What is happening with the absorption rates for the Saline Real Estate market?

JAN

FEB

MAR

APRIL

MAY

JUNE

AUG

City

SALINE

Listings

243

192

237

258

294

257

297

Under Contract

14

21

22

14

16

35

35

Sales Past 12 Months

290

213

194

189

342

238

302

Absorption Rate

24.17

17.75

16.17

15.75

28.50

19.8

25.2

Months Supply

10.06

10.82

14.66

16.38

10.32

12.96

11.80
Homes in Saline have gone from about 10 months of supply in January to 11.8 months in August. If no other Saline residential homes were put on the market, it would take almost one year to sell these homes Saline Real Estate Market Data from 2006 to 2009 is graphed below: Average Sold price was down slightly from June and number of units sold in August was up slightly from June. This year 188 homes have sold ranging in bedrooms from 6 to 2 and baths from 5 to 1. The largest home sold was 8000 square feet and smallest was 864 sf.. The highest list price was $1,600,000 to smallest was $37,900. The highest sale price was $1600,000; average sold price is $257,009. The average sold price per square feet $108.20. sal There are 246 active Saline homes vs.302 July active homes for sale ranging from 6 bedrooms to 1 and 5 baths to 1. The largest home is 11,237 square foot and the smallest is 815. The highest list price is $2,600,000 down to $55,000. There was some improvement in number of units sold this year in Saline, and in fact from July 08 to 09 the number of homes sold are up 10 percent while homes for sale are up 5 percent. In July 08 vs July 09 the median asking price was up 5.3 percent and the sold prices were down 25%. There was a sold price increase during part of the year but is trending down at the end of the market season. All in all it remains a buyers market regarding Saline Real Estate with a buffett of opportunity, low interest rates and affordable homes. There are 34 foreclosures in Saline now. With all Saline has to offer, it’s no wonder CNN/Money Magazine once again named us one of the country's top 100 "Best Places to Live" out of more than 1,300 cities ranked. Incidentally, watch us help Saline couple sell their condo and move to Pinckney on House Hunters HGTV. Saline Tour 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