May 2010 is officially over and we are rushing head long into June!
Important item to note in the housing market: April 30th has passed us by. April 30th was the deadline for buyers to get under contract to be eligible for the Uncle Sam housing purchase tax credit (up to $8,000 for first time homebuyers and up to $6,500 for everyone else).
To view the Plymouth Michigan housing stats, be sure to click “Fullscreen” below to see everything.
Average Sales Price: $204,093
A modest increase over April’s average sales price of $203,913, May saw 31 homes change ownership in the City of Plymouth, Michigan.
Average Sales Price to List Price Ratio: 94.09%
For the homes that sold in Plymouth Michigan, they sold for about 6% less than what they were originally listed for. This ratio shows the difference between the initial offering price of a home and the final contract price of a home. Please note that this ratio does not take into account any seller concessions, so the adjusted ratio could be greater.
Average Number of Days on Market: 73
If your home in Plymouth, Michigan was priced within 6% of its ultimate sales price and it sold in May, your home was likely on the market for just over two months. This is good news for sellers in our market that are simply looking to sell their home, not just list their home for sale. With January 2010 showing a peak of just over 6 months as the average number of days on market, a precipitous drop to just over 2 months shows that buyer interest is alive for homes in Plymouth, Michigan.
Average Sales Price per Square Foot: $109
My rule of thumb still applies! Todd’s rule of thumb is: Great quality, priced around $100 per square foot and the home will sell quickly.
Want more information on the Plymouth, Michigan real estate market? Connect with me via the Google Talk button along the right-hand side of this page or connect via any social network along the left side of this page.