December 2008 Ann Arbor Home Sales Report

It's not a pretty picture. Ann Arbor Single Family Home average sales prices are down by almost 30% from November 2007, and the Year To Date comparison shows 15.6% average sales price decline, or 1.3% 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 December 2007: 442
SFH Listings in December 2008: 409
Decrease: 7.5%

SFH Listings Y.T.D. 2007: 11,131
SFH Listings Y.T.D. 2008: 8,529
Decrease: 23.4%

SFH Sales December 2007: 224
SFH Sales November 2008: 216
Decrease: 3.6%

SFH Sales Y.T.D. 2007: 3,062
SFH Sales Y.T.D. 2008: 3,082
Increase: 0.006%

SFH Avg. Days on Market Dec. 2007: 81
SFH Avg. Days on Market Dec. 2008: 73

SFH Avg. Days on Market Y.T.D. 2007: 77
SFH Avg. Days on Market Y.T.D. 2008: 80

SFH Avg. Sales Price Dec. 2007: $244,897
SFH Avg. Sales Price Nov. 2008: $173,343
Decrease: 29.3%

SFH Avg. Sales Price Y.T.D. 2007: $250,286
SFH Avg. Sales Price Y.T.D. 2008: $211,342
Decrease: 15.6%