It's not a pretty picture. Ann Arbor Single Family Home average sales prices are down by almost 30% from November 2007, and the Year To Date comparison shows 15.6% average sales price decline, or 1.3% 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 December 2007: 442
SFH Listings in December 2008: 409
Decrease: 7.5%
SFH Listings Y.T.D. 2007: 11,131
SFH Listings Y.T.D. 2008: 8,529
Decrease: 23.4%
SFH Sales December 2007: 224
SFH Sales November 2008: 216
Decrease: 3.6%
SFH Sales Y.T.D. 2007: 3,062
SFH Sales Y.T.D. 2008: 3,082
Increase: 0.006%
SFH Avg. Days on Market Dec. 2007: 81
SFH Avg. Days on Market Dec. 2008: 73
SFH Avg. Days on Market Y.T.D. 2007: 77
SFH Avg. Days on Market Y.T.D. 2008: 80
SFH Avg. Sales Price Dec. 2007: $244,897
SFH Avg. Sales Price Nov. 2008: $173,343
Decrease: 29.3%
SFH Avg. Sales Price Y.T.D. 2007: $250,286
SFH Avg. Sales Price Y.T.D. 2008: $211,342
Decrease: 15.6%
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