Chelsea Real Estate Market Update
Monday, July 13, 2009
Ok, I am late in posting the market data for Chelsea. So here is what was happening in the Chelsea Real Estate market. The first chart shows months supply of inventory down from May 08 to May 09 with a trend line going down and ranging from from 21 months to 8.1 months supply.
The second chart shows inventory rising from January. The number of new listings from May 08 to May 09 is reduced by 22 percent which is great news toward stabilization. The sold units were down by 15 percent too.
The last chart indicates that summer prices rise (they always do) and in fact the sold prices were up 45 percent May 08 vs. May 09.
The prettiest girls on the dance floor are getting picked. The foreclosures continue to come on the market. The banks still have little sense of urgency from the bank asset managers. Having buyers for these properties is still very frustrating. Bank non responsiveness is actually oppressive to the market.
The Ann Arbor Board of REALTORS® June statistics will be reported this week.
The second chart shows inventory rising from January. The number of new listings from May 08 to May 09 is reduced by 22 percent which is great news toward stabilization. The sold units were down by 15 percent too.
The last chart indicates that summer prices rise (they always do) and in fact the sold prices were up 45 percent May 08 vs. May 09.
The prettiest girls on the dance floor are getting picked. The foreclosures continue to come on the market. The banks still have little sense of urgency from the bank asset managers. Having buyers for these properties is still very frustrating. Bank non responsiveness is actually oppressive to the market.
The Ann Arbor Board of REALTORS® June statistics will be reported this week.
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