What is happening in the Ann Arbor Real Estate market this year?
The Ann Arbor Area board of Realtors released the market data yesterday for the Ann Arbor area. It shows a year over year comparison from April 2011 to April 2012.
April sales statistics show impressive increase in residential sales price and a rise in vacant land sales.
The average sale price of residential real estate in the Ann Arbor area is up 23 percent, according to data released by the Ann Arbor Area Board of Realtors. The average sale price for April 2012 was $210,723, compared to $171,593 for April 2011.
Market activity has been brisk and inventory is low in the Ann Arbor market area. which tends to drive prices up. Realtors report multiple offers on some properties, with homes in good condition selling within days of listing, often at or above the listing price.
Sales of all property types are comparable to 2011, with sales of vacant land the notable exception. The statistics show 64 transactions for vacant land year-to-date, compared to 30 at this time last year, paving the way for an increase in new construction.
See the graph below for a comparison of home sales in 2011 and 2012.
The Ravines Subdivision is located in Ann Arbor, Michigan between Scio Church Rd and W. Liberty. Located in Scio Township and walking distance to the Liberty Sports Complex, World Wide Soccer, A2Ice Cube and shopping.
The schools children attend are Dicken Elementary, Slauson Middle School and Pioneer High School, all are served by buses. The Ravines was built by Wexford Home Builders between 1998-2001 and has aprox 101 home sites.
The one thing I love about the Ravines is the 3 Ac park, tennis courts, and ball field. At the entrance of the subdivision you will find a gorgeous gazebo surrounded by water. Many of the home-sites back to a nature preserve, ponds and walk-out or day-light basements.
If you are a seller who has been pondering selling and wondering what your Ann Arbor home is worth, contact us today for a thorough Comparative Market Analysis. Pricing a home correctly is THE most important real estate activity I do.
Good news for Ann Arbor Area homebuyers buying a home after May 1st.
Yesterday the Michigan legislature passed and it was signed by Governor Rick Snyder to bill that extends the filing of your homestead exemption in Michigan. Up until yesterday if you were buying a home in Michigan, you had to file your homestead exemption by May 1st.
When is our busy home buying season in Michigan ? Duh summer….So many buyers had to wait a year to file if the home was NOT already homesteaded.
The new law, Senate Bill 349 affords a home buyer to file twice a year before June 1st or on November 1st. The other part of the law that is great for Ann Arbor Area home buyers is that if a seller lost their home in a foreclosure the homestead exemption on that property will REMAIN on the property.
Thinking about buying a home in Ann Arbor, start your Ann Arbor home search here with a direct Ann Arbor Area MLS feed, so the data is accurate. Come on I know you are tired of finding the homes for sale on Zillow, Trulia and Realtor.com are already sold.
Regardless, inventory is low, so be ready to write when you find the house you love.
Ann Arbor Home prices are going up. And we are SHORT on inventory. We are seeing multiple offers written on the homes and condos priced right and in great showing condition.
If you are thinking of selling your Ann Arbor Area, (Saline, Dexter, Chelsea, Ypsilanti, Milan) home give us a call. 734-926-9797.
5887 E. Silo Ridge in Ann Arborwith Saline Schools is on the market and looking for a new buyer. This is a gorgeous, updated home with much attention to detail. The homeowner is an architect and remodeled the home to maximize space and light, and designed it for modern living.
Some of the features that enhance this house are:
This is a premier, stable neighborhood.
Only a small number of houses are ever available in Silo Ridge and they move FAST
Completely Remodeled
Pergo throughout the first floor
Mudroom to keep kids coats and book bags out of the way
Maple Cabinets with lots of drawers
Granite Counter-tops
Stainless dishwasher, refrigerator, microwave
Formal dining and living room
Great size closets with shelving
Fresh paint
Finished lower level, neat as a pin
New dishwasher
New roof in April 2012, with 10 year transferable warranty.
New furnace in late 2008; air duct cleaning in 2012 (by Sears.)
New tear-out asphalt driveway in late 2010.
New granite and food disposer in April 2012.
New windows in 2010 and 2011 with transferable warranties.
If you are buying a home in Saline Schools this is a prime location, sub and house. New walking trail all the way to Ann Arbor and Saline Recreation Center.
1628 Broadway in Ann Arbor, Michigan is for sale and is located in the Broadway Historical District. This home has 2895 square feet of living space with gorgeous backyard and gardens. A perfect Ann Arbor neighborhood awaits you.
Walk to U of Michigan hospitals. It is on a large city lot of 400 X 140. One of the nice amenities is that it has an attached building which would be perfect for a art studio, or private office space. Finished basement with its own fireplace.
When you are considering a home to buy in Ann Arbor, 1628 Broadway is a fantastic opportunity and location.
The Ann Arbor Area board of Realtors released the market data yesterday for the Ann Arbor area. It shows a year over year comparison from April 2011 to April 2012.
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