Saline Real Estate Market Report for May 2012

Here’s the latest Saline real estate market report for May 2012. This is an update to my monthly sales report from the beginning of the month. (Original article 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 May 2012 are shown in an attached photo.

The market for Saline homes continues to be especially strong in this late-Spring market!  Once again, there’s good news for sellers, mixed news for buyers.

The number of homes actively for sale rose again, slightly, from 181 in April to 185 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 having fewer homes on the market is good for sellers. 

The next attached chart will help to understand the improvement in our outlook for Saline homes going into the summer market.

This chart shows the overall percent pending (column 4) in the Saline market, going back to 1996.  A reminder that we’re in a buyer’s market below 20% pending, a seller’s market above 25% pending, and a mixed market between 20-25%.  At our present 27% pending in Saline, that says that we’re in a seller’s market right now.  Our winter low for percent pending (15% in January) was higher than our winter low the previous winter, indicating that our real estate market is in even better shape this year than in any of the past five years.  Our “Seller’s Market” status means that there are more buyers looking at fewer homes available, so the seller has a slight edge in negotiating power right now.

I’ll continue to monitor our market conditions, which I review with home sellers when they are considering whether to market their home.  You can make better decisions when you know the overall condition of our market for Saline real estate.

If you want to be the first to know about conditions in the market for a Saline home or condo, please subscribe and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

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, and check out what others have been saying about me.  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”.

Follow me on Twitter,  Facebook, or Google+.