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
SFH Sales Y.T.D. 2009: 505
SFH Sales Y.T.D. 2010: 588
SFH Avg. Sales Price March 2009: $150,263
SFH Avg. Sales Price March 2010: $162,740
SFH Avg. Sales Price Y.T.D. 2009: $154,015
SFH Avg. Sales Price Y.T.D. 2010: $164,600