The good news for this month, and a new, positive trend year to date is (finally) in the category of average sales price for Single Family Homes in the Ann Arbor area.
Average sales prices for May 2009 were up by 8.7% over May 2008.
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 May 2008: 886
SFH Listings in May 2009: 696
SFH Sales May 2008: 303
SFH Sales May 2009: 233
SFH Sales Year to Date 2009: 1,001
SFH Sales Year to Date 2008: 1,074
SFH Avg. Sales Price May 2008: $217,849
SFH Avg. Sales Price May 2009: $236,897
SFH Avg. Sales Price Y.T.D. 2008: $216,882
SFH Avg. Sales Price Y.T.D. 2009: $170,973
A single family home is a more expensive type of home. The owner has to bear all the expenses, such as maintenance and repair costs of interior, exterior and everything that comes in between. The recreational amenities are often lacking, such as pools and playgrounds and if it is found in some single-detached homes, their owners have to pay a homeowners fee.
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