Thirty-three homes sold in Saginaw in August of 2017. The average sales price of $197,747 moved upward toward $200,000. The lowest sales price was $115,000 and the highest was $327,990. Thirteen houses sold for more than $200,000. Six sold for less than $150,000.
Many of the August home sales were for homes in older neighborhoods. The average year built was 1997 and the median was the year 2000. Six homes were sold in Saginaw North, one of Saginaw’s oldest neighborhoods. The subdivision with the second highest number of sales was Highland Station where homes were built about twenty years ago. Only four newly constructed homes sold through the multiple listing service, which is evidence that many of our new neighborhoods are currently completed or homes sold directly from the builders. Some builders, such as McBee, plan to build more homes in the future in Saginaw.
The average size of the home sold in August was 1870 square feet, and ten homes with more than 2000 square feet were sold. Sales included two large homes with more than 300 square feet. One was new construction, but the other was built in 1999. The smallest home was built in 1969 with a mere 1172 square feet. This little house is in Rancho North.
Saginaw houses continued to sell quickly. Twenty- three homes sold in two weeks or less, and seventeen sold within a week. The average days on the market was twenty-two days, but this time includes the new construction which took longer to sell and a few outliers that sold slowly because of the home’s condition or the circumstances of the sale, such as going back on the market when a buyer’s financing fell through.
Buyers can expect to pay the list price for a home which is priced fairly. The average home sold for 100.38% of the list price. Two houses sold for more than $10,000 above their list prices. Both were originally priced at less than $160,000, a price point where the competition is steep. Thirteen homes sold for the exact list price, and five more for slightly more than list price. Seven buyers paid less than the list price, and discounts were more common in prices over $200,000. The minimum price was 95.19% of the list price.
– Kathleen Wheeler –