Ann Arbor, Washtenaw County July 2007 Market Reports

Wow, for 2 straight months now, the amount of homes listed in Washtenaw County, including Ann Arbor, MI has declined. That is great news. The Pfizer homes that are listed are selling first. Why? As I have posted for months now, they had the benefit of a "loss on sale" clause. So those sellers could price their homes the lowest in the subdivision and those homes are selling the fastest.

Case in point, I closed on a home purchased my Pfizer employees for 512,000 in Sept 2006, and my buyers were able to get the home for 425,000.

The average list price for July, for all the homes in Washtenaw County was $270,870, up 1% from July of 2006. This includes data for Saline, Dexter, Chelsea, Milan, Whitmore Lake and Ypsilanti, MI. More great news !!

The average sales price for homes in Washtenaw County was $264,404. in July. That is up over 1.5% compared to July 2006. More great news !!

This last chart is the number of listings to sales. We added another 2.95 months to the inventory. However, at this point this data does not weed out the re-listings for a new MLS number or the sellers changing agents.

So although not a glowing report, an improving report. I've got my fingers crossed. We can not control the market, but we can and must work in it.

Market data compiled from the Ann Arbor Board of Realtors data, and the hard work of Big House Data, LLC.

To search for all homes in Washtenaw County, this is the best site. NOW is a great time to buy, who knows with the fallout our of sub-prime lending and stated loans what is going to happen. So take advantage of the current market conditions.