What is happening in the Chelsea, Michigan Real Estate Market?

What is happening with the absorption rates for the Chelsea Real Estate market? Homes in Chelsea have gone from about 12 months of supply in January to 14 months in June. If no other Chelsea residential homes were put on the market, it would take 14 months to sell these homes.

	JAN	FEB	MAR	APRIL	MAY	JUNE
				CHELSEA
Listings	174	115	148	161	177	148
Under Contract	7	5	8	14	12	16
Sales Past 12 Months	171	123	110	99	190	123
Absorption Rate	14.25	10.25	9.17	8.25	15.8	10.3
Month's Supply	12.21	11.22	16.15	19.52	11.18	14.44

Chelsea Real Estate Market Data from 2006 to 2009 is graphed below:

Note the downward trend of Average Sale and Asking Prices in yellow and green respectively. See how the units sold have remained flat. The number of new listings have declined slightly.

Click here to find out more about Chelsea and to search for homes in Chelsea. We are selling homes here and in fact listed a home in Chelsea Ridge and got multiple offers. I have posted sold Chelsea, Michigan homes.

Kathy Toth

www.KathyToth.com

Posted Monday Aug 03