Wednesday, December 15, 2010

November 2010 Ann Arbor Home Sales Market Report

In November, Ann Arbor Single Family Home sales in units was down by almost 13% as compared to November 2009. The average sales price for Ann Arbor Single Family homes increased by 0.2% over November 2009. Year to date comparison for 2010 vs. 2009 shows a slight increase in unit sales, and an almost identical average sales price.

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 Sales November 2009: 268
SFH Sales November 2010: 236
Decrease: -12.8%

SFH Sales Y.T.D. 2009: 2,794
SFH Sales Y.T.D. 2010: 2,865
Increase: 2.5%

SFH Avg. Sales Price November 2009: $176,543
SFH Avg. Sales Price November 2010: $180,491
Increase: 0.2%

SFH Avg. Sales Price Y.T.D. 2009: $182,704
SFH Avg. Sales Price Y.T.D. 2010: $183,537
Increase: 0.004%

Tuesday, November 23, 2010

More than 2M homes in foreclosure process | Inman News

Please click the article link to Inman News for updated information on the current state of foreclosures in the US.


More than 2M homes in foreclosure process | Inman News

Saturday, November 13, 2010

Ann Arbor Home Sales Average Sales Price Year to Date: 2009 v. 2010

Thursday, November 11, 2010

October 2010 Ann Arbor Area Home Sales Market Report

In October, Ann Arbor Home sales in units was down by almost 23% as compared to October 2009. The average sales price for Ann Arbor Single Family homes declined by 3.1% over October 2009. Year to date comparison for 2010 vs. 2009 shows a slight increase in unit sales, and an almost identical average sales price.

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 Sales October 2009: 277
SFH Sales October 2010: 214
Decrease: -22.8%

SFH Sales Y.T.D. 2009: 2,524
SFH Sales Y.T.D. 2010: 2,628
Increase: 4.1%

SFH Avg. Sales Price October 2009: $172,698
SFH Avg. Sales Price October 2010: $167,382
Decrease: -3.1%

SFH Avg. Sales Price Y.T.D. 2009: $183,426
SFH Avg. Sales Price Y.T.D. 2010: $183,831
Increase: 0.002%

Wednesday, October 20, 2010

The Foreclosure Moratorium in Michigan

Here is a direct quote from the powers that be within the Michigan Association of Realtors on the moratorium's effect (or lack of) for Michigan.


“The Michigan Association of REALTORS has met with experts in the field and state government to discuss recent national developments on foreclosures and their potential impact on our state. That impact, to date, is minimal or non-existent. Michigan is a “non-judicial” foreclosure state, meaning that Michigan’s legal protections for consumers and homeowners do not involve the procedures in question. Valid real estate contracts and mortgages remain enforceable and unchanged. There are no major anticipated legal challenges associated with recent headlines that will have an effect on our state.”

Thursday, October 7, 2010

September 2010 Ann Arbor Home Sales Market Report

Ann Arbor Home sales were flat in September. The average sales price for Ann Arbor home sales, 2010 Year To Date is $462 above 2009. The number of sales in September was up by 1.1% over September 2009.

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 Sales September 2009: 264
SFH Sales September 2010: 267
Increase: 1.1%

SFH Sales Y.T.D. 2009: 2,245
SFH Sales Y.T.D. 2010: 2,413
Increase: 7.5%

SFH Avg. Sales Price September 2009: $183,344
SFH Avg. Sales Price September 2010: $184,965
Increase: 0.008%

SFH Avg. Sales Price Y.T.D. 2009: $184,829
SFH Avg. Sales Price Y.T.D. 2010: $185,291
Increase: 0.002%

Monday, September 13, 2010

August 2010 Ann Arbor Home Sales Market Report

The average sales price for Ann Arbor home sales, 2010 Year To Date is within a scant $500 as compared to the same time period in 2009. The number of sales in August was down by 7.1% over August 2009.

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 Sales August 2009: 282
SFH Sales August 2010: 262
Decrease: (7.1%)

SFH Sales Y.T.D. 2009: 1,976
SFH Sales Y.T.D. 2010: 2,141
Increase: 8.3%

SFH Avg. Sales Price August 2009: $198,121
SFH Avg. Sales Price August 2010: $204,666
Increase: 3.3%

SFH Avg. Sales Price Y.T.D. 2009: $185,028
SFH Avg. Sales Price Y.T.D. 2010: $185,532
Increase: 0.0%

Monday, August 30, 2010

Real Estate Outlook: Good News/ Bad News

There is no sugarcoating the dramatic drop in home sales that coincided with the expiration of the First Time Homebuyers Tax Credit, but there is somewhat of a Silver Lining to the otherwise gloomy outlook. Great values coupled with unprecedented Mortgage Rates still make it a great time to buy.

For a bit more detail, please read this article from Realty Times.

Realty Times - Real Estate Outlook: Mixed Figures

Friday, August 27, 2010

5 Home Tips for Fall


We'll, it's that time of year. Football, kids back in school, and (I hate to say it) preparing for winter. I came across a great article from my friends at Lowe's on the top 5 things you can do to your home in the fall to keep it in tip top shape, and prevent further problems down the road. The 5 are:

1) Clean out gutters
2) Take care of pots & planters
3) Rake leaves
4) Weed & feed lawn
5) Tune up your tools

For more details on each of these, and to learn more, please follow this link:
For Your Clients: Tips for Getting Your Home Ready for Fall

Wednesday, August 18, 2010

Ann Arbor Residential Listing Inventory



The above graph is a visual representation of listing inventory for single family residential homes in the Ann Arbor Michigan area. The Blue line represents 2009, when inventory was relatively stable. The Red line represents 2010, and it is very curios to notice the dramartic change in inventory that coincided with the expiration of the Tax Credit. April 2010 inventory was 732 homes, which dipped to 500 in May.

Monday, August 16, 2010

Realty Times - Real Estate Outlook: Modest Recovery

A bit of light through the clouds in real estate. The Federal Reserve has decreed that the industry is in a "modest" recovery phase. Not great, but better than what we have been going through, and, as my Aunt Loie used to say: "Better than a poke in the eye with a sharp stick."

The top 5 recent trends that have positively impacted the real estate market over the first seven months of 2010 are:

1) GDP is growing
2) Corporations are saving cash (next step is spending)
3) Median home prices in 2/3 of the major markets measured are up 2010 vs. 2009
4) Interest rates are at an all time low.
5) Mortgage applications are UP over the past 4 weeks, after a drop with expiration of the Homebuyer Tax Credit.

For more details, please click the link below to todays Realty Times article, elaborating on this topic.

Realty Times - Real Estate Outlook: Modest Recovery

Thursday, August 12, 2010

July 2010 Ann Arbor Home Sales Report



For the first time in nine months, Ann Arbor home sales, in units are down by (22.5%) over the same time period of July 2009.

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%
March 2010: Sales up by 22%
April 2010: Sales up by 14.2%
May 2010: Sales up by 38.6%
June 2010: Sales up by 12.1%
July 2010: Sales DOWN by -22.5%

Also, the average sales price in July was just (1.7%) below July of 2009.

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 Sales July 2009: 330
SFH Sales July 2010: 256
Decrease: (22.5%)

SFH Sales Y.T.D. 2009: 1,688
SFH Sales Y.T.D. 2010: 1,876
Increase: 11.1%

SFH Avg. Sales Price July 2009: $199,973
SFH Avg. Sales Price July 2010: $196,673
Decrease: -1.7%

SFH Avg. Sales Price Y.T.D. 2009: $182,832
SFH Avg. Sales Price Y.T.D. 2010: $182,860
Increase: 0.0%

Thursday, August 5, 2010

Realty Times - Avoid Common First-Time Buyer Mistakes

If you are in the market to buy your first home, you may have already realized that the process involves many different levels of knowledge and understanding. Chances are many steps of the process are completely foreign to you.

By arming yourself with an arsenal of important questions, as well as with a team of professionals, you are sure to avoid some of the most common first-time homebuyer mistakes.

Please Click the link for the full article from Realty Times.

Realty Times - Avoid Common First-Time Buyer Mistakes

Wednesday, August 4, 2010

Real Estate One Recognized in Realtor Magazine’s Nationwide Top 100

Three of Michigan’s leading real estate companies are featured in Realtor Magazine’s Top 100 Companies of 2009. The list seeks to identify outstanding performances in overall transaction sides, transactions sides per salesperson, and percentage of change from the previous year.

Real Estate One Inc. of Southfield, Michigan edged into the very top of the list at #10, competing with companies more than double its size. Established in 1929, Real Estate One is the largest broker in Michigan, and was the first to have multiple offices, print homes books, develop a digital MLS, and host open houses. The company now operates thirty-two offices in Michigan, and employs nearly fifteen-hundred salespeople, representing over 17,000 transaction sides last year alone. Real Estate One placed #40 on Realtor Magazine’s list of overall real estate sales volume for 2009.

Monday, August 2, 2010

Realty Times - Real Estate Outlook: Sales Jump

New home sales, which had been anemic following the expiration of the tax credit deadlines, bounced back with vigor in June, according to the Commerce Department.

Single family sales jumped by 24 percent seasonally-adjusted basis over May, and were 19 percent above the totals for June 2009.

Please click the link for the full story from Realty Times

Realty Times - Real Estate Outlook: Sales Jump

Friday, July 23, 2010

Ann Arbor Bach Scool District Mid- Year Market Snapshot

Within the Bach School District of Ann Arbor, there have been 22 sales since January 2010. The average sales price was $247,086, or $177.33 per square foot.
Currently, there are 34 homes on the market in the Bach School District with an average list price of $282,891, or $179.74 per square foot.

Thursday, July 15, 2010

Ann Arbor Residential Listings: Mid-Year Snapshot



Very interesting visual on the lising inventory of Single Family Homes. The Blue line represents January - June 2009, and the Red line represents the same period in 2010.

Wednesday, July 14, 2010

Ann Arbor Average Home Sales Price

I've created a visual representation comparing Average Sales Price for Ann Arbor Homes 2009 vs. 2010.



As the graph indicates, the red line, which was the 2009 trend, was fluctating wildly during January - June 2009.

The Blue line represents Average Sales Prices for January - June 2010. As you can see, the trend is positive, consistently growing, and is very encouraging.

During the past four months, the average sales price has risen by over 26%. From $162,740 in March to $205,994 in June 2010

Monday, July 12, 2010

June 2010 Ann Arbor Real Estate Sales Report

No doubt, the Federal Tax Credit continued to boost the overall Ann Arbor Real Estate market in June 2010. Sales in units are UP and Average Sales Price Year to Date is UP. Unit sales were up by 12.1%% over June 2009, marking EIGHT consecutive months of year over year growth.

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%
March 2010: Sales up by 22%
April 2010: Sales up by 14.2%
May 2010: Sales up by 38.6%
June 2010: Sales up by 12.1%

Also, after a dramatic drop of -21.1% in Average Sales Price in May 2010 over May of 2009, the average sales price in June was just 0.04% below June of 2009.

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 Sales June 2009: 346
SFH Sales June 2010: 388
Increase: 12.1%

SFH Sales Y.T.D. 2009: 1,350
SFH Sales Y.T.D. 2010: 1,614
Increase: 19.5%

SFH Avg. Sales Price June 2009: $206,738
SFH Avg. Sales Price June 2010: $205,994
Decrease: -0.04%

SFH Avg. Sales Price Y.T.D. 2009: $178,431
SFH Avg. Sales Price Y.T.D. 2010: $180,760
Increase: 1.3%

Thursday, July 8, 2010

MICHIGAN: Help For At-Risk Michigan Homeowners (2010-07-07)

Governor Granholm says there will be more help soon for some families at risk of losing their homes to foreclosure.

Michigan will use $154 million in federal funding to help homeowners on unemployment, or who have missed a payment or lost family income because of illness or a change in job status.

"There are few other states as hard hit as Michigan has been as a result of the challenges to our automotive economy," says Granholm, "and we are very grateful for the opportunity to relieve the stress, potentially, of up to 17 thousand homeowners in Michigan."

But the demand for help is much bigger, with tens of thousands of homeowners possibly facing foreclosure. Starting Monday, the assistance will be awarded on a first-come, first-served basis. (Website: www.michigan.gov/hardesthit)

MICHIGAN: Help For At-Risk Michigan Homeowners (2010-07-07)

Tuesday, July 6, 2010

REO inventory swells again | Inman News


The number of homeowners who were 90 days or more late on their mortgages or in the foreclosure process continued to ease during May, but inventories of bank-owned properties grew for the fifth month in a row, according to the latest statistics collected from loan servicers by Lender Processing Services. Please click the link for the detailed story.

REO inventory swells again | Inman News

Friday, July 2, 2010

FREE Online Home Energy Audit From DTE

I'm going to give a big shout out to DTE for taking proactive steps to help their customers learn how to save energy. There are lots of great tools on their website to help you get educated.

For example, MyEnergy Analyzer is an interactive tool that helps you easily evaluate how you use energy in your home and where you can save.

When you sign in, MyEnergy Analyzer pulls data from your bill history to give you a custom analysis. Please enable/accept cookies to get the optimal value from this tool.

* Get customized energy savings tips - find out where your home energy dollars are being spent
* Use the interactive cost calculators to determine how much you're spending to run appliances and equipment
* Run 'what-if' tests to see which improvements will give you the best return on investment

If you don't want to sign in, you can use the Home Energy Center instead to get generic advice.

* Compare your energy use with that of other typical homes
* Get an estimated breakdown of where your energy dollars are being spent
* Find general ways to reduce energy costs each month

Friday, June 11, 2010

May 2010 Ann Arbor Home Sales Market Report

Ann Arbor Real Estate sales trends are mixed in the month of May 2010. Number of listings are DOWN, sales in units are UP, Average Sales Price Month Over Month is DOWN, and Average Sales Price Year to Date is UP.

FIRST: Listing inventory is down by 28.2% over May 2009.

SECOND: In May 2010, sales in units, of single family homes were up by 38.6% over May 2009. This marks SEVEN consecutive months of year over year sales growth:

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%
March 2010: Sales up by 22%
April 2010: Sales up by 14.2%
May 2010: Sales up by 38.6%

THIRD: The average sales price for Single Family Homes took a dramatic drop of -21.1% over May of 2009. This cuts against ASP increases over the previous 60 days.

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 Sales May 2009: 233
SFH Sales May 2010: 323
Increase: 38.6%

SFH Sales Y.T.D. 2009: 1,001
SFH Sales Y.T.D. 2010: 1,223
Increase: 22.1%

SFH Avg. Sales Price May 2009: $236,897
SFH Avg. Sales Price May 2010: $186,970
Decrease: -21.1%

SFH Avg. Sales Price Y.T.D. 2009: $170,973
SFH Avg. Sales Price Y.T.D. 2010: $173,213
Increase: 1.3%

Thursday, June 10, 2010

Extend Home Closing Deadline For Tax Credit: Senator Reid - CNBC

Senate Majority leader Harry Reid (D-Nev.) is offering an amendment to the American Jobs and Closing Tax Loopholes Act of 2010, to extend the closing deadline to September 30th. Again, no new buying opportunities here, just a longer period to close.
Clickon the headline for link to the full story on CNBC.

Extend Home Closing Deadline For Tax Credit: Senator Reid - CNBC

Friday, May 21, 2010

Home Buyer Credit Expiration Sinks Mortgage Applications by 27% - Business - The Atlantic


Home Buyer Credit Expiration Sinks Mortgage Applications by 27% - Business - The Atlantic

Anyone who thought the housing market might be able to continue its positive trend without the home buyer credit got a swift dose of reality today. The Mortgage Bankers Association reported that mortgage applications for home purchases fell off a cliff, declining by 27% last week to a level not seen since May 1997. Clearly, the housing market is already missing the home buyer credit.

Please click the headline link for the full article.

Friday, May 7, 2010

April 2010 Ann Arbor Home Sales Market Report

Ann Arbor Real Estate sales trends continue to trend positively in April, and for the past six consecutive months. The number of listings are up by 10.4%, the number of sales in units are up by a 14.2%, and best of all, the average sales price is up 20% month over month up by 11.4% Year to Date (2010 vs. 2009).

FIRST: Listing inventory is up by 10.4%, from 663 Units in April 2009, to 732 Units in April 2010.

SECOND: In April 2010, sales in units, of single family homes were up by 14.2% over April 2009. This marks SIX consecutive months of year over year sales growth:

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%
March 2010: Sales up by 22%.
April 2010: Sales up by 14.2%

THIRD: The average sales price for Single Family Homes continues to rise over the same time period last year. In March 2010, ASP was up by 7.7% over March 2009. In April, the Average Sales price over April 2009 was +20%.

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 Sales April 2009: 260
SFH Sales April 2010: 297
Increase: 14.2%

SFH Sales Y.T.D. 2009: 766
SFH Sales Y.T.D. 2010: 890
Increase: 16.1%

SFH Avg. Sales Price April 2009: $145,611
SFH Avg. Sales Price April 2010: $175,989
Increase: 20%

SFH Avg. Sales Price Y.T.D. 2009: $151,111
SFH Avg. Sales Price Y.T.D. 2010: $168,357
Increase: 11.4%

Wednesday, April 28, 2010

As Dry as 60 Year Old Lead Based Paint













Here are three exciting things you can do on a Wednesday morning:

1) Watch (lead based or non-lead based) paint dry.
2) Read a Blog post about the new home buying rules regarding lead based paint.
3) WRITE a Blog post about the new home buying rules regarding lead based paint.

So, without further adieu, here are some new requirements for purchasing a home being financed by an FHA loan:

If the house was built in 1950 or earlier, the house MUST be tested for the presence of lead based paint regardless if there is any evidence of defective paint surfaces, either visible to the buyer or home inspector. Buyers can count on this adding about $200 - $300 over and above the cost of the standard home inspection. This test must be done by a licensed professional. All test results, positive or negative are to be shared with the buyer. If lead based paint is found, it must be remediated prior to closing, again by a licensed professional. I'm no expert, but I'm guessing this will cost in the hundreds, if not thousands of dollars.

If the house was built between 1951 - 1978, ANY "defective" paint notated by the FHA appraiser must be tested. All test results are to be shared with the buyer(s). Any defective paint (i.e. chipping, peeling, positive for lead, etc.) whether lead based or not, must be remediated by a licensed professional.

If the house was built between 1979 and today, no testing is required, because they are certain that no lead based paint was ever used to paint any home after the original rules went into effect.

Now, for those of you still awake after this scintillating post, I invite you to jump over to this other website I discovered: www.watching-paint-dry.com

Friday, April 16, 2010

Home Buyer Tax Credit Update

The Ann Arbor Area Board of Realtors staff has contacted the Michigan Association of REALTORS® (MAR) Legal Hotline to help clarify questions from members:

What constitutes a binding contract for home buyers to receive the Tax Credit? Does it need Bank Approval first?

The answer from MAR Legal Hotline is that the contract must be accepted by both the buyer and seller. If there is a third party involved (i.e., short sale), the bank DOES NOT need to approve the sale prior to the April 30, 2010 deadline.

Friday, April 9, 2010

March 2010 Ann Arbor Home Sales Report

I wish I could find those big fancy green UP Arrows that some of those financial sites use to show upward trends, because the Ann Arbor Real Estate sales trends continue in positive territory for the month of March. The number of listings are up by 3.7%, the number of sales in units are up by a substantial 22%, and best of all, the average sales price is up 7.7% month over month, and Year to Date by 6.8%.

FIRST: Listing inventory is up by 3.7%, from 707 Units in March 2009, to 733 Units in March 2010.

SECOND: In March 2010, sales in units, of single family homes were up by 22% over March 2009. This marks FIVE consecutive months of year over year sales growth:

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%
March 2010: Sales up by 22%.

THIRD: The average sales price for Single Family Homes continues to rise over the same time period last year. In March 2010, ASP was up by 7.7% over March 2009. If my calculations are correct, since October 2009, when the average sales price for the year was a -15.5%, there has been an improvement of +24.3% in the average sales price of homes.

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 Sales March 2009: 209
SFH Sales March 2010: 255
Increase: 22%

SFH Sales Y.T.D. 2009: 505
SFH Sales Y.T.D. 2010: 588
Increase: 16.4%

SFH Avg. Sales Price March 2009: $150,263
SFH Avg. Sales Price March 2010: $162,740
Increase: 7.7%

SFH Avg. Sales Price Y.T.D. 2009: $154,015
SFH Avg. Sales Price Y.T.D. 2010: $164,600
Increase: 6.8%

Thursday, April 1, 2010

April Ann Arbor Market Snapshot: Active Listings for Single Family Homes

The Ann Arbor Real Estate market is very busy for a number of good reasons. Lot's of great, new inventory is coming on the market every day. Here's just a brief snapshot of homes currently for sale in the Ann Arbor School District, broken down by price range.

Number On Market and Price Range

12 for sale at less than $100,000
145 for sale between $101K - $200K
144 for sale between $201K - $300K
50 for sale $301K - $400K
151 for sale $401 K and above

Lot's of great homes to choose from, and it's not too late to get under contract before the tax credit expires. If you'd like more information on specific homes in your price range, Mary and I would love the opportunity to help you find a great home. If' you'd like to get in the market, please get in touch with one of us today.

Friday, March 26, 2010

REALTOR® Magazine - Foreclosure Prevention Plan Announced

President Obama is announcing an expansion of foreclosure-prevent tactics, including a plan to reduce principal balances and special aid for unemployed borrowers.The bulk of the responsibility for carrying out the new program will be assigned to the Federal Housing Administration, which will insure lenders against part of the losses.The plan asks banks to write down loan balances to less than the value of the home. If there is both a first and second mortgage, the combined total would have to be no more than 115 percent of the home’s value.

For the complete article, please click the following link

REALTOR® Magazine-Daily News-New Foreclosure Prevention Plan Announced

Sunday, March 14, 2010

Real Estate One Wins Most Innovative Brokerage Award

From our President, Dan Elsea

We won a really great award last week, a tribute to all of your collective efforts. As you know we are a member of The Leading Real Estate Companies of the World, the largest broker network in the country (larger than any franchise system - Re/Max's numbers only compare to the larger franchises). It is a prestigious national and international network of the largest brokers in the country representing about 1/3 of all real estate transactions. Last week at their annual convention, we received the first ever Most Innovative Brokerage award for our efforts in providing the strongest current market education and the most creative property marketing!

Wednesday, March 10, 2010

February 2010 Ann Arbor Home Sales Market Report

Good Bye 2009, Hello Spring and an early Spring market boost for Ann Arbor, Michigan Home sales. Our positive sales trends continued in February.

FIRST: In February 2010, sales in units, of single family homes were up by 23% over February 2009. This marks four consecutive months of year over year sales growth:

November 2009: Sales up by 32%
December 2009: Sales up by 6%
January 2010: Sales up by 7.8%
February 2010: Sales up by 23%

SECOND: The average sales price for Single Family Homes continues to rise over the same time period last year. In February 2010, ASP was up by 1.7% over February 2009. If my calculations are correct, since October 2009, when the average sales price for the year was a -15.5%, there has been an improvement of +25.3% in the average sales price of homes.

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 February 2009: 514
SFH Listings in Febrary 2010: 514

SFH Sales February 2009: 135
SFH Sales February 2010: 166
Increase: 22.9%

SFH Sales Y.T.D. 2009: 288
SFH Sales Y.T.D. 2010: 331
Increase: 14.9%

SFH Avg. Sales Price February 2009: $164,106
SFH Avg. Sales Price February 2010: $167,049
Increase: 1.7%

SFH Avg. Sales Price Y.T.D. 2009: $157,673
SFH Avg. Sales Price Y.T.D. 2010: $166,418
Increase: 5.5%

Wednesday, February 10, 2010

Ann Arbor Real Estate Sales Report for January 2010



The January 2010 Ann Arbor real estate sales report continues to show encouraging trends:

FIRST: The year over year increase in unit sales over the past 90 days. In November, there was an increase of 32% in unit sales over November 2008. In December, that increase, although lower, was still encouraging at a +6% over December 2008. In January, the trend has continued with an increase in unit sales of 7.8% over January 2009.

SECOND: The average sales price for Single Family Homes continues to show an increase over the same time period last year. In January 2010, the average sales price was up by 8% over January 2009. If my calculations are correct, since October 2009, when the average sales price for the year was a -15.5%, there has been an improvement of +23.5% in the average sales price of homes.

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 January 2009: 615
SFH Listings in January 2010: 562
Decrease: 8.7%

SFH Sales January 2009: 152
SFH Sales January 2010: 164
Increase: 7.8%

SFH Avg. Sales Price January 2009: $153,486
SFH Avg. Sales Price January 2010: $165,842
Increase: 8.0%

Tuesday, January 12, 2010

December 2009 Ann Arbor Home Sales Report

The year-end Ann Arbor real estate sales report shows some encouraging trends:

FIRST: The increase in unit sales over the past 60 days. In November, there was an increase of 32% in unit sales over November 2008. In December, that increase, although lower, was still encouraging at a +6% over December 2008.

SECOND: The average sales price for Single Family Homes was higher in December 2009 over December 2008 by +2.7%. Year to Date, the average sales price measures in at an almost -14%; but during the 4th Quarter of 2009 the average sales price went from a -15.5% in October to a +2.7% mark in December. An improvement of +18.2%.

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 2008: 409
SFH Listings in December 2009: 359
Decrease: 22.3%

SFH Sales December 2008: 216
SFH Sales December 2009: 229
Increase: 6%

SFH Sales Year to Date 2008: 3,082
SFH Sales Year to Date 2009: 3,027
Decrease: 1.8%

SFH Avg. Sales Price December 2008: $173,343
SFH Avg. Sales Price December 2009: $178,059
Increase: 2.7%

SFH Avg. Sales Price Y.T.D. 2008: $211,342
SFH Avg. Sales Price Y.T.D. 2009: $182,287
Decrease: 13.8%