Monday, November 10, 2008

October 2008 Ann Arbor Home Sales Report

Good News: Sales, in units, are up over a year ago, and are flat year to date. Bad News: Average sales price is down over 20% from October 2007, and YTD comparison shows 13.7% average sales price decline.

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 October 2007: 776
SFH Listings in October 2008: 655
Decrease: 16.6%

SFH Listings Y.T.D. 2007: 10,069
SFH Listings Y.T.D. 2008: 7,677
Decrease: 25.8%

SFH Sales October 2007: 232
SFH Sales October 2008: 249
Increase: 7.3%

SFH Sales Y.T.D. 2007: 2,610
SFH Sales Y.T.D. 2008: 2,648
Increase: 0.014%

SFH Avg. Days on Market Oct. 2007: 80
SFH Avg. Days on Market Oct. 2008: 70

SFH Avg. Days on Market Y.T.D. 2007: 77
SFH Avg. Days on Market Y.T.D. 2008: 81

SFH Avg. Sales Price Oct. 2007: $233,858
SFH Avg. Sales Price Oct. 2008: $186,324
Decrease: 20.4%

SFH Avg. Sales Price Y.T.D. 2007: $251,128
SFH Avg. Sales Price Y.T.D. 2008: $216,833
Decrease: 13.7%

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