Wednesday, June 11, 2008

Good News! Get Your Ann Arbor Real Estate Good News Here!

Real estate agents complain that the newspapers only print bad news about the market. Well the fact is that recently, that is all there has been. We're happy to note a dramatic POSITVE trend in the market during the month of May that we hope is a sign of a strong market turnaround. Number of listings are down, and number of sales are up by over 25% May 2007 - May 2008, and number of sales Year to Date are up over 16% in 2008.

Here's the latest snapshot from the Ann Arbor Board of Realtors. These statistics are for Single Family Homes (SFH) Residential, and do not include condominiums:

SFH Listings in May 2007: 1,368
SFH Listings in May 2008: 886
Decrease: 35%

SFH Listings Y.T.D. 2007: 5,313
SFH Listings Y.T.D. 2008: 4,118
Decrease: 22.5%

SFH Sales May 2007: 242
SFH Sales May 2008: 303
Increase: 25.2%

SFH Sales Y.T.D. 2007: 1,003
SFH Sales Y.T.D. 2008: 1,074
Increase: 16.2%

SFH Avg. Days on Market May 2007: 80
SFH Avg. Days on Market May 2008: 86

SFH Avg. Days on Market Y.T.D. 2007: 86
SFH Avg. Days on Market Y.T.D. 2008: 88

SFH Avg. Sales Price May 2007: $244,404
SFH Avg. Sales Price May 2008: $217,849
Decrease: 10.9%

SFH Avg. Sales Price Y.T.D. 2007: $239,028
SFH Avg. Sales Price Y.T.D. 2008: $216,882
Decrease: 9.3%

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