Usually, when the Ann Arbor Board of Realtors releases their monthly sales report, it is accompanied by a cover letter which attempts to find some kind of silver lining in what has been some consistently poor news. Well, anyway, today the report was released without a cover letter. I'm not quite sure how to interpret this. Needless to say, the same trend is continuing for September, as it has been for quite some time. Listings are down, sales (in units) are flat, and the average sales price continues to drop at just below 1.5% per month.
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 September 2007: 762
SFH Listings in September 2008: 633
Decrease: 17%
SFH Listings Y.T.D. 2007: 9,298
SFH Listings Y.T.D. 2008: 7,021
Decrease: 24.5%
SFH Sales September 2007: 258
SFH Sales September 2008: 244
Decrease: 5.5%
SFH Sales Y.T.D. 2007: 2,388
SFH Sales Y.T.D. 2008: 2,398
Increase: 0.006%
SFH Avg. Days on Market Sep. 2007: 74
SFH Avg. Days on Market Sep. 2008: 80
SFH Avg. Days on Market Y.T.D. 2007: 77
SFH Avg. Days on Market Y.T.D. 2008: 76
SFH Avg. Sales Price Sep. 2007: $234,233
SFH Avg. Sales Price Sep. 2008: $188,744
Decrease: 19.5%
SFH Avg. Sales Price Y.T.D. 2007: $252,724
SFH Avg. Sales Price Y.T.D. 2008: $220,099
Decrease: 13%
The Bundesen Team at Real Estate One. Ann Arbor Real Estate information.
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