Ypsilanti’s Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ypsilanti, Michigan real estate market stats and delivers exciting insights into the status of the Ypsilanti real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ypsilanti’s Real Estate Market

The 2021 Ypsilanti real estate market continues to be a strong seller’s market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ypsilanti in the month of June 2021, was $241,174. Compared to June of 2020, this is up 17.60%. The median sales price also saw a pretty significant jump in June. Median sales price rose 11.14% to $225,000, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 12 days. This is down nearly 71.92% from June 2020.

Near single digit days on market, dear reader, means that there is precious little in the way of inventory for buyers to consider. Of course, how many homes sold at or above list price is also an indicator…

Properties Sold At or Above List Price

June of 2021 saw a 48.08% increase in the number of properties sold, compared to June of 2020, with a total of 77 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Ypsilanti market. In June of 2021, 85.71% of the properties sold at or above list price.

When 85% 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. This is the highest percentage among the Washtenaw county municipalities that we track.

What to do With This Information?

If you own a place in Ypsilanti, or are thinking of purchasing in Ypsilanti, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor 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.

Ypsilanti Real Estate Market Snapshot Shareable Graphic

Saline Michigan Real Estate Market Update | June 2021

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 2021 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 June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Saline in the month of June 2021, was $476,232. Compared to June of 2020, this is up 15.30%. The median sales price also saw a pretty significant jump in June. Median sales price rose 22.24% to $473,390, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 89 days. This is up over 54% from June 2020. On the surface, this looks like the Saline market is overloaded with inventory. The reality is that there were three new construction listings that finally closed. They had been listed since 2016. Those three sales with 4 years of days on market were enough to push the average days on market up to nearly three months.

Properties Sold At or Above List Price

June of 2021 saw a 62.50% increase in the number of properties sold, compared to June of 2020, with a total of 65 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Saline market. In June of 2021, 81.54% of the properties sold at or above list price.

When over 80% 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. For example, June of 2014 saw 70.37% of the 54 properties sell 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. 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.

Saline Michigan’s Real Estate Market Snapshot Shareable Graphic

Lincoln School District Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ypsilanti Township, Michigan real estate market stats and delivers exciting insights into the status of the Lincoln School district’s real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Lincoln School District Real Estate Market

The 2021 the Lincoln school district’s 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 June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in the Lincoln School district in the month of June 2021, was $302,334. Compared to June of 2020, this is up 15.25%. The median sales price also saw a pretty significant jump in June. Median sales price rose 11.96% to $287,450, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 7 days. This is down over 79% from June 2020.

Single digit days on market, dear reader, means that there is precious little in the way of inventory for buyers to consider. Of course, how many homes sold at or above list price is also an indicator…

Properties Sold At or Above List Price

June of 2021 saw a 10.53% increase in the number of properties sold, compared to June of 2020, with a total of 42 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Lincoln School district’s market. In June of 2021, 90.48% of the properties sold at or above list price.

When over 90% 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. This is the highest percentage among the Washtenaw county municipalities that we track.

What to do With This Information?

If you own a place in the Lincoln School district, or are thinking of purchasing in the Lincoln school district, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor 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.

lincoln real estate market
Lincoln Schools District Real Estate Market Stats Snapshot Shareable Graphic

Ann Arbor Michigan Real Estate Market Update | June 2021

Every month Todd Waller dives deep into the previous month’s Ann Arbor Michigan real estate market stats and delivers exciting insights into the status of the Ann Arbor Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ann Arbor Michigan Real Estate Market

The 2021 Ann Arbor 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 June 2021 stats are compared to the previous year’s June 2020 statistics, which means for the year over year comparisons, numbers of transactions, and days on market can be skewed because there was a hot moment where real estate was effectively brought to a standstill. (Thanks, Covid-19.)

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ann Arbor in the month of June 2021, was $486,439. Compared to June of 2020, this is up 28.26%. The media sales price also saw a pretty significant jump in June. Median sales price rose 26.46% to $411,000, when comparing June 2020 to June 2021.

Days on Market

Properties sold in June of 2021 were on market for an average of 25 days. This is down nearly 42% from June 2020. The continuing decline in the number of days on market speaks to a few things. First is housing supply; we simply do not have enough inventory coming to the market to match the demand for Ann Arbor homes. Second is the potentially prolonged times that homes that closed in June of 2020 endured because of the shut down we experienced.

Properties Sold At or Above List Price

June of 2021 saw a 10.05% increase in the number of properties sold, compared to June of 2020, with a total of 241 properties receiving new owners.

A newly tracked statistic for the Studio is the percentage of properties each month that sell at or above list price. This metric is another way to gauge the supply/demand inequity in the Ann Arbor market. In June of 2021, 72.61% of the properties sold at or above list price; nearly three quarters of the 241 properties that sold.

When nearly three quarters 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, Ann Arbor has seen a higher share of property selling at/above list for quite some time. For example, June of 2014 saw 55.07% of the 227 properties sell for at or above list price.

What to do With This Information?

If you own a place in Ann Arbor, or are thinking of purchasing in Ann Arbor, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Ann Arbor 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. Given that this is Ann Arbor, though, demand will always run higher than other communities around South East Michigan. 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.

Ann Arbor Michigan Real Estate Market
Ann Arbor Michigan Real Estate Market Snapshot Shareable Graphic