Here are the August 2010 housing stats pulled from the Ann Arbor Area Board of Realtors Multiple List Data.  Check out this link to the the second quarter Case-Shiller reports. The numbers are upbeat, with the major influence being the effects of the tax credits ( Case-Shiller uses a closed sales analysis). However, great prices and low interest rates are also positively influencing the statistics as well. The report does indicate some caution going forward, which makes sense. Note that unlike much of the rest of the country, our listing inventories have fallen rather dramatically (from a peak of nearly 70,000 in 2008 to under 30,000 today), so we do not have the oversupply issues much of the rest of the country has (meaning for once, we are one of the better places to own real estate in the country)!.


SOLDS

AUG ’10 JUL ’10 AUG ’09
School Districts      
Ann Arbor 100 123 138
Chelsea 16 10 10
Dexter 29 18 21
Lincoln 21 28 40
Milan 13 11 14
Saline 25 26 32
Willow Run 15 17 28
Ypsilanti 23 28 51

 

Active listings

One of the interesting facts is that inventory is not down as much as it feels working in the marketplace. According the our local Board of Realtors, the number of active listings is 12% down from one year ago. I know that the number of foreclosures is not what it has been and it doesn’t seem like every other house on the market is a short sale. More privately owned homes are currently on the market – supporting consumer confidence to get back in the market.


# of Listings on Market

AUG ’10 JUL ’10 AUG ’09
School Districts      
Ann Arbor 996 1003 1035
Chelsea 217 221 231
Dexter 315 318 349
Lincoln 348 332 411
Milan 99 104 160
Saline 339 337 391
Willow Run 182 183 263
Ypsilanti 309 297 347

 

Median SOLD Prices

Overall, the statistics that I pulled from the Ann Arbor Area Board of Realtors show a 19% increase in pricing in general over one year ago. From a buyer perspective, there are still great deals as we still have foreclosures, short sales and motivated sellers


Median SOLD Price

AUG ’10 JUL ’10 AUG ’09
School Districts      
Ann Arbor $255,769.00 $348,237.00 $239,694.00
Chelsea $155,769.00 $144,912.00 $174,000.00
Dexter $433,000.00 $188,460.00 $219,000.00
Lincoln $77,250.00 $205,500.00 $124,000.00
Milan $56,512.00 $170,000.00 $100,000.00
Saline $300,000.00 $237,800.00 $226,500.00
Willow Run $63,000.00 $40,000.00 $27,750.00
Ypsilanti $83,980.00 $46,017.00 $82,234.00

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