Saginaw real estate sales of preowned homes ended the year with a total of 36 sales for December, giving December more sales than October. Buyers continue to search for the right properties while the inventory of homes for sale stayed low. New construction is very plentiful in a few Saginaw neighborhoods and the areas close to Saginaw, and these new homes compete for buyers. New construction prices start at about $240,000.
The 36 preowned homes sold in an average of 35 days, but ten homes sold in two weeks or less. Very desirable homes sold quickly, but other stayed on the market much longer. One house sold in one day, but another was for sale 169 days. Despite the competition from new construction, many of the more expensive homes sold quickly for good prices, reflecting the amenities of the established neighborhoods, the beautiful condition of these homes, the larger lots sizes and greater size of these homes.
The average price for a Saginaw home was $222,599. Thirteen homes sold for less than $200,000. The sales prices ranged from $159,000 for one house in Saginaw North to $350,000 for a home in Creekwood. The graph above shows the average sold prices for Saginaw homes during 2019 by month. The graph indicates little change in the value over this past year. Looking carefully at the higher late spring and summer averages and what homes sold during those months, the sales included larger homes and more homes with swimming pools, but not real price changes in the market. Families often move during the summer, and sellers plan to sell larger homes at this time of year.
Buyers paid 98.62% of the list price for their homes. Of course, this statistic is based on prices that may have been previously lowered and does not include closing costs that the seller paid for the buyer. In October the average sales price was 98.47% of the list price, which shows that the market has changed very little in the last two months. The lowest price a seller received was 91% of the list price, and many sellers received 100% of their list price.
The newest home that sold last month was a home in Basswood Crossing built in 2019. This was a relocation sale because the seller was transferred for work. The oldest home is located on Thompson Drive and was built in 1964. It sold in one day for the list price of $175,000.
Let me help you take advantage of this good real estate market in 2020. Please call me, e-mail me or text me, and learn how I can help you with all your real estate needs. With more than twenty years in our local real estate market, I know many experts in fields related to real estate, and I will share their expertise with you. I look forward to serving you!
– Kathleen Wheeler –