A regular feature here is a rundown on the monthly statistics for homes in Plymouth, Michigan. Â The charts presented here are created by only looking at the homes that sold in the past month. Â In this case, we looked at the Plymouth, Michigan (city and township) homes that sold in January. Â The charts themselves consist of the past 12 months for you to reference.
[FYI – Click the graph for a bigger version to view.]
Average Sold Price | Plymouth, Michigan Homes
Check out the jump in the average sales price for homes in Plymouth, Michigan! Â That’s a nearly 7.5% increase in the sales price from December to January. Â Of course, January’s number of closings is pretty low, so that could be throwing the average sales price off a bit.
Average Days on Market | Plymouth, Michigan Homes
As can be expected, the winter months show a spike in the average days on market for homes closed. Â Homes that sold in January 2010 had an average days on market of 183. Â That means that it took, on average, just a shade over 6 months to sell a home in Plymouth, Michigan.
Average Sales Price per Square Foot | Plymouth, Michigan Homes
One metric that many buyers I have worked with will use in determining the value of a property is the price per square foot. Â My rule of thumb in this challenging market has been that a home with great quality and pricing at about $100 a square foot will sell pretty quickly. Â Sure enough, the graph above holds this thought true. Â January 2010 saw an average price per square foot of $99.
Sales Price as Percent of List Price | Plymouth, Michigan Homes
Here in Plymouth, homes sell for about 91% of their original list price. Â In January 2010, they sold for 91.32% of their original list price. Â This means that regardless of the list price when the home sold, it sold for 8.7% less than what it was originally listed for. Â This means that homes that are currently active on the market are likely 8.7% overpriced for the market. Â With that knowledge you can now price your property accordingly and sell in a shorter period of time.