Wednesday, August 13, 2008

Ann Arbor July 2008 Home Sales Statistics

July 2008 Ann Arbor area market statistics continue to show a significant drop in inventory over 2007. Down over 23% year to date. Sales, in number of residential (Single Family Home) units, are up slightly at plus 2% over July 2007. Average sales price continues to drop by 1.34% per month

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 July 2007: 1,008
SFH Listings in July 2008: 791
Decrease: 21%

SFH Listings Y.T.D. 2007: 7,414
SFH Listings Y.T.D. 2008: 5,715
Decrease: 23%

SFH Sales July 2007: 342
SFH Sales July 2008: 349
Increase: 2%

SFH Sales Y.T.D. 2007: 1,730
SFH Sales Y.T.D. 2008: 1,794
Increase: 0.4%

SFH Avg. Days on Market July 2007: 64
SFH Avg. Days on Market July 2008: 79

SFH Avg. Days on Market Y.T.D. 2007: 97
SFH Avg. Days on Market Y.T.D. 2008: 84

SFH Avg. Sales Price July 2007: $264,404
SFH Avg. Sales Price July 2008: $236,209
Decrease: 10.7%

SFH Avg. Sales Price Y.T.D. 2007: $248,715
SFH Avg. Sales Price Y.T.D. 2008: $225,447
Decrease: 9.4%

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