Saline Real Estate market report for January 2012

Here’s the latest Saline real estate market report for January 2012.  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 January 2012 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!  There’s good news for sellers, mixed news for buyers.

The number of homes actively for sale fell again, to 172 now.  We were in the 220’s last summer.  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 7.8 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 both the number of homes available for sale (upper line), and the number of homes with pending sales (the lower line) going back to 1996.  The number of homes available has fallen nicely since 2006.  If you were to draw a “trend line” since 1996, you’d find that we’re right on trend with available homes.  This is a good thing.

Home sales are seasonal – higher in the spring and summer, lower in the fall and winter.  The lower line on the chart above shows that seasonality.  We’ve fallen off from our summer highs in pending sales since last summer, and we’ve probably hit our “winter low” in pending sales (having just come through the holiday season).  It’s likely that the pending sales in Saline homes will be rising as we head into spring.

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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!