Kathy Toth of Keller Williams Realty presents:
The Ann Arbor Real Estate Podcast

November 2008

This month’s edition covers Ann Arbor real estate market activity and then we discuss four proven strategies for getting the most out of today’s market!

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This data is from the Ann Arbor Area Board of Realtors

• Unit sales were up 31% over last year.
• Median sales price is down almost 16% from Oct 07 vs. 08 or an average drop of 1.06% per month.
  Condo and residential sales always drop because of seasonality at this time of the year.

Condo Listings in October   :  Decrease: 13.7%
October 2007: 169
October 2008: 146

Condo Listings Year To Date  :  Decrease: 17.6%
Y.T.D. 2007: 2,421
Y.T.D. 2008: 1,753

Condo Sales in October :  Increase: 31%
October 2007: 42
October 2008: 55

Condo Sales Year To Date  :  Decrease: 7.4%
Y.T.D. 2007: 574
Y.T.D. 2008: 532

Condo Average Days on Market October
October 2007: 90
October 2008: 115

Condo Average Days on Market Year To Date
Y.T.D. 2007: 86
Y.T.D. 2008: 165
Condos are taking much longer to sell this year

Condo Median Sales Price October  :  Decrease: 15.9%
October 2007: $160,500
October 2008: $135,000

Condo Median Sales Price Year To Date  :  Decrease: 10.6%
Y.T.D. 2007: $159,000
Y.T.D. 2008: $142,250
Condos prices have dropped

The data above reflects the sales of foreclosures and short sales bringing down prices.  To see different pockets and neighborhood data, CONTACT US for specifics and Ann Arbor micro market knowledge.

We have the resources to give you THE advantage.  Call our Ann Arbor Buyers Agents to discuss further and then look at our Frequently Asked Questions.  Waiting on the sidelines may cost if rates go up.

Check out residential historical graphs of Ann Arbor, Washtenaw, average prices and days on market.

Look at the full report from the Ann Arbor Area Board of Realtors.

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In spite of all the doom and gloom you may be hearing we are still helping families move and we are here to take care of you and your friends Info@KathyToth.com

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Ann Arbor Area Board of REALTORS® MLS Sales Report

Listen as Kathy interprets the sales data:

This is THE best time to buy real estate in South East Michigan, let alone Ann Arbor real estate.  Deals are still here. Market fundamentals are still strong for long term appreciation.  Sound mortgage products are still available from reputable lenders.

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