February 2010 Ann Arbor Home Sales Market Report

Good Bye 2009, Hello Spring and an early Spring market boost for Ann Arbor, Michigan Home sales. Our positive sales trends continued in February.

FIRST: In February 2010, sales in units, of single family homes were up by 23% over February 2009. This marks four 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%

SECOND: The average sales price for Single Family Homes continues to rise over the same time period last year. In February 2010, ASP was up by 1.7% over February 2009. If my calculations are correct, since October 2009, when the average sales price for the year was a -15.5%, there has been an improvement of +25.3% in the average sales price of homes.

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 February 2009: 514
SFH Listings in Febrary 2010: 514

SFH Sales February 2009: 135
SFH Sales February 2010: 166
Increase: 22.9%

SFH Sales Y.T.D. 2009: 288
SFH Sales Y.T.D. 2010: 331
Increase: 14.9%

SFH Avg. Sales Price February 2009: $164,106
SFH Avg. Sales Price February 2010: $167,049
Increase: 1.7%

SFH Avg. Sales Price Y.T.D. 2009: $157,673
SFH Avg. Sales Price Y.T.D. 2010: $166,418
Increase: 5.5%