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.

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