Plymouth Michigan Real Estate Stats | November 2010

[To embiggen, be sure to click “Fullscreen.”]

Plymouth Michigan Real Estate Statistics | November 2010

Average Sales Price:  $252,052

There was an over 17% increase in sales price from October to November 2010.  This is a nice bump in sales price to see heading into the winter months.  In analyzing the individual sales, it appears as though there were a few more homes well above the average sales price than usual.  These sales, obviously, helped pull the average sales price higher.

Average Sales Price to List Price Ratio:  91.41%

Hovering a little above 91% of list price, sellers gave up less than 9% of their list price to sell their home in November.  For buyers, this means that you should, on average, count on your ultimate sales price being about 9% less than the home’s original list price.  Please note, that this ratio does not take into consideration any seller concessions to assist the buyer with closing costs and prepaid items.

Average Number of Days on the Market:  114

We see that nearly four months was the average time for a home to have sold in Plymouth during the month of November.  The days on market were up 47 days from October’s average of 67 days on market.

For sellers, you should plan accordingly: average price, average quality means an average of 114 days on the market.  Buyers, understand that if a home is drastically under the 114 days on market and has a great listing price, there are likely a bunch of other buyers taking note and getting ready to write offers.  Don’t use a short days on market metric as your ONLY reason to wait or jump on the home.  See the days on market as a piece of the larger picture, when making an offer to purchase.

Average Sales Price per Square Foot:  $107

Another stat that I would take with a grain of salt, for buyers and sellers, is the sales price per square foot.  For buyers, I would suggest using this average as a way to determine a very rough estimate of what a [fill in the blank] square foot house would cost in Plymouth, Michigan.  For sellers, I would advise the same as a rough estimate for the sales price of your home.

Why present the number if it should be taken with a grain of salt?  Simply put, the sales price per square foot is another stat that I would suggest you be aware of, but not use as the sole determining factor on buying or selling a home.  Taken together with the quality of the home, list price against the rest of the competing homes for sale, and location, average sales price per square foot could be a good indicator of the value or deal on a given home.

One Response to Plymouth Michigan Real Estate Stats | November 2010

Leave a reply

1212 Woodlawn Ct, Wolverine Lake, MI | Lake Community Living
1212 Woodlawn Ct, Wolverine Lake, MI 48390 Search Wolverine Lake Homes » [more]
SOLD | 2001 Marble Ct, Commerce, MI | Expansive Ranch on an Acre
2001 Marble Ct, Commerce, MI Search Commerce Township Homes » MLS: 3258 [more]

Todd Waller | Ann Arbor Real Estate | Berkshire Hathaway HomeServices Snyder & Company, Realtors

todd waller | real estate | todd @ toddwaller.com | 734.564.7465

Homes of Ann Arbor

BeforeYouBuyAnnArbor.com

BeforeYouSellAnnArbor.com

©2018 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.

copyright ©2018 | todd waller | sitemap | privacy policy

Todd Waller Real Estate
Local Business: Todd Waller
Description: Todd Waller, a self described "destroyer of the real estate fortress of suckitude," focuses on helping sellers and buyers in Ann Arbor, Canton, Livonia, Northville, Novi, South Lyon, Plymouth, and Ypsilanti
Website:
Location: 2655 Plymouth Road Ann Arbor MI 48105
Email:
Phone: 734.564.7465