Prices are down and months supply is down from 13 to 12 months. Based on information supplied by the Ann Arbor Board of Realtors, the Dexter residential supply of homes is at one year. It would take about 12 months for all the homes to sell if no other homes came on the market. Supply has increased since January’s 9 months, which is typical for our seasonal market. Anything over 7 months supply is a buyers market.

The chart above shows August 08 compared to August 09, the number of homes for sale are down by 2% and the number of units sold are down by 55%. The trend line indicates stable supply and we of course would LOVE to see this shrink.

Above, August 08 vs. August 09, the listing prices increased by 3% and prices declined by 13%. Trend lines show declinng prices last year.

Below is the chart which graphs the Dexter, Michigan active homes compared to sold homes and sold prices compared to listing prices since September 2006 through August 2009. The yellow line is the sold and you can see how volatile it is and the overall downward trend sine 2006. Note the last 2 previous months prices had risen.

We are selling homes and are happy to provide you with data to make informed choices. So far 119 homes have sold, from 6 bedrooms to 2, and from 5 baths to 1 and the average sold price per square foot is $108.44 up from $103.51 in July. The highest sold price is $1,400,000. Currently there are 245 homes down from 257 Dexter homes for sale ranging in price from $1,899,500 to $38,000. See what others say about our Dexter Real Estate services. Since we actually sell more homes in Dexter than any other agent, we are acutley aware of homes that have languished on the market and like the US have watched the number of homes that have sold as foreclosures increase.

See tour of Dexter by clicking on picture right below. Related posts:

Dexter House Hunters Video
What is selling in Dexter, Michigan?
For detail on recent Dexter real estate market data.

For inside tours, calendars, web sites and data base on Dexter and Washtenaw Schools, click here.

NAR have released their monthly real estate statistics for the nation.

Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June. The increase nationally is 3.6% to a seasonally adjusted annual rate of 4.89 million units in June.

Total housing inventory at the end of June fell 0.7% to 3.82 million existing homes available for sale, which represents a 9.4-month supply at the current sales pace, down from a 9.8-month supply in May. Although local inventory levels do vary. In the Existing home sales figures is condominium and co-op sales which on their own jumped 14.0% in June – this is great news for those looking for that perfect condo!

More interestingly, first-time buyers accounted for 29% of transactions – this is likely due to the first time homebuyer tax credit. Also the number of buyers looking at homes is up around 12% over June 2008. However distressed sales accounted for a whopping 31% of sales in June

Locally, existing-home sales in the Midwest increased 0.9% in June to a level of 1.10 million

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

www.KathyToth.com
Keller Williams Realty

1343 Auston Lane, Chelsea

BEAUTIFUL OPEN FLOOR PLAN IN ANN ARBOR REAL ESTATE WITH OAK KITCHEN/GREAT ROOM COMBO WITH INVITING GAS FP LEADING TO TREX DECKING WITH AUTOMATIC AWNING TO ENJOY SUMMER MEALS OUTSIDE. ABUNDANT COUNTERS AND STORAGE, METICULOUS INTERIOR, LARGE VAULTED MASTER WITH LUXURIOUS BATH, WALK  IN CLOSET, DAYLIGHT BASEMENT, GLISTENING HARDWOOD. IMMEDIATE OCCUPANCY CLOSE TO SCHOOLS, SHOPPING, PARKS, DINING, THEATRE,  #1 SMALL LIBRARY IN US

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See Extra Photos and a Virtual Tour for 1343 Auston Lane
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President Barack Obama’s latest expansion of his administrations “home affordable” refinance program, outlined just before the July 4 holiday, could be huge news for tens of thousands of owners whose houses are seriously “underwater,” or where they’re worth a lot less than the mortgage balance owed on them.

Under the new rules, even where borrowers have negative equities of as much as 25 percent, they may be able to refinance into better loan terms, provided their mortgage is owned or guaranteed by Fannie Mae or Freddie Mac. Old rules had a maximum cutoff of 105% LTV.

It is estmated that 80,000 have refinanced through FNMA and FHLMC however the old rules were too tight to help many homeowners, the new program also allows the possibility of shorter loan pay-off terms to reduce mortgage principal debts much faster if the homeowner wishes.

This is big news for homeowners. Contact your lender and see if you are eligible.

Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs.

www.KathyToth.com
Keller Williams Realty

WHEN: This Saturday July 18th at 9:00 am – Arrive promptly!
WHERE: Goodrich Quality Theaters 16 | 3686 Jackson Rd. | Ann Arbor, MI 48103
RSVP: Info@KathyToth.com or 734-426-6669

We invite you and your family to join us for a private showing of Harry Potter and the Half-Blood Prince! Kathy Toth and Team have reserved the entire Goodrich Quality Theaters 16 for the 9:00 am showing. Plan to be there promptly for the best seating and to visit with the owls! If you have not already RSVP’d please do so. If you have already RSVP’d then you’re first on the list! Seats are limited, so for everyone who is coming, please RSVP via E-mail at Info@KathyToth.com with “Harry Potter” as the subject line, or call 734-426-6669.

All we need is your name and the number of people attending along with you and we’ll add you to our reservation list. We hope you’ll join us!

Thank you to our clients! We appreciate the opportunity to serve you for your real estate needs. We look forward to helping your friends and family too!

7867 Fischers Way, Dexter Schools

HURON RIVER FRONTAGE 213 FT AND ACROSS FROM STATE LAND! UNHEARD OF PRIVACY AND PRIME CUL DE SAC LOCATION  IN DEXTER REAL ESTATE. GREAT FOR KAYAKS, CANOES & TUBING, WILDLIFE.LOVELY GREAT ROOM, OPEN TO GRANITE KITCHEN W/WALL OF WINDOWS TO DECKING, SCREENED PORCH TO RIVER AND  STUPENDOUS MASTER RETREAT W/BALCONY, SEPARATE SHOWER, DUAL SINKS.  NEWER CARPET, WINDOWS, FRESHLY PAINTED.  IMMACULATE, OPEN FLOORPLAN, HOME WARRANTY! ONE LOOK AND YOU KNOW YOU WILL NEVER FIND A BETTER LOCATION, JUST WATCH YOUR BLOOD PRESSURE DROP

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Michigan is in a very volatile market and I will discuss what is happening in the Ann Arbor real estate market through 4 trend charts and our mls report from The Ann Arbor Area Board of Realtors.

The first chart shows residual inventory has shrunk slightly, new listings are up 2.8 percent and homes under contract are up about 13 percent from last May. We have more sale contracts falling apart so when I hear about National Association of REALTORS® report of increased homes under contract, I shrug it off. Mortgage underwriting guidelines are so stiff I cannot begin to tell you the horror stories I am living through with lenders.

Download the full report, click here.

The next chart shows the Months supply of inventory has ranged from 5.1 to 12 months in the winter. Last May there were 6 months of supply. This indicates a buyers market is still evident. Notice the trend line; the months supply are trending up.

Download the full report, click here.

Inventory units have declined slightly (2 percent) from May 08 to May 09. Units sold are down by 26 percent and under contract are up by 13 percent.

Download the full report, click here.

Finally, the last chart shows Median prices have declined over the last 12 months and the median listed prices have remained stable. Until that gap narrows, we will still be in a buyers market.

Download the full report, click here.

For Washtenaw County, the year to date units sold were 1074 in 08 vs. 1001 in 09 from table insert below. The volume change year over year went from $232,931,457 to $171,143,697. Downward price pressure comes from continued real estate owned bank properties and short sales. The median sales price declined year over year from $187,400 to $135,000. The average sales price went from $216,882 in 08 down to $170,973 in 09

Interest rates remain in the five percent range for now. The buyer credit is helping spur some first time buyers into the market and it is still a great time to buy.

We’re conducting a social media experiment.  We’re seeking to add 100 users to our Fan Pages in the next several days.  If you are a Facebook user, simply go to the following pages and select Become a Fan.  Once we’re at 100 users we’ll announce the Facebook URL assigned to us.

Kathy Toth and Team Click to Become a Fan

We’ll report back and let everyone know how long it took to reach this goal, and the effects of viral marketing online via Social Networking.  Thanks for participating Facebook users.

4365 Ridge, Pinckney

DON’T MISS THE OPPERTUNITY TO COME HOME TO THIS OUTSTANDING ANN ARBOR REAL ESTATE COLONIAL. SELLERS ARE MOTIVATED AND HAVE PAID ATTENTION TO ALL THE DETAILS INCULDING THE FANTASTIC FINISHED WALK-OUT WITH ELEGANTLY TILED FULL BATH, RECREATION ROOM WITH WET BAR AND 5TH BEDROOM. PRIVATE, WOODED BACK YARD WITH GREAT DECK, PAVER PATIO AND POND FOR YOUR ENJOYMENT. LOVELY MASTER SUITE AND MORE. ACCESS TO IVIS LAKE.

Related Links
See Extra Photos and a Virtual Tour for 4365 Ridge
Visit our website for an in-depth property detail page
Looking for more Listings in Ann Arbor, Michigan?
Please visit our website for a complimentary MLS search

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