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)!.

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.

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