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%

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