Here’s the latest Saline real estate market report for December 2011. This is an update to my monthly sales report from the beginning of the month. (Original article written by Vance Shutes). Let’s take a look at how the market for Saline homes looks right now:
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 December 2011 are shown in the table below:
The market for Saline homes continues to improve as we head into winter. We’re in great shape, and getting well set-up for next spring!
The number of homes actively for sale fell again, to 186 now. When you’re buying a home, having plenty to choose from is a good thing, so this isn’t necessarily the best news for Saline home buyers. When you’re selling a home, less competition is good, so fewer homes on the market is good for sellers. The supply of homes is still at 7.4 months, which is plenty based on the lower demand during the winter.
The next chart will help to understand the improvement in our outlook for Saline homes going into the spring market next year.
This chart shows the overall percent pending for Saline homes. At the present time, we’re at 18% pending. Here’s an easy way to understand that number: If 100 homes come on the market in December, we would expect that 18 would have an accepted offer during the month.
In my opinion, the trend of the overall percent pending in our market is significantly improving, going back to 2008. Since then, our seasonal summer highs have been higher, and our winter lows have been higher. Overall, the trend in percent pending is improving. In other words, more and more homes are selling as they come on to the market. This is a VERY healthy trend, and certainly bodes well for next year!
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If you have questions about your specific situation, or if you’re considering buying or selling any 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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See you tomorrow!
