Saline Real Estate and Homes for Sale

Here's the latest Saline market report for November 2009.  This is an update to my monthly sales report from the beginning of the month.   (Original article written by Vance Shutes).

In general, the Saline real estate market continues to improve, in spite of seasonal changes.

Each month, I review all of the homes for sale (column 2, "available") in the Saline school district within defined price ranges (column 1), and those homes where the sellers have accepted a purchase offer from a buyer (columns 3 & 4 - Percent Pending).  I also review all of the sales in past 30 days in each price range (column 6).  The results for November 2009 are shown in the table below:

What I notice most about the November figures is that the number of homes available for sale is down more than 11% since the peak this past summer (from 275 in July to 243 in November).  This is somewhat seasonal, as the "summer sellers" give up the effort for this year, but it also tells me that our marketplace is able to absorb more homes for sale each month.  How's this, you ask?  Well, the number of homes sold in the past month (45) fell from the previous month (54), yet our overall number of homes for sale fell as well.  These are encouraging signs!

Now, let's take a look at the entire year for the Saline real estate market:

This chart shows three lines of numbers:

Top line:  The number of homes available for sale each month.

Middle line:  The number of homes sold each month.

Bottom line:  The overall percent pending for the Saline real estate market.

I wanted to show you this summary chart, so you can see the improvement in the overall numbers of homes available for sale this year.  We saw our seasonal climb in the number of homes available for sale, from January through June, then we saw the seasonal reduction in homes for sale.  At the same time, we saw a nice increase in the number of homes sold each month from January through July, then a seasonal reduction in homes sold.

My crystal ball is a bit fuzzy, so I'll hold off any bold predictions for 2010 - other than to say that you can count on a monthly review of the Saline real estate market right here!

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If you have questions about your specific situation, or if you're considering buying or selling your Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I'd be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".

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