Saline sales report for May 2012

Here’s the Saline Sales report for May 2012.  This is an update to my monthly market report which I publish around the middle of the month.  (Original article written by Vance Shutes).  If you are interested in Saline homes and condos, here’s what happened in May, 2012.

Looking first at Saline homes:

Saline Homes

Active

Sold

Lowest

Highest

Months of Supply

City of Saline

56

7

 $     84,000

 $ 253,000

8.0

Lodi Township

39

1

 $1,100,000

 $1,100,000

39.0

Pittsfield Township

68

7

 $  180,000

 $ 510,000

9.7

Saline Township

25

1

 $  515,000

 $ 515,000

25.0

York Township

48

5

 $  299,900

 $ 399,000

9.6

Totals

236

21

11.2

The market for Saline homes in May continues to reflect the lack of winter we experienced this year.  The number of homes available for sale increased (from 228 in April) and the number of homes sold during May fell (from 24 in February).  It’s definitely a seller’s market at this time.  We continue to hear of new listings (at GREAT prices) with multiple offers.  For those sellers on the market at this time – if your home hasn’t sold in the first week, your asking price is too high.  There are lots of buyers out looking at homes right now.  If they’re not looking at yours, it all comes down to price. 

I expect that the seller’s market conditions will continue through June, after which most buyers will have found the home they want this year.  If you haven’t sold by the end of June, your chances of selling THIS YEAR are greatly diminished.  Ask yourself – would you buy your house at your asking price today?  Because if you don’t sell by the end of June, you likely just bought your house for your price for the rest of the year.

Am I too harsh in saying this?  Perhaps.  But wouldn’t you rather hear the truth than some “puffed up” story about how great your home is while it is NOT selling?

Now, let’s look at Saline condos.

Saline Condos

Active

Sold

Lowest

Highest

Months of Supply

City of Saline

15

1

 $  215,000

 $ 215,000

15.0

Lodi Township

3

0

 $             -  

 $             -  

Pittsfield Township

3

0

 $             -  

 $             -  

Saline Township

9

1

 $  158,705

 $ 158,705

9.0

York Township

0

0

 $             -  

 $             -  

Totals

30

2

15.0

At least during May, there were some Saline condo sales reported, while at the same time, the number of condos available went up slightly.  It’s a tough market right now for condos in Saline.  If you’re looking to buy, you’re in great shape.  If you’re looking to sell your Saline condo right now, have EXTREME patience.  You’ll need it!

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.

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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.  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”.

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