Wednesday, July 9, 2008

Ann Arbor June 2008 Home Sales Statistics

The dramatically positive Ann Arbor home sales uptick we experienced in May did not carry over into June the way we had hoped. Yes, the number of listings continue to trend down from a year ago, which we continue to hope translates into price increases due to increased demand, but we are definitely not there yet. There is still plenty of inventory.

June 2008 sales were down by 2% compared to June 2007 after a 25% sales spike of May 2007 - May 2008 numbers. Year to date, residential sales, in units, are up 4%, and average sales price is down by over 9.5%.

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 June 2007: 1,216
SFH Listings in June 2008: 808
Decrease: 33%

SFH Listings Y.T.D. 2007: 6,746
SFH Listings Y.T.D. 2008: 4,926
Decrease: 27%

SFH Sales June 2007: 364
SFH Sales June 2008: 357
Decrease: 2%

SFH Sales Y.T.D. 2007: 1,380
SFH Sales Y.T.D. 2008: 1,436
Increase: 4%

SFH Avg. Days on Market June 2007: 75
SFH Avg. Days on Market June 2008: 77

SFH Avg. Days on Market Y.T.D. 2007: 83
SFH Avg. Days on Market Y.T.D. 2008: 85

SFH Avg. Sales Price June 2007: $267,571
SFH Avg. Sales Price June 2008: $232,162
Decrease: 13.3%

SFH Avg. Sales Price Y.T.D. 2007: $246,269
SFH Avg. Sales Price Y.T.D. 2008: $223,082
Decrease: 9.5%

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