The Ann Arbor real estate market is proving to be good tidings and great joy as we head to the finish line. An upward trend has both Sellers and REALTORs very happy. Sales are continuing to be seasonally steady as we review the last 2 years of market statistics for number of homes sold and average square foot / sale price.
When reviewing the 24-month chart below, for the entire Ann Arbor area real estate market, let’s pay close attention to the red line on the chart which indicates an upward trend in the Linear (Average Sale Price per Square Foot) which is now hovering around $151.00 sales price per square foot for the year end 2011. Based on 2 years of data the linear average sale price per square foot is up this year from last by approximately 3.54 percent. The number of homes sold is up approximately 4.63 % over the same 2-year time frame. And comparing the last 2 months, October and November 2011, the number of sales were up 10.7 percent. So, in review the market is stabilizing and trending upward. All Good News!!
I have included all 8 Ann Arbor Area Board of REALTORS market graphs for you to review. NOTE: MLS areas 81, 84 and 88 have fewer sales and having fewer sales can affect the graph trends.
Buyers as well as Sellers should pay close attention to these indicators. While trends are showing signs of a recovery, it’s a great time to take the next step to home ownership or listing your home for sale. Call to schedule an appointment.
I would like to thank Peter W. Hendershot, State Licensed Real Estate Appraiser, Business Development Manager, Affinity Valuation Group for putting this chart together for all of us to analyze. This data is shared with your local REALTORs, lenders, builders and lawyers so we can assist our clients.
Click this Gallery to review your local market area.
To take advantage of a buying opportunity, and to look for all the real estate deals www.homesearchannarbor.com .
Investigate foreclosures here. http://www.homesearchannarbor.com/guide/Foreclosure_%7C_Bank-owned
We know about homes before they hit the market, just call or email what you need.
Kathy Toth and the Toth Team