Where is Ann Arbor Real Estate Market Headed?

September 6th, 2009 Ann Arbor Real Estate Experts Posted in Ann Arbor Market Statistics | No Comments »

Ann Arbor Area Real Estate Charted Jan. through August 2009

Ann Arbor Board of Realtors organizes our data by search areas by boundaries and schools as pictured below. We do a ton of business with people who are relocating to Ann Arbor, usually coming to work for University of Michigan. Many have never been here. It’s always our pleasure to help others discover this gorgeous city and to show the different areas of Ann Arbor, each having a different feel. It’s important to find the place that feels like home to you.

Neighborhoods are unique so you knowing up to date Ann Arbor Real Estate information about specific areas and trends could be helpful. The Ann Arbor Board breaks down our Ann Arbor Real Estate into thea areas in the map below. Trend lines from Affinity Valuations help us figure out if and when the bottom will hit.

There are 28 Ann Arbor sold homes this year in area 81 with bedrooms ranging from 9 to 2 and baths from 10 to 1 with list prices ranging from $5,900.000 to $185.500 and sold prices from $3,000,000 to $170,000. Average sold price per square feet is $586,078 and average sold price per square feet is $163.93 and the sold price per list price is 92 percent. The trend is prices are up!

There are 39 active homes for sale ranging from $3,200,000 to $159,000 and average list price per square feet of $59.21. The average asking price is $869,482. Below, the green line shows active prices and the yellow is the average sales price. See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. The trend is up for sold units and average sold price (while new listings asking prices and units were up): cross your fingers.

As far as median sold prices go, Aug 08 compared to Aug 09 is about the same with the median asking price down, meaning Sellers appear to be pricing more realistically in this time frame. See sold prices were up 3.8 percent August 08 vs. August 09. Average sold price per square feet are trending up slightly per Affinity Valuations.

Schools are Abbott, Wines or Haisley elementary schools and Forsythe Middle School and Skyline High School. For database on Washtenaw Schools, click on highlighted link
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Search Area 82 Westside of Ann Arbor South of M14 and Main Street is the boundary on the East side.

There are 186 sold Ann Arbor homes this year in area 82 with bedrooms ranging from 6 to 1 and baths from 4 to 1 with list prices ranging from $679.000 to $68.90 and sold prices from $625,000 to $25,000. Average sold price is $225,700 and average sold price per square feet is $147.60 and the average sold price per list price is 95 percent. Prices are down slighlty.

There are 103 active Ann Arbor homes in area 83 vs. 147 active homes for sale last month, now ranging from $1,285,000 to $38,900 and average list price per square feet of $163.40. Below, the green line shows active prices and the yellow is the average sales price. See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. In July the market was somewhat stable as far as units go, since the number of new listings and solds were close. August asking prices and sold prices were down slightly.

As far as median sold prices go, August 08 compared to August 09 is down about 9 percent and asking prices are down slightly, again may be indicating sellers are pricing more realistically in this time frame. Average sold price per square feet trends down per Affinity Valuations.
This area 82 includes desirable west side of Ann Arbor. Schools are Bach, Eberwhite or Haisley for elementary school; Slauson or Forsythe for middle school (depends on location) and usually Pioneer High School.

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Search Area 83 Ann Arbor Southwest Liberty to Main Street.
There are 99 sold Ann Arbor homes this year in area 83 with bedrooms ranging from 5 to 1 and baths from 5 to 1 with list prices ranging from $899.900 to $64.400 and sold prices from $885,828 to $61,000. Average sold price is $311,072 and average sold price per square feet is down from $145.04 to $137.39 and the average sold price per list price is up to 96 percent from 93 percent. Sold prices are trending up slightly.

There are 75 active Ann Arbor homes in area 83 vs. 97 active homes last month for sale ranging from $1,299,000 to $127,000 and average list price per square feet of $154.12. Below, the green line shows active prices and the yellow is the average sales price.See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. In August and July the market was somewhat stable as far as number of Ann Arbor homes go, since the number of new listings and solds were close. The average sold price declined in August compared to July.

As far as median sold prices go, August 08 compared to August 09 are down 25 percent and asking prices are up in this time frame. The trend line of average sold price per square feet is up slighlty per Affinity Valuations.

Elementary schools are Lawton, Bryant-Pattengill and Lakewood and the middle school is either Slauson or Tappan, along with Pioneer High School.

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Search Area 84 Ann Arbor Briarwood to North Stadium

There are 43 sold Ann Arbor homes this year in area 83 with bedrooms ranging from 5 to 2 and baths from 3 to 1 with list prices ranging from $479.900 to $84.900 and sold prices from $479,000 to $80,000. Average sold price is $199,482 and average sold price per square feet is $63.80 with the average sold price per list price up to 95 percent. Annual sold price trend line is up slighlty.

There are 19 vs. 27 active Ann Arbor homes for sale in area 84 ranging from $524,900 to $109,900 and average list price per square feet of $142.23. Below, the green line shows active prices and the yellow is the average sales price. See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of homes sold. In June the market showed stablization as far as units go, since the number of listings sold increased and new lsitings declined. The average sold prices have declined since May.

As far as median sold prices go, August 08 compared to August 09 is up by 12 percent and asking prices are down in this time frame. The annual average price per square feet trend is up in this area too per Affinity Valuations.

Schools are Bryant-Pattengill and Allen for elementary and Tappan or Scarlett for Middle schools and Pioneer or Huron for the high school.

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Search Area 85 Ann Arbor Scarlett and East Pittsfield, bordering Ypsilanti school district as the Eastern border.

There are 99 sold Ann Arbor homes this year in area 85 with bedrooms ranging from 5 to 2 and baths from 3 to 1 with list prices ranging from $299.900 to $34.900 and sold prices from $280,000 to $34,900. Average sold price is $150,346 and average sold price per square feet is $90.86 with the average sold price per list price at 95 percent.

There are 60 vs. 79 active Ann Arbor homes for sale in area 85 ranging from $329,900 to $36,000 and average list price per square feet of $41.20. Below, the green line shows active prices and the yellow is the average sales price.See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. In July the market was becoming stable as far as units go, since the number of new listings and solds were close. The average sold prices went up slightly since July and the number of homes sold went down.

As far as median sold prices go, August 08 compared to August 09 is up 4 percent and asking prices are up dwon. The trend lines indicates sold price per square feet is downward trending from Affinity Valuations.

The schools are Pittsfield, Carpenter, Allen or Mitchell for elementary school and Tappan or Scarlett for middle school, along with Huron High.

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Area 86 Ann Arbor East Geddes and Huron River Drive, North Eastern section of the Ann Arbor schools including Superior township.

There are 58 sold Ann Arbor homes in area 86 this year with bedrooms ranging from 6 to 2 and baths from 6 to 1 with list prices ranging from $1,290,000 to $159.900 and sold prices from $1,150,000 to $140,000. Average sold price is $520,158 and average sold price per square feet is $170.79 with the average sold price per list price at 93 percent.

There are 62 vs. 75 active Ann Arbor homes for sale in area 86 ranging from $2,495,000 to $275,000 and average list price per square feet of $199.12. Below, the green line shows active prices and the yellow is the average sales price.See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. In August the supply of homes declined but te number of solds aslo declined. The average sold prices are about the same as July.
As far as median sold prices go, August 08 compared to August 09 is up 31 percent and asking prices are stable in this time frame. Area 86 average sold price per square feet trend line is flat per Affinty Valuations.

Schools are Allen, Thurston, King, Burns Park, Angell elementary schools. Tappan or Clague are the middle schools, along with Huron High School.

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Search Area 87 North East Ann Arbor and North Campus, walking distance to UM Medical Center, goes East to Dixboro.
There are 64 sold Ann Arbor homes in area 87 this year with bedrooms ranging from 6 to 2 and baths from 4 to 1 with list prices ranging from $965,000 to $128.900 and sold prices from $800,000 to $115,000. Average sold price is $271,023 and average sold price per square feet is $128.88 with the average sold price per list price at 95 percent. The trend line is flat.

There are 50 homes for sale in July vs. 72 active Ann Arbor homes for sale in June ranging from $2,225,000 to $60,000 and average list price per square feet of $153.86 down from $158.21 in June. Below, the green line shows active prices and the yellow is the average sales price.See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. In July the market was becoming stable as far as units go, since the number of new listings and solds were close. Unfortunately, the average sold prices have declined since June.

As far as median sold prices go, August 08 compared to August 09 is down by 11 percent and asking prices are up in this time frame by 1.4 percent. Area 87 sold price per square feet trend line is down slightly per Affinty Valuations.

Schools are Northside, Thurston or Logan for elementary schools, Clague for Middle and Huron High or Skyline depending on location.

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Search Area 88 Ann Arbor Downtown/Burns Park, south of the University and walkable neighborhood.

There are 26 sold Ann Arbor homes in area 88 this year with bedrooms ranging from 6 to 2 and baths from 4 to 1 with list prices ranging from $849,000 to $175.000 and sold prices from $835,000 to $155,000. Average sold price is $429,788 and average sold price per square feet is $191.57 with the average sold price per list price at 97 percent.

There are 30 active Ann Arbor homes in area 88 vs. 40 active homes last month for sale ranging from $1,995,000 to $183,600 and average list price per square feet of $221.68. Below, the green line shows active prices and the yellow is the average sales price.See how volatile the prices have been. The red line shows the number of new listings and the blue is the number of units sold. ISince June the market was becoming stable as far as units go, since the number of new listings and solds were close. The average sold prices declined this month.

As far as median sold prices go, August 08 compared to August 09 is up and asking prices are up in this time frame by 7 percent. Area 88 average sold price per square feet trend line is up per Affinty Valuations.

Schools are Eberwhite, Bach and usually Burns Park for elementary schools. The middle schools are Tappan and Slauson depending on location, along with Pioneer High School.

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Finally a market snapshot which is all Ann Arbor areas combined.

So bottom line, the Ann Arbor home sold prices are down from August 08 to August 09 by 20 percent, while asking prices are up by 1 percent in this time frame. Again Ann Arbor homes are affordable, choices are abundant and low interest rate financing is available.

We all want to know when the market will turn around, so we are tracking the Ann Arbor Real Estate Market activity monthly. Pete Hendershot of Affinity Valuations says, the market has hit bottom. For your Ann Arbor Area home value, click here.

Thanks for the Source: Affinity Valuations, LLC.

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty