Local Real Estate Market in Chelsea, MI

The local Chelsea real estate market has seen its downturn for nearly 2 years now, on average prices have dropped 8-20% per year since 2006. But finally the market is beginning to show a turnaround. Today there are 202 active homes on the market (202 Residential Homes, 111 Vacant Parcels, 32 Condos, 20 Commercial Properties, 0 Farms and 4 Businesses in total: 369 Active Listings in Chelsea) although the shear number sound terrifying that is the lowest it's been all season. Things are starting to move and I have had a great year thus far.

What does this mean for buyers? If you are a serious homebuyer, the absolute best time of the year to buy is between Halloween and New Year's Day. The reasons are that there are few home buyers are in the market during the holiday season so competition is low and lastly residential home and condo sellers who have their homes listed for sale now are usually highly motivated to sell and will listen to any reasonable offer. There is an additional special reason the 2008 holiday season is a great time to be a homebuyer. It's a "buyer's market". That means even during this slow holiday season, when most unmotivated sellers take their listings off the market, there are more homes listed for sale than there are qualified buyers searching for homes. With the continuing drop in interest rates the buyers that have been waiting around all season for that perfect deal or home are finally starting to realize that its time to buy.

My prediction for 2008 My prediction for 2008 is good if the activity that I have seen in the market in the recent month continues.

For those buyers that have nothing to sell there is no better time to be a homebuyer. With that said I have some terrific homes that are available with immediate occupancy.

28 Sycamore, Chelsea $135,900 with $2500 credit to buyer for closing by 11/28/08. 3 bedrooms, 1 ½ baths, 1688 Square Feet, 2 ½+ car attached garage, partially finished basement with egress window, family room with woodstove, living room with fireplace, updated kitchen. http://surovell.com/mls=2808078

15956 Gorton, Grass Lake (Chelsea Schools) $225,000. 3 bedroom 2 ½ bath, 2041 Square Feet, full walkout basement is plumbed for bath, built in 2006, living room with fireplace, cherry cabinetry throughout, corian counter-tops, 2 balconies, 2^nd floor laundry and a 2 ½+ car attached garage. http://surovell.com/mls=2809342

12894 McKinley Heights, Chelsea $124,900. 4 bedroom, 2 ½ baths, attached 2 ½ car garage, 2320 Square Feet, partial basement all on 2.5 Acres. http://surovell.com/mls=2809665

13693 W. Quail Hollow, Chelsea $319,999. Stunning 4 bedroom, 2 ½ bath home on 1.99 acres, built in 2004, 2396 Square Feet, 3 car attached garage, full walkout basement is plumbed for 3 piece bath, stunning heavily wooded acres backs to Inverness Country Club. http://surovell.com/mls=2810238

2859 Hayes, Chelsea Vacant 2.99 Acres $59,900. Rolling hilltop parcel is perked and ready for your dream home. http://surovell.com/mls=2809809

6541 Clear Lake Shores Unit #3 Condo $155,000. 3056 Square Foot, 4 bedroom, 3 full baths, 2 car attached garage, paved drive, 2 fireplaces, 2 kitchens, study, wrap around deck with lake views of Clear Lake, Chelsea Schools. http://surovell.com/mls=2810484

Additional properties also available in; Manchester, Grass Lake, Pinckney, Brighton, Howell, Dexter, Jackson, Fowlerville, Ann Arbor, Howell and Saline. These properties can be viewed at www.tammylehman.com