December 2009 Ann Arbor Home Sales Report

The year-end Ann Arbor real estate sales report shows some encouraging trends:

FIRST: The increase in unit sales over the past 60 days. In November, there was an increase of 32% in unit sales over November 2008. In December, that increase, although lower, was still encouraging at a +6% over December 2008.

SECOND: The average sales price for Single Family Homes was higher in December 2009 over December 2008 by +2.7%. Year to Date, the average sales price measures in at an almost -14%; but during the 4th Quarter of 2009 the average sales price went from a -15.5% in October to a +2.7% mark in December. An improvement of +18.2%.

Here are the latest statistics from the Ann Arbor Board of Realtors. These numbers are for Single Family Homes (SFH) Residential, and do not include condominiums:

SFH Listings in December 2008: 409
SFH Listings in December 2009: 359
Decrease: 22.3%

SFH Sales December 2008: 216
SFH Sales December 2009: 229
Increase: 6%

SFH Sales Year to Date 2008: 3,082
SFH Sales Year to Date 2009: 3,027
Decrease: 1.8%

SFH Avg. Sales Price December 2008: $173,343
SFH Avg. Sales Price December 2009: $178,059
Increase: 2.7%

SFH Avg. Sales Price Y.T.D. 2008: $211,342
SFH Avg. Sales Price Y.T.D. 2009: $182,287
Decrease: 13.8%

$159,000 - 1700 Weatherstone, Ann Arbor, MI

November 2009 Ann Arbor Home Sales Report

Here's the deal. The Nov. 30 deadline for the First Time Home Buyer Tax Credit was a huge shot in the arm for residential Unit sales: An increase of 32% in unit sales over November 2008.

Another definite trend of note is the dramatic increase in the average sales price. It is still in negative territory over 2008, but shows a marked improvement in the last 90 days. The Year to date average sales price drop improved over the past 90 days by a whopping +13.8%. (From -17.8% in August to -15.5% in October; to -4% in November).

Here are the latest statistics from the Ann Arbor Board of Realtors. These numbers are for Single Family Homes (SFH) Residential, and do not include condominiums:

SFH Listings in November 2008: 428
SFH Listings in November 2009: 346
Decrease: 28.4%

SFH Sales November 2008: 202
SFH Sales November 2009: 268
Increase: 32%

SFH Sales Year to Date 2008: 2,860
SFH Sales Year to Date 2009: 2,794
Decrease: 2.4%

SFH Avg. Sales Price November 2008: $183,738
SFH Avg. Sales Price November 2009: $176,543
Decrease: 4%

SFH Avg. Sales Price Y.T.D. 2008: $214,156
SFH Avg. Sales Price Y.T.D. 2009: $182,704
Decrease: 14.7%

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How to Buy a House With a Rehab or Renovation Loan | eHow.com

October 2009 Ann Arbor Home Sales Report

October 2009 comparative analysis shows an average sales price drop of 7.4% over October 2008. The Year to date average sales price drop improved over the past 60 days by +2.3%. (From -17.8% in August to -15.5% in October). Also notable in October is an 11.2% increase in unit sales over October 2008. This is primarily attributed to the First Time Home Buyer Tax Credit. Here are the latest statistics from the Ann Arbor Board of Realtors. These numbers are for Single Family Homes (SFH) Residential, and do not include condominiums:

SFH Listings in October 2008: 655
SFH Listings in October 2009: 502
Decrease: 23.4%

SFH Sales October 2008: 249
SFH Sales October 2009: 277
Increase: 11.2%

SFH Sales Year to Date 2008: 2,648
SFH Sales Year to Date 2009: 2,524
Decrease: 4.7%

SFH Avg. Sales Price October 2008: $186,324
SFH Avg. Sales Price October 2009: $172,698
Decrease: 7.4%

SFH Avg. Sales Price Y.T.D. 2008: $216,833
SFH Avg. Sales Price Y.T.D. 2009: $183,426
Decrease: 15.5%

Top 5 Home Improvement Projects Based on Cost & ROI

HomeGain.com, one of the first websites to offer Web-based free instant home values, announced that it has released the results of its nationwide home improvement and home staging Home Sale Maximizer survey.

HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers. HomeGain received responses from nearly 1,000 Realtors nationwide and configured a list of the top 12 do-it-yourself (DIY) home improvements that cost under $5,000 and benefit sellers most when they sell their homes.

According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI)
5. Repairing plumbing ($385 cost / $1,250 price increase / 327% ROI)

Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.

“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.”

Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom/s.

The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase).

For more information, visit www.homegain.com.

10 Cities Where Home Prices Are Improving

Ten cities with improving home sales market conditions from Forbes.com, sourcing the Schiller/ Case Price Index:

1) Minneapolis
2) San Francisco
3) Detroit
4) Chicago
5) Phoenix
6) San Diego
7) Los Angeles
8) Washington DC
9) Denver
10) Seattle

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