 2022 saw a 40.68% decrease in the number of properties sold, compared to August of 2021, with a total of 35 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 August of 2022, 57.14% of the properties sold at or above list price
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. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.