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.

		JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV
Listings		174	115	148	161	177	148	169	172	162	161	145
Under Contract		7	5	8	14	12	16	18	9	8	4	8
Sales Past 12 Months		192	191	186	186	190	196	144	136	136	142	142
Absorption Rate		16.00	15.92	15.50	15.50	15.8	16.3	12.0	11.33	11.33	11.83	11.83
Months Supply		10.88	7.23	9.55	10.39	11.18	9.06	14.08	15.18	14.29	13.61	12.25

 

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.  

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

www.KathyToth.com Ann Arbor Market Center Keller Williams Realty

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