November 2008 Ann Arbor Condo Sales Report

After a spike in unit sales of +31% for October 2008 over October 2007, there was more than a 60% swing to the negative in Condo unit sales with only 25 units sold in November 2008.

Here are the latest statistics from the Ann Arbor Board of Realtors. These numbers are for Condominiums. Please see earlier post for Single Family Home sales statistics.

Condo Listings in November 2007: 111
Condo Listings in November 2008: 93
Decrease: 17%

Condo Listings Y.T.D. 2007: 2,531
Condo Listings Y.T.D. 2008: 1,843
Decrease: 17.2%

Condo Sales Nov. 2007: 41
Condo Sales Nov. 2008: 25
Decrease: 39.1%

Condo Sales Y.T.D. 2007: 615
Condo Sales Y.T.D. 2008: 558
Decrease: 9.3%

Condo Avg. Days on Market Nov. 2007: 89
Condo Avg. Days on Market Nov. 2008: 74

Condo Avg. Days on Market Y.T.D. 2007: 87
Condo Avg. Days on Market Y.T.D. 2008: 95

Condo Median Sales Price Nov. 2007: $152,288
Condo Median Sales Price Nov. 2008: $140,000
Decrease: 8.1%

Condo Median Sales Price Y.T.D. 2007: $158,000
Condo Median Sales Price Y.T.D. 2008: $144,250
Decrease: 8.8%