Ann Arbor, Washtenaw County Market Reports
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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