About Ann Arbor's Dexter

The Dexter luxury Real Estate market synopsis follows. As of February, there are 33 active homes for sale above $500,000: RES 2-Photo View (MLX). The average list price per square feet is $218.12. The average square feet of these Dexter, Michigan homes is 3,772 with average list price is $757,893. There is one pending home 5920 JOY.

Note there are 36 withdrawn and 12 expired listings. The withdrawn listings have a list price per square feet of $194.21. The expired listing price per square feet is $189.88. Both of these segments show a gap from the average sold price per square feet of $177.29.

The 4 sold homes range in bedrooms from 4 or 5 and baths from 2 to 5. The most recent sold homes are mapped below. The average sold price per square feet of these sold homes is $177.29. These homes sold since 10/1/09. The average list price to sold price of these homes is 86 percent.

Sellers will sell when the supply of Dexter luxury homes reduces and asking prices adjust to the market. I urge my clients to compare their home to the competition and choose a competitive price and impeccable condition. Over the last 12 months 8 homes have sold in this category 8/12 =.66. (34-8)/.66=39 months or 39/12 =3.3 years of supply of homes in Dexter luxury homes for sale. Pricing the home so it the best value is where you need to be if you want to sell. Look at the data with regard to square feet detail, and other amenities to beat the competitors. Remember it is a price war and beauty contest. The good news, once you have the data, the choice is up to you. Consult with the Ann Arbor Area Real Estate Experts for the latest statistics.

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

I can’t believe that I missed posting the previous market data. So here is what was happening in the Dexter Real Estate market.

The first chart shows months supply of inventory rising which always happens in each spring/summer market.

The second chart shows days on market down by 24 percent. Again no surprise here since houses sell faster in the summer months.

The third chart shows inventory rising from January. The number of new listings from May 08 to May 09 is reduced which is great news toward stabilization.

The fourth chart indicates an overall trend of reduced number of houses over the last year. However the sold units are also down from May 08 to May 09 by 25%.

The last chart indicates that summer prices rise (they always do) and in fact the sold prices were up 22 percent May 08 vs. May 09. The prettiest girls on the dance floor are getting picked. The foreclosures continue to come on the market. The banks still have little sense of urgency from the bank asset managers. Having buyers for these properties is still very frustrating. Bank non responsiveness is actually oppressive to the market. The Ann Arbor Board of REALTORS® June statistics will be reported this week.

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• The Dexter Real Estate market has 202 homes for sale ranging in price from $1,595,000 to $49,000.

The sold data indicates (based on limited sample size of 9 ) that the average sold price increased from the previous month. The highest list price was $730,000 and sold price of $730,000 with corresponding highest days on market of 228 days. We sold 8530 Cedar Hills for $495,000. All Dexter homes sold in 2009 are reported below:

Dexter MI Real Estate Market Update / Sold Properties

The 2 year trend line below indicates sales prices are declining. There is downward pressure from the attractive prices of foreclosures and short sales. Based on the amount of inventory that is being put on the market which happens seasonally, there is still an abundance of competing homes. Once the gap between the supply and demand narrows, the market will be more stable.

Dexter MI Real Estate Trends and Median Prices

There is currently 14 months supply of homes in the Dexter real estate market as shown below. This means that if no more homes are put on the market it would take over one year for these homes to be sold. A market with more than 6 months supply is called a buyer’s market.

Dexter MI Real Estate Absorption Rates

To discuss market particulars about your subdivision or neighborhood, please contact the Dexter real estate experts 734-669-0337 or stop by our site www.HomesofDexter.com or visit us at 3134 Baker Rd in Dexter.

Click here to search all Ann Arbor area Michigan homes and condos
with pictures and tours - FREE!

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

I recently listed a house in Dexter. The competition and list price per square feet is below in an excel spread sheet. We had feedback from 3 out of 5 showings, awaiting feedback from showings 4 and 5 from the previous day. The Seller asked, are we priced right?

I suggested we get the feedback from the showings and visit.

The exterior and interior condition is perfect, rated 1. Based on this graph from SHIFT, they need to be in the lower 33 percent of the comparable homes to get the offer. So I will have the dialogue to discuss their pricing options based on their motivation……wish me luck.

What would you do?

Address	List Price	SqFt +-	Sqft Remarks	Orig List Price	Basement	Basement	Garage	ML #	LP/SqFt	Cond
3178 FIELDSTONE	275,000	3264	PER ASSESSOR	300,000	FUL	DAY	3C	2901179	84.252	1
7310 NORTH TERRITORIAL	299,900	3386	PER ASSESSOR	3,386	FUL		3C, OUT	2903024	88.57	1
2997 ISLAND HILLS	299,900	2960	inc 1000 fin LL	314,900	FUL	FIN	2C	2812089	101.318	2
4664 DEXTER TOWNHALL RD	297,500	2806	PER ASSESSOR	297,500	FUL	WAL	2.5 OUT	2902825	106.023	2
8211 BRIDGEWAY	299,900	2760	PER APPRAISER	299,900	FUL		2C	2902504	108.659	1
6086 DEXTER TOWNHALL	309,000	2829	PER ASSESSOR	309,000	DAY	FUL	2.5	2902485	109.226	1
3241 EASTRIDGE	285,900	2593	PER BUILDER	285,900	FUL	EGR	3C	2709068	110.258	1
8525 PARKRIDGE DR.	289,900	2590	PER PLAN	289,900	FUL	EGR	2.5	2900319	111.93	1
8244 BRIDGEWAY	299,900	2590	PER PLAN	299,900	FUL	WAL	2.5	2900315	115.792	3
3230 EASTRIDGE DR.	299,900	2400	PER SUSSEX PLAN	299,900	FUL	EGR	2.5	2900372	124.958	1
average									106.0986
median									108.9425

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty

Currently there are 168 homes for sale ranging in price from $1,595,000 to $49,000. There are 37 homes listed over $500,000 for the luxury Dexter Real Estate market. On the other end there are 2 homes listed under $100,000. For any information on these active homes, be sure to ask us.

The Dexter sold homes data is as follows:

	#Sold	Avg Sold Price	Avg Price/SqFt	DOM*
Jan	8	$216,063	$97.34	53
Feb	8	$263,922	$96.28	97

Per the Ann Arbor Board of REALTORS ® the average list price in Jan 08 was $377,652 compared to $337,970 in 2009. When the gap between the list prices and the sold prices narrows, the market will be more stable. Our buyer agents have several Dexter homes under contract, awaiting closing. We have several more buyers looking for Dexter homes right now.

For more information on what is happening with homes for sale or sold in Dexter, please stop into our office at 3134 Baker Rd .Dexter, MI 48130 or call us 734-426-6669.

Kathy Toth and Team
www.KathyToth.com
Keller Williams Realty