Let’s face it, even if you had no intentions of moving, you probably heard stories about how crazy the housing market was last year. Things were crazy! Multiple offers, cash offers, houses going over asking price, full appraisal gap guarantees, no inspections, free rent back, low inventory, high demand, and the list goes on. 2021 will go down in history as one of the most competitive real estate markets ever recorded. While all neighborhoods proved popular, some Saline neighborhoods were more popular than others.
So what were the 5 most popular neighborhoods in Saline? Well, we’re going to tell you! But first, you may be wondering what the criteria are that we used. We’re so glad you asked! First, we looked at the concentration of home sales in a neighborhood. Then we looked at the average Days On Market (DOM) to determine how quickly the homes in a neighborhood were selling. That tells us what the demand was for that particular neighborhood. Finally, we looked at how much over asking the homes were going for. We will show you these stats for each of the neighborhoods as well as the list prices and sale prices. The numbers we were most interested in were the MEDIAN numbers rather than the averages. The averages can be easily thrown off by outliers (especially DOM). The meidan tells you what was the middle numbers and therefore considered more accurate in the industry.
If you would like to see our blog about the January Housing Market Report for Washtenaw County too!
So without further ado, the Top 5 Neighborhoods in Saline for 2021 were…
#5 Saline Valley Farms
So we went back and forth with putting this neighborhood on the list because with the exception of a few homes, these were all new construction properties. New construction is skewed because, unlike established neighborhoods, large quantities of homes are for sale at the same time. However, that being said Saline Valley Farms had a very impressive 31 home sales last year (almost double the number of sales of the #1 neighborhood) and that is what secured its place on the list.
The Northview neighborhood was built in the late ’90s and its homes are priced in the sweet spot of just under 400k making it a perfect option for first or second-time homebuyers. Plus it has a community park, is located across from schools, and is within walking distance to trails and downtown.
#3 River Ridge Condos
This neighborhood was by far the most popular condo development in Saline with a whopping 19 sales and median 10 DOM. These condos boast affordable association fees and a convenient location close to downtown. This neighborhood is a great option for someone who doesn’t want to deal with the hassle of yard work and exterior maintenance.
#2 Rolling Meadows
Selling the most homes of any established neighborhood (24 to be exact), Rolling Meadows is very popular and affordable neighborhood with a great location and awesome park. It features both ranches and 2 story homes and is the perfect neighborhood for first-time homebuyers, people downsizing, and even investors. What’s great about Rolling Meadows is that even though the homes were built around the early ’60s many of the homes have had a lot of updates because of the high turnaround due to people upsizing to bigger homes. If you’re looking to get into Saline at an affordable price this is the neighborhood for you.
While Wildwood did not sell the most homes, it is by far the most popular in Saline. Every home in Wildwood sold within 30 days with an impressive, median number of 4 DOM. More than that though, the homes in Wildwood had the highest over asking sale prices proving that people are willing to pay top dollar to get into this neighborhood. Wildwood features affordable HOA fees, a great location, nice homes, and a wonderful community feel. It’s no wonder it is our number 1 neighborhood in Saline!
What this means for Sellers
Are you living in one of the most popular neighborhoods in Saline? If so, that’s great news if you plan to sell your house any time soon. If not, no worries! Inventory is extremely low right now and though homes aren’t selling like they did in 2021, it’s still a seller’s market and home values are expected to rise 5.7% this year.
What this means for Buyers
Are you thinking of buying a home in Saline? These neighborhoods are the ones people are flocking to. If you want to go where the people are, then these are for you. However, expect there to be a decent amount of competition. Don’t worry too much though. Even though inventory is low, we are seeing the steady return of a normal market and expect less competition than we experienced last year. If you’re still worried though check out our blog Answers to Your 3 Biggest Real Estate Questions.
If you have any questions or if we can be of assistance in any way please don’t hesitate to reach out to us. We love to help!
MI Home Team
Published on 2022-01-20 22:48:51