Chelsea, Michigan Real Estate Statistics show 15 months supply

Click on picture for Chelsea, Michigan Tour.

As of February 281, there were 133 active Chelsea homes for sale: ranging from 1 bedroom to 6, 1 bath to 4 and prices from $68,000 to $950,000. The average asking list price per square feet was up to $133.44 and average asking price is $268,422. If you want Chelsea properties or Ann Arbor properties click either.

There have been 147 homes sold in Chelsea in the last 12 months ranging in bedrooms from 1 to 6 and baths from 1 to 6. The largest home sold is 4,725 square feet down to the smallest at 600 square feet.

The average list price of the homes that sold in the last 12 months $181,783 and the average sold price was $173,950. This represents an average sold price per square feet of $95.22. The sellers got an average of 96% of asking price these last 12 months.  The Chelsea Real Estate Market average sold price per square foot is graphed below courtesy of Affinity Valuations Group, LLC.  The average sale price per square foot has trended up but remains under $100.00 per square foot.

The chart below shows there is about 12 month supply of homes for sale in Chelsea, Michigan, so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market. The inventory under $200,000 is shrinking and we are seeing multiple offers. There is still an abundance of choice, low interest rates and great prices. There are 11.6 months of supply.

Other charts below show the trends over the last 12 months. The first chart – Chelsea: Median Price (FS, Sold) shows home asking prices are down 11% and sold prices are up 11% comparing February 09 to February 10 with trend lines showing slight increasing sold prices over the last 12 months.

Chart 2 Chelsea: Supply & Demand – # Units (FS, Sold) below shows units for sale from February 09 to February 10 are up 1% and sold units down 43%. At least the number of active homes for sale was trending down slightly indicating we are on the way to stabilizing.  To be one of the homes picked, keep in mind this is a price war and a beauty contest.  Consult with your agent about making your home stand out. Ask about staging your Chelsea home.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the home buyer tax credit, updates are posted. Let us know if you are coming to our next home buyer round table/seminar this month: 734-845-6542. If you want to glimpse our Ann Arbor Area videos, click here. If you want a bank owned home, call us. Banks hire us to sell these homes and we know about these Ann Arbor Area foreclosures long before they are ready to come on the market.

Want to know what your Ann Arbor Area home is worth?

Ann Arbor Area Real Estate Update for Chelsea, Michigan

Chelsea, Michigan Real Estate Statistics

Click on picture for Chelsea, Michigan Tour.

As of January 31, there were 146 active Chelsea homes for sale: ranging from 1 bedroom to 6, 1 bath to 7 and prices from $45,000 to $950,000. The average asking list price per square feet was up to $124.94 and average asking price is $248,180. If you want Chelsea properties or Ann Arbor properties click either.

There have been 105 homes sold in Chelsea in the last 12 months ranging in bedrooms from 1 to 6 and baths from 1 to 6 bedrooms. The largest home sold is 4,725 square feet down to the smallest at 600 square feet.

The average list price of the homes that sold in the last 12 months $183,762 and the average sold price was $176,376. This represents an average sold price per square feet of $99.68 last month. The sellers got an average of 97% of asking price these last 12 months.  The Chelsea Real Estate Market average sold price per square foot is graphed below courtesy of Affinity Valuations Group, LLC.  The average sale price per square foot has trended up but remains under $100.00 per square foot.

The chart below shows there is about 12 month supply of homes for sale in Chelsea, Michigan, so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market. The inventory under $200,000 is shrinking and we are seeing multiple offers. There is still an abundance of choice, low interest rates and great prices. There are 11.6 months of supply.

Other charts below show the trends over the last 12 months. The first chart – Chelsea: Median Price (FS, Sold) shows home asking prices are down 16% and sold prices are up 92% comparing January 09 to January 10 with trend lines showing slight increasing sold prices over the last 12 months.

Chart 2 Chelsea: Supply & Demand – # Units (FS, Sold) below shows units for sale from January 09 to January 10 are down 4% and sold units up 11%. At least the number of active homes for sale was down slightly indicating we are on the way to stabilizing.  To be one of the homes picked, keep in mind this is a price war and a beauty contest. Consult with your agent about making your home stand out. Ask about staging your Chelsea home.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the home buyer tax credit, updates are posted. Let us know if you are coming to our next home buyer round table/seminar this month: 734-845-6542. If you want to glimpse our Ann Arbor Area videos, click here. If you want a bank owned home, call us. Banks hire us to sell these homes and we know about these Ann Arbor Area foreclosures long before they are ready to come on the market.

Want to know what your Ann Arbor Area home is worth?

Ann Arbor Area Real Estate Update for Chelsea, Michigan

Chelsea, Michigan Real Estate Statistics

Before jumping into market data, click on picture for Chelsea, Michigan Tour.

As of December31, there were 119 (vs. 153 last month) active Chelsea homes for sale: ranging from 1 bedroom to 6,  1 bath to 7 and prices from $45,000 to $950,000.  The average asking list price per square feet was up to $133.97 from $126.88.  If you are looking for Chelsea Real Estate,  Ann Arbor Real Estate,  Chelsea Properties, Ann Arbor Properties,  Chlesea Homes, Ann Arbor Homes,  Chelsea Houses, Ann Arbor Houses, Chelsea Housing, Ann Arbor Housing,  or Chelsea New Homes, Ann Arbor New Homes.

There have been 142 homes sold in Chelsea in the last 12 months ranging in bedrooms from 1 to 6 and baths from 1 to 6 bedrooms.  The largest home sold is 4,725 square feet down to the smallest at 600 square feet.

The average list price of the homes that sold in the last 12 months $182,702 down from $188,247 and the average sold price was $174,204 down from $173,344.  This represents an average sold price per square feet of $95.60 dwon from $95.79 last month.  The sellers got an average of 96% of asking price these last 12 months.  The Chelsea Real Estate Market average sold price per square foot is graphed below courtesy of Affinity Valuations Group, LLC.  The average sale price per square foot has trended up slighlty but remains under $100.00 per square foot.

The chart below shows there is about 12  month supply of  homes for sale in Chelsea, Michigan,  so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market.  The inventory under $200,000 is shrinking and we are seeing multiple offers.  There is still an abundance of choice, low interest rates and great prices.

Other charts below show the trends over the last 12 months. The first chart – Chelsea: Median Price (FS, Sold) shows home asking prices are down 15% and sold prices are down by 5% comparing December 08 to December 09 with trend lines showing slight increasing sold prices over the last 12 months.

Chart 2 Chelsea: Supply & Demand – # Units (FS, Sold) below shows units for sale from December 08 to December 09 are up 3% and sold units down 11%.  At least the number of active homes for sale is up slightly indicating we are on the way to stabilizing.   To be one of the homes picked, keep in mind this is a price war and a beauty contest.  Consult with your agent about making your home stand out.   Ask about staging.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the home buyer tax credit, updates are posted.  Let us know if you are coming to our next home buyer round table/seminar this month in January: 734-845-6542. If you want to glimpse our Ann Arbor Area videos, click here.  If you want a bank owned home, call us.  Banks hire us to sell these homes and we know about these Ann Arbor Area foreclosures long before they are ready to come on the market.

Want to know what your Ann Arbor Area home is worth?

Before jumping into market data, click on picture for Chelsea, Michigan Tour.

As of November 30th, there were 153 (vs. 1

67 last month) active Chelsea homes  for sale: ranging from 1 bedroom to 6,  1 bath to 7 and prices from $45,000 to $950,000.  The average asking list price per square feet was  $126.88.  If you are looking for Chelsea Real Estate,  Ann Arbor Real Estate,  Chelsea Properties, Ann Arbor Properties,  Chlesea Homes, Ann Arbor Homes,  Chelsea Houses, Ann Arbor Houses, Chelsea Housing, Ann Arbor Housing,  or Chelsea New Homes, Ann Arbor New Homes.

There have been 142 homes sold in Chelsea in the last 12 months ranging in bedrooms from 1 to 6 and baths from 1 to 6.  The largest home sold is 4,725 square feet down to the smallest at 600 square feet.

The average list price of the homes that sold in the last 12 months $182,702 down from $188,247 and the average sold price was $173,344 down from $178,561.  This represents an average sold price per square feet of $95.79 down from $96.17 last month.  The sellers got an average of 95% of asking price this last 12 months.  The Chelsea Real Estate Market average sold price per square foot is graphed below courtesy of Affinity Valuations Group, LLC. 

The chart below shows there is about 12  month supply of  homes for sale in Chelsea, Michigan,  so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market.  The inventory under $200,000 is shrinking and we are seeing multiple offers.  There is still an abundance of choice, low interest rates and great prices.

Other charts below show the trends over the last 12 months. The first chart – Chelsea: Median Price (FS, Sold) shows home asking prices are down 10% and sold prices are down by 10% comparing November 08 to November 09 with trend lines showing slight increasing sold prices over the last 12 months.

Chart 2 Chelsea: Supply & Demand – # Units (FS, Sold) below shows units for sale from Novmeber ‘08 to November ‘09 are down 9% and sold units up 43%.  At least the number of active homes for sale is being reduced somewhat indicating we are on the way to stabilizing.   To be one of the homes picked, keep in mind this is a price war and a beauty contest.  Consult with your agent about making your home stand out.   Ask about staging.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the home buyer tax credit, updates are posted.  Let us know if you are coming to our next home buyer round table/seminar this month in January: 734-845-6542. If you want to glimpse our Ann Arbor Area videos, click here.  

Want to know what your Ann Arbor Area home is worth?

Before jumping into market data, click on picture for Chelsea Tour.

As of August 31st, there were 172 active homes (down from 176) for sale ranging from 6 bedrooms to 1, 7 baths to 1 and prices from $995,000 to $29,900. The average asking list price per square feet was $137.41.
There have been 84 homes sold in Chelsea this year ranging in bedrooms from 5 to 2 and baths from 4 to 1. The largest home sold is 3800 square feet down to the smallest at 850 square feet. The average list price of the homes that sold was $190,158 and the average sold price was $179,085. This represents an average sold price per square feet of $93.43 and an average list price per square feet of $99.59. The sellers got an average of 94% of asking price. The Chelsea Real Estate Market from August 06 to July 09 is graphed below with the wide sold price swings displayed. As far as August sales data goes, average sold prices were $146,180 with SP/SqFt of $80.33 compared to the average sold price in July of $230,840 and SP/SqFt $113.43.

The chart below shows there is 12 months of Supply of Homes for sale in Chelsea, Michigan, so we are still in a buyers market and may be stabilizing unless we see a rash of foreclosure homes hit the market. There is still an abundance of choice, low interest rates and great prices.

Other charts below show the trends over the last 12 months.
The first chart – Chelsea: Median Price (FS, Sold) shows home prices listed are down 5% and sold prices are down by 16% comparing to August 08 to August 09 with trend lines showing slight increasing price directions over the last year.

Chart 2 Chelsea: Supply & Demand – # Units (FS, UC, Sold) below shows units for sale from August 08 to August 09 are down 24% and sold untis down 67%. At least the number of active homes for sale is being reduced somewhat indicating we are on the way to stabilizing.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the first time home buyer tax credit, time is running out to ensure closing by November 30th, 2009.

Want to know what your Ann Arbor home is worth?

The Chelsea Real Estate Market Average Sales Price is Up in July

Before jumping into market data, click on picture for  Chelsea Tour.

Average Sales Price for July is up in Chelsea. The number of new listings was up and the number of homes sold was down. The number of active listings was down slightly. As of July 31st, there were176 active homes for sale ranging from 6 bedrooms to 1, 7 baths to 1 and prices from $995,000 to $29,900. The average asking list price per square feet was $137.44.
There have been 79 homes sold in Chelsea this year ranging in bedrooms from 5 to 2 and baths from 4 to 1. The largest home sold is 3800 square feet down to the smallest at 850 square feet. The average list price was $192,461 of those homes that sold and the average sold price was $181,168. This represents and average sold price per square feet of $94.26 and list price per square feet of $100.53. The sellers got an average of 94 percent of asking price. Chelsea Real Estate Market from August 06 to July 09 is graphed below with wide sold prices displayed.

The chart below shows there is 12 months of Supply of Homes for sale in Chelsea, Michigan, down from 14 months last month, but about the same as January, so we are close to stable unless we see a rash of foreclosure homes hit the market. There is still an abundance of choice, low interest rates and great prices.
2009
JAN    FEB    MAR   APRIL   MAY   JUNE    JULY
Listings                         174    115    148     161    177      148     169
Under Contract                 7        5       8       14       12        16       18
Sales Past 12 Months    171    123   110       99     190     123     166
Absorption Rate/12Mo 14.25 10.25 9.17  8.25   15.8     10.3    13.8
Months Supply              12.21 11.22 16.15 19.52 11.18 14.44  12.22

Other charts below show July 08 compared to July 09 with trend lines.
Chart 1 shows for sale units in July 09 are down by 20 percent and Sold units are down by 50 percent. The trend line indicates an inventory decline which is typical for the end of the season.

Chart 2 below shows home asking prices are down in July 09 vs. July 08 by 2 percent and sold prices are down 17 percent. The trend line indicates sold prices are declining and asking prices are somewhat inclining.

There is still an abundance of choice, low interest rates and great prices. If you know any one who is a first time home buyer looking to use the first time home buyer tax credit, time is running out to ensure closing by November 30th, 2009.

What is happening with the absorption rates for the Chelsea Real Estate market? Homes in Chelsea have gone from about 12 months of supply in January to 14 months in June. If no other Chelsea residential homes were put on the market, it would take 14 months to sell these homes.

Chelsea Real Estate Market Data from 2006 to 2009 is graphed below: 

Note the downward trend of Average Sale and Asking Prices in yellow and green respectively. See how the units sold have remained flat. The number of new listings have declined slightly.

Click here to find out more about Chelsea and to search for homes in Chelsea. We are selling homes here and in fact listed a home in Chelsea Ridge and got multiple offers.  I have posted sold Chelsea, Michigan homes.

Everyone wants to know what is selling in Chelsea. So here are all the homes that have sold in 2009. Note that the list price to sale price ratios are about 94 percent for the year. This means that if a house is listed for $100,000, that the seller should expect an agreeable offer of $94,000. We just closed on a sweet house in Chelsea as a cash deal. And I want to mention a “cutie pa tututie” on 402 Washington.

I will be attending the Howard Brionton real estate seminars this week in Denver to sharpen the sword and will be re charged to provide top notch service to all our Chelsea and Ann Arbor Area real estate clients.

The Chelsea real estate market is a sub set of the Ann Arbor Area Board of Realtors® in Washtenaw County. Below are some graphs showing trends in the last 12 months and comparing June 08 to June 09 data.  All Chelsea homes sold year to date will be posted next.

The first chart shows the trend line trend line indicates months supply is going down over the last year but months supply compared to June 08 is up 77 percent. That means if no more homes come on the market it would take 16 months for them to sell.

The next chart shows Chelsea for sale homes are down in June 09 by 11% but sold homes are down 40 %. Inventory has trended down, a good step to market stabilization.

The next chart shows median prices. Here we look at the prices of the Chelsea homes listed (for sale) compared to sold homes. Again in thousands of dollars, there is a slight incline trend line for (asking) listing prices over the last year and sold prices have declined. Home sold prices from June 08 vs. June 09 were down 21.8 percent.

We are bombarded with high unemployment data and continue to battle underwriters and appraisers to keep deals together even after we bring ready willing able buyers and sellers together. We were fortunate to close a cash buyer deal on Cottonwood in Chelsea last week.  Now more than ever REALTOR® experience plays a major part in gluing deals through closing.

Ok, I am late in posting the market data for Chelsea. So here is what was happening in the Chelsea Real Estate market. The first chart shows months supply of inventory down from May 08 to May 09 with a trend line going down and ranging from from 21 months to 8.1 months supply.

The second chart shows inventory rising from January. The number of new listings from May 08 to May 09 is reduced by 22 percent which is great news toward stabilization. The sold units were down by 15 percent too.

The last chart indicates that summer prices rise (they always do) and in fact the sold prices were up 45 percent May 08 vs. May 09.

The prettiest girls on the dance floor are getting picked. The foreclosures continue to come on the market. The banks still have little sense of urgency from the bank asset managers. Having buyers for these properties is still very frustrating. Bank non responsiveness is actually oppressive to the market.

The Ann Arbor Board of REALTORS® June statistics will be reported this week.