It’s time for the monthly Plymouth Michigan real estate statistics!Â Presented here are the numbers for homes closed in the month of April 2010.
Don’t forget to hit the “full screen” button to view this presentation at a size you can actually READ the numbers.
Plymouth Michigan Homes | Average Sales Price: $203,913
Down from March’s Average Sales Price of $210,653, April saw 26 homes successfully sell.Â This is a modest increase of 1 sale from April 2009 and is down 14 sales from March of 2010.
Plymouth Michigan Homes | Average Sales Price to List Price Ratio: 92.05%
For the homes that sold in Plymouth Michigan, they sold for about 8% less than what they were originally listed for.Â This ratio shows the difference between the initial offering price of a home and the final contract price of a home.Â Please note that this ratio does not take into account any seller concessions, so the adjusted ratio could be greater.
Plymouth Michigan Homes | Average Days on Market: 78
Good news for Plymouth Michigan home sellers, the average days on market appears to be dropping!Â From 183 days in January to 78 days in April, every month in between has shown a decline in time on market.Â This is likely due to two different factors:
- More buyers active
- Pricing more in line with market expectations
With more buyers on the market, it follows, that homes of quality and price won’t last very long.Â When sellers price more closely in line with what the market will bear, again, those homes simply don’t last long on the market.
Plymouth Michigan Homes | Average Sales Price per Square Foot: $104
Many folks like to look at the price per square foot, when it comes to housing.Â A decent rule of thumb, just off this one metric of housing stats, is that if a home is priced around $100 a square foot, and is sporting great quality, that home will simply not last the week on market.Â Of course, there are exceptions on both sides of this statement, that’s why it’s called a rule of thumb.
Here’s my take on these stats and the benefits to buyers and sellers in the Plymouth Michigan housing market: