Below are the market reports with data from the Ann Arbor Area Board of Realtors and compiled my by my friend Todd Waller, of Big House Data.
A few things to point out from a historical perspective from 2005 to 2008:
Average list prices: Average Sale Price Average Days on Market New Listings
2005 $286,800. $233,238. 91 628
2006 $274,919 $226,707. 93 793
2007 $283,039. $247,108. 99 1373
2008 $ 255,827. $232,250. 103 727
Average List price is down 9.5% from February 2007 to February 2008.
Average Sales price is down 6% from February 2007 to February 2008.
Number of closed sales is down 9% compared to February 2007 to February 2008.
Results: For sellers you must be very competitive. Short sales and foreclosures are selling, so are homes priced “below market value” and in excellent condition.
For Buyers: No one knows when the market will bottom out. NOT ME ! No one, so don’t wait too long to take advantage of the best priced homes in Ann Arbor and Washtenaw County.
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Buying or selling a home in Ann Arbor? (or anywhere in Washtenaw County) our goal is to help you with the best resources available. TEAM approach with 6 Buyer Agents 734-216-2822 Missy@MissyCaulk.com
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Missy
It would sem things are getting a lot better market wise by you; would you not think so?
Hope all is well.
Sincerely
Tom Braatz
Missy~You have done a great job on your market reports. Excellent information and so helpful to your consumers. Enjoy your day!
I looks like the sales price to list price has improved another indication that the well priced properties are selling.
Missy, I am very happy to see this. I know Todd takes the rentals out; so important to do!! It took till -08 for the board to realize how they skewed the numbers before.
Missy- Those charts are great! I really like the way they look. I have a hard time with market reports!