• The Chelsea Real Estate market has 164 homes for sale ranging in price from $1,125,000 to $40,000.
  • According to the Ann Arbor Board of REALTORS® Chelsea prices declined from $240,863 in 08 to $139,750 in 09.
  • The highest list price was $489,000 and sold price of $460,000 with corresponding 13 days on market.
  • We sold short sale 611 Creekside for $150,000.
  • The 7 homes sold in March and all sold data for 2009 is reported below:
Real Estate Sold in Chelsea MI Update The 2 year trend line below indicates sales prices are declining.  There is downward pressure from the attractive prices of foreclosures and short sales. According to National Association of Realtors 45 percent of solds are distressed sales. Based on the amount of local inventory that is being put on the market which happens seasonally, there is an abundance of competing homes. Once the gap between the supply and demand narrows, the market will be more stable. Chelsea Real Estate Trends and Median Prices There is currently 16 months supply of homes in the Chelsea real estate market in the table below.  This means that if no more homes are put on the market it would take over one year for these homes to be sold.  A market with more than 6 months supply is called a buyer’s market. Ann Arbor Real Estate Absorption Rates To discuss market particulars about your subdivision or neighborhood, please contact the Chelsea real estate experts 734-669-0337 or search on our site www.KathyToth.com. Search all listings in Michigan with pictures and tours...Free! Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Keller Williams Realty