Tag: monthly market update

Every month a member of Studio Four8 dives into the Saline 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 Saline housing data, shall we?

 Saline in February of 2023 saw 3.4% decrease in average sales price as compared to February 2022. This year the median sales price however was up 12% to $515,000 this year compared to $460,000 last February. 

Now the days on Market are actually down quite a bit as well, coming down 23.8% to 48 days on Market from last February. 63 days on Market, closed sales as well, up a little bit. 27 closed sales in February of 2023 which is an 8% increase than that we saw in February of 2022.

Now the percentile list price received dropped as well, 2.2% down to 96.4% from last year’s 98.6%. What this means for you is that Saline is seeing a little bit more activity in higher price points right now. That’s going to be what’s driving that median sales price up while the average sales price itself is dropping a little bit.

Now the days on market coming down tells me that we might see a little bit more of an increase in that average sales price as demand is heating up. More homes are selling, they’re on the market for less time. It also tells me there’s some significant demand, but that buyer demand hasn’t yet translated into selling, on average, over list. In fact we’re down a little bit. So what this means for you is going to be situation dependent, whether you’re buying, selling, what your needs are, and what your timeline looks like, quite frankly.

So give us a call here, we would love to chat with you about your situation and take this from data on a page to something that we can apply into your home search or your home sale at Berkshire Hathaway HomeServices Snyder & Company realtors.

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.

Every month a member of Studio Four8 dives into the Lincoln Consolidated School District 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.

Are you looking for the February 2023 market update for Lincoln schools?

Hey this is Dan with studio 48 at Berkshire Hathaway HomeServices Snyder & Company realtors.

Let’s get right into that Lincoln housing data, shall we?

So in February of 2023 Lincoln saw at 7.7% reduction in average sales price as compared to last February in 2022. Last February we were looking at $358,000 on average that’s come down to $331,000. What moved more significantly was the median sales price coming down 17% from $380,000 in February of 22 to $315,500 in February of 23.

 Now curiously, the percent of list price received actually went up this year, almost 1%, to 103%, whereas last February we were looking at 99.4%. This is telling us that although prices are down, means that that list price was down as well, on average selling above it. 

Curiously, the days on market have gone up as well, which might be contributing to that decrease in sales price. Days on Market February of 2023, looking at an average of 32 days that’s up more than 113% from 15 days on Market February of 2022.

Now the good news is that closed sales during the same period actually increased. February of 2022 we were looking at 16 closed sales in Lincoln, February of 23 we’re looking at 18 closed sales for a 12.5% increase. 

So that data in Lincoln’s telling me that maybe we’re seeing some more action in the lower price points bringing that median sales price down, days on market looks like it could be bringing the sales price down, but with those lower sales prices, the buyer demand is pushing the price back up over list on average. 

Now what does this mean for you? Well every situation is unique, so we would love to talk with you in detail about your situation and how we can make this data work for you to achieve your goals. At the end of the day you need to take this data that’s on a page and apply it with a plan to your situation.

Give us a call here my name is Dan at Studio Four8 at Berkshire Hathaway HomeServices Snyder & Company realtors.

Every month a member of Studio Four8 dives into the Ann Arbor Real Estate Market Stats 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.

If you are looking for the February 2023 market stats update for Ann Arbor, this is the video for you. 

Hey this is Dan Kurylo at Studio Four8 at Berkshire Hathaway HomeServices Snyder and Company realtors in Ann Arbor, let’s get right into that housing data shall we?

So February of 2023 as compared to February of 2022 saw a half percent increase in average sales price to $589,000 from $586,000. Median sales price jumped a little bit more to $500,000, up 1.5% from $498,000 last February. Where we saw some more changes were the days on Market Days on Market. Days on market is up almost 25%, 40 days, as compared to last February’s 32. That translated, as those homes sit longer on the market, to less of the asking price received. That was down 4.7% February of 2023 as compared to February of 2022, 98.2% of asking price received compared to last year. We were looking at 103%. 

So what that means for you, although homes are sitting on the market a little bit longer,  Although list prices are up a little bit more, but there’s one more piece to that puzzle and that is the inventory out there. Last year, February of 2022 there were 69 homes that closed in Ann Arbor, this year, only 42 which means a 39% decrease.

 So what this means for you as a buyer is: sure prices are stable, and you might have a little bit more time, and you might get it a little bit under list but you just have fewer options out there. 

What does this mean for you as a seller? Prices are stable as long as you are pricing correctly, looks like that’s going to work out well for you. And there’s less competition than there was a similar price point last year.

So I think there’s There was for the same as or similar pricing last year so I think there’s some good takeaways for everybody and it’s going to depend on your situation what that means for you.

So reach out to us if you find yourself trying to buy yourself a home here in Ann Arbor. We’d love to talk about this data in your context and how it applies to your situation, because ultimately the data needs interpretation, and then we need to create a plan to make that data work for you.

Once again, this is Dan at Studio Four8 at Berkshire Hathaway HomeServices Snyder and Company realtors.

Every month a member of Studio Four8 dives into the Ypsilanti 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 we are going to bring you the latest market numbers for the city of Ypsilanti, Ypsilanti school district, for last January as opposed to January 2022. I’m Sara Maddock with Studio Four8 with Berkshire Hathaway Home Services, Snyder and Company and we wanted to just rattle off some numbers for you so you can stay abreast of market changes. 

The average sale price and the median sale price in the city of Ypsilanti actually went up last month versus the January 2022. Average price being $235,113 that’s it almost 18% jump. The median sale price in turn $212,500, actually that stayed about the same at 1.2% up over last year. Now we’re talking about only 32 houses sold in this past January, which is 13% down from last year. So it’s a small sample but still showing good movement in the market, the upward pricing.

 The average days on Market were 23, which is again pretty similar to last year just up about 2 percentage points there. So if you list your home in the city of Ypsilanti you can expect to get offers within the first two or three weeks there, which is still pretty good.

Now the number of homes that sold over list price last month was 16, which is down a little bit from last year. About half of the homes that were listed this past month were in multiple bid situations and were able to get a higher than list price. Which is still a good indicator. 

So regarding the city of Ypsilanti if you’re looking to purchase there you may have to be aggressive with your price depending on what the home is, what the situation is, and you can expect there to be around 30 houses for sale. Now if you are interested in being one of those homes for sale and you have a house that you’d like to list the Studio would love to come out and talk to you about your plans for this year and where you might fit into this micro market picture.

 Again this is Sara Maddock with Studio Four8 and we look forward to hearing from you!

Every month a member of Studio Four8 dives into the Lincoln Consolidated School District 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.

If you are interested in knowing what the latest real estate market statistics are for the Lincoln Consolidated School District I’m here to share those with you now. This is Sara Maddock with Berkshire Hathaway Home Services Snyder & Company and Studio Four8 and we wanted to just give you the latest on where our sale prices in the Lincoln Consolidated School District, mainly that’s at Ypsilanti township but we’re also including those other areas, anything that would be in that school district.

 So we’re still seeing good sale activity in the area in January, this last month we had 24 homes sold which if you can believe it or not is actually double the number of homes that were sold in January of 2022. Still not a lot out there for sale but double what we sold last year. Which we hope means there are going to be more houses on the market to choose from if you’re a buyer in the area.

 Prices! The average sale price in Lincoln did go up and we’re at $297,092. We are just pushing at the door of a $300,000 average sale price in Lincoln. That is up 5% over last year, so showing a steady increase. Interestingly, the median sale price in the area was dropping a little bit, just about 6% year over year to $279,375. So take that for what it is we have a higher average sale price, a lower median sale price and that could just have to do with the sample (those 24 houses that sold last month).

Now the average days on Market actually went up quite a bit, almost 41% year over year to 29 days. So if you list your home in Lincoln it may take about a month to get a bottom line sales contract. That’s different from last year. Again it makes sense we had fewer homes for sale, a lot of people who wanted to live in the area, and the average days was therefore less than it is when we had double the number of homes for sale last month. Okay? 

Now good news (good news for sellers that is), homes for sale in this past month of January more than half, 58% actually, had multiple bids (we assume) and got a price that was higher than what the home was listed for. So it’s still a good seller’s market over there.

 This is Sara Maddock with Studio Four8 and we would love to share more details for you in the Lincoln Consolidated School area. If you are interested in selling your home there, we know each of those neighborhoods intimately. We’d love to talk to you about your specific market segment, your specific price point, and if you’re a buyer: the same. We have a lot of experience there, we have listings coming out next month in the area that we’d love to show you. 

Thank you for watching!

Every month a member of Studio Four8 dives into the Ann Arbor 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.

Hi thanks for tuning in, I’m here to share with you the latest real estate numbers for the month of January 2023 in Ann Arbor Public Schools. I’m Sara Maddock with the Berkshire Hathaway Home Services Snyder & Company realtors, Studio Four8 and we wanted to share with you the latest sales activity in the Ann Arbor real estate market. The sales prices, average sales price, median sales price, and also comparing that to what happened last year at this time, so that you can get a sense of what’s going on.

So when we say Ann Arbor School District I’m talking about the whole school district whether the address says “Ann Arbor” or if it’s in Pittsfield Township perhaps, either way if you’re if your school district is Ann Arbor this includes your market. Now the average sale price of a home in the Ann Arbor District is now at $397,334, just under that $400,000 mark which is actually down 1% or so from last year. It hasn’t changed much, that average. But the median sale price went up over 6%, 6.61% in fact, to $355,000 on the dot. What does that mean exactly? Average price is basically the same but the median home price went up that means we are still seeing that shift in sale price in the Ann Arbor District, basically up, from January of 2022 to January 2023.

Another interesting point, we sold 61 homes in Ann Arbor last month that’s down 35% from last year, so even fewer homes to choose from in Ann Arbor. Which could explain the lower average days on Market which was 36 Days, down about 14% from last year.

This is interesting too, the number of homes that had sale prices that were higher than their list price, so we’re assuming a multiple bid situation, is actually only about 40 (40.98) so 41% of the homes that were listed in January. So more homes than not sold for at, or even possibly below, their list price. So that’s showing some leveling out but we’ll see what happens in the coming months.

We’d love for you to stay tuned for that, we bring you these numbers every month, so again you can get a sense of what the shifts in the marketplace are. This has been your Ann Arbor market update with Sara Maddock and Berkshire Hathaway Home Services Snyder and Company, Studio Four8. Stay tuned for more!