Ann Arbor Michigan Real Estate Statistics: May 2009 Ann Arbor Housing Picture Improving
May 2009 was certainly an exciting month for Ann Arbor Real Estate!
The Monthly Sales Statistics are in from Ann Arbor Area Realtor Association. The news is encouraging!
Sales figures show 233 residential units sold compared to 303 in 2008. The strong sales numbers for April have not yet translated into a consistent upward trend; however, the average residential sale price is up over last year by almost 9%. Low inventory, reports of multiple offers, and sale prices above list price are all good indicators that the market is moving in the right direction. Naturally of course, the $8,000 first time homebuyer tax credit is an added bonus and incentive for buyers to buy now! Also, MLive.com discusses Green Building – an issue which keeps coming to the decision making table.
In year to date figures released 2008 had 1074 residential properties and 2009 has an impressive 1001. This is not far different from the previous year meaning that the trend is optimistic. By the end of the year it is expected that a strong upward trend will be revealed as buyers take advantage of market conditions.
See the attached document for more detailed sales data for May 2009.
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June 22nd, 2009 at 8:19 PM
[...] The full release contains a boat load of useful information including graphical representation of data. One graph in particular is of interest – entitled “Michigan Residential Building Permits” showing the sharp decline of new permits being issued between 2006 and 2009. With the level of inventory available for purchase at the moment this is to be expected. After all buyers have the best opportunity for decades to purchase the home of their dreams at a great price! [...]
June 29th, 2009 at 9:02 AM
[...] The most exciting news however is that Existing-home sales in the Midwest jumped 9.0% in May. Read our blog post with data from the Ann Arbor Realtors Association. [...]