Here's the deal. The Nov. 30 deadline for the First Time Home Buyer Tax Credit was a huge shot in the arm for residential Unit sales: An increase of 32% in unit sales over November 2008.
Another definite trend of note is the dramatic increase in the average sales price. It is still in negative territory over 2008, but shows a marked improvement in the last 90 days. The Year to date average sales price drop improved over the past 90 days by a whopping +13.8%. (From -17.8% in August to -15.5% in October; to -4% in November).
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 November 2008: 428
SFH Listings in November 2009: 346
SFH Sales November 2008: 202
SFH Sales November 2009: 268
SFH Sales Year to Date 2008: 2,860
SFH Sales Year to Date 2009: 2,794
SFH Avg. Sales Price November 2008: $183,738
SFH Avg. Sales Price November 2009: $176,543
SFH Avg. Sales Price Y.T.D. 2008: $214,156
SFH Avg. Sales Price Y.T.D. 2009: $182,704