Chelsea Real Estate Has One Year Supply Of Homes for Sale

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?