Sold Median Price for Bank vs. Non-Bank Properties

Sold Median Price for Ann Arbor Area Bank Properties is down -19.22 % vs. Median Non-Bank Sold properties is down only slightly at -5.22%. Of the 75 properties that sold in December 2011 there was an average median market sold price of $230,000. Eleven of those Washtenaw County properties were Bank Units with and Average Median price of $154,000.  Moving over on the Chart you will see the December totals for Non-Bank properties at 64 Units Sold with a Median price of $255,250.

We are catching our breath for the coming year and will constantly be monitoring these Selling Prices of Foreclosure and Non-Bank Sales.  Properties that are priced properly in this fragile real estate market have the greatest chance of selling and selling more quickly.  There are fewer properties on the market at this time, so this is a great time to list your home.  For those looking to find a bank property – give us a call as we often know about properties before they come on the market.  Join us for our upcoming roundtable event to be held in Ann Arbor, MI.

For updated Ann Arbor market data for the last 10 years or so, see historical graphs for Washteanw County Real Estate market.  Remember each school disctrict is also unique and micro neighborhoods exist.  Data is alos dependent on price ranges chosen.