The Wagley Group
The Wagley Group

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April-May 2021 Lenawee County Real Estate Data

House with percentage sign

The Real Estate Market in Lenawee County is still very robust! The Wagley Group of Realtors is knowledgeable of this market and can assist you today!

For Buyers:

31 more properties were available in May than in the previous month, so there were more homes to choose from. More options for buyer clients are a good thing!

For Sellers:

29 less homes sold than in the previous month. Fewer sellers decided to enter the market in May. As we indicated last month with April being one of the biggest months of the year for a home buying experience, it does not surprise us greatly that there are fewer homes in the sold column.

Homes were on the market longer in May than in April…by 14 days. This stat can account for a number of potential delays in the processes involved in a transaction: Appraisers taking more time to complete a file, delays in final underwriting approval from the lender, buyers delay in getting final requirements to a mortgage originator, possible remaining title deficiencies or delays in judicial/approvals for estates and trusts prior to close.

The average sales price rose in May by nearly $56,000.00. Property values are rising and more expensive homes are arriving on the market. This is welcome news for sellers!

At TWG, we have seen a number of sellers taking advantage of this exciting market in order to maximize their ROI [Return on Investment].

In April, 0% of active listings expired. In May, that value was .81%. This means that a few homes moved beyond their actual expiration date on the listing contract and became conditionally or unconditionally withdrawn from the MLS. This percentage differential does not concern us. With some inventory rolling over, it provides more possible buyer choices if sellers decide to continue to market their property or employ the services of a competing brokerage.

The list to sold ratio percentage dropped slightly in May by .79%. This equates to active home sold prices dropping in value so sellers received slightly less in net sold proceeds. This percentage also does not concern the Realtors and management of The Wagley Group.

The list to sold ratio percentage dropped slightly in May by .79%. This equates to active home sold prices dropping in value so sellers received slightly less in net sold proceeds. This percentage also does not concern the Realtors and management of The Wagley Group.

If you are a buyer wishing to enter this seller market and have not selected a Buyer Representative, please consider one of our dedicated Realtor professionals at The Wagley Group to help guide you through the home buying process. They will make this process as stress free as possible; Their integrity is matched by the enthusiasm they bring to each transaction. They will work hard to negotiate the best possible terms for you in this fast-paced real estate world.

If you are a seller contemplating the home selling process and want to have a Hassle-Free analysis of what your home value is, The Wagley Group’s trusted and experienced Realtors can provide a free market review at no cost to you! Maybe you will join the growing list of TWGs other satisfied seller clients in receiving the greatest value and net proceeds for your home.