Prices Up 9 Percent According to the Ann Arbor Area Board of REALTORS

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Ann Arbor and the surrounding Washtenaw County, Michigan area is still reporting impressive price increases in residential home prices heading into Fall.  The Ann Arbor real estate market  has held up with positive improvements in pricing and number of units sold.  This great news is expected to continue as interest rates continue to stay low which helps to keep those properties selling.   With such a low volume of listings available for sale, properties are selling quickly and with multiple offers in some instances.  This is truly stabilizing the market and making a swing to a Sellers Market.  Sellers – It is Time To List!

The following “August Monthly Housing Statistics” are published with activity from the Ann Arbor Board of REALTORS Multiple Listing Service keeping in mind that these stats do not contain all the housing activity that has occurred in the Washtenaw County area.  Here are some stats from the August Report.

  • August sales of residential properties are up 15 percent over August of last year, 7.4 percent for 2012 year-to-date, compared to 2011.
  • Inventory is still lagging, with the total number of listings down 7 percent from last year. Less inventory drives prices up, due to the higher demand for less supply.
  • The average residential sale price in August 2012 was $220,738, up 8.7 percent from the average sale price of last August which was $203,061.
  • Year to date median home prices are up 9 percent from $159,000 to $174,000.
  • Days on market have dropped to 61 days, compared to 82 days in August of 2011. When you look at the Days on market (DOM) numbers – they do not reflect cumulative  days on market.

When you need expert real estate advice, contact the Kathy Toth and Team REALTORS at 734.669.0337.

To search for homes in Dexter and the surrounding Ann Arbor Market area go to HomeSearchAnnArbor.com

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Washtenaw County Sheriff’s Deeds Down Again in 2012

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Kathy Toth & Team, Keller Williams Realty Ann Arbor Market Center, Ann Arbor, MI 734.426.6669

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Washtenaw County Recorded Sheriff’s Deeds are down 27.8 percent compared to the same time last year.  The monthly foreclosure  totals are very reflective of the year 2006.  This is excellent news with only 4 more months yet to be revealed in 2012.  There were a total of 571 Sheriff’s Deeds recorded of the 8 months in 2012 compared to 791 for the same time frame in 2011 and we have not had a lower total comparing the same time frames since 2006 which had a total of 411 Sheriff’s Deeds recorded.   Comparing only August  of 2011 to August of 2012 we are down 39.6% from last year.

An updated table showing monthly recording for January 2002 through August, 2012 is presented below.

Market inventory is still low in Ann Arbor, Michigan  and throughout the entire Washtenaw County area.  Now, makes for a great  time to list your home because buyers are eager to purchase the inventory. Never a better time for Buyers – So Why Rent When You Can Own especially with interest rates at an all-time low.

 

August 2012 Sheriff's Deeds Report

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Real Estate Market Improves; Reports for July 2012

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What did your neighbors house sell for?  Check out National and Ann Arbor Real Estate market video.

We report the Ann Arbor Area Real Estate market in detail so our clients make informed decisions.

The Ann Arbor real estate market in Michigan is up in all brackets according the the Michigan Association of REALTORS Residential Sales Stats reported by all local boards across the state.  Ann Arbor shows improvement in comparing July 2012 to July 2011 stats with the number of Sales up 6.65% and the Average Price is up 11.81%. The Year-to-Date category is also improved showing the July number of sales increased 6.64% year-to-date over last year and the July Average YTD Price increased over last year by 8.24%.

Below is the full Michigan Association of REALTORS report – Click report below to see larger image.

Michigan Association of REALTORS July 2012 Report

Want to see details for Days On Market (DOM) for homes in Dexter, Chelsea, Saline or Ann Arbor: get your free copy?

Ann Arbor Real Estate Market Report Show 4 Months Supply For First Half of 2012

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Was your house one of the 723 Sold properties in Ann Arbor, Michigan over the past 6 months? Ann Arbor homes will sell quickly when priced and marketed properly.

There were  238 homes that sold in a price range of $200K – $300K.   This was the largest segment of active listings @ 129 out of the total number of  active listings of 486.  In this price range the average list price was $254,447.  This price range averaged 53 days on market.  The average sales price was $242,634. During this 6 months there was an approximate 3.3 months of inventory available pushing toward a Sellers Market.

The 3.3 months of inventory is determined by knowing the total number of active listings (homes currently for sale) and the total number of homes that sold over a specific period of time.  Take the total number of sold homes that you are comparing, in our case 238 divide by 6 months  = 39.66.  Then take the total number of active listings you are comparing and this is 129 in our $200K – $300K segment and divide by 39.66 and you will get approximately 3.25 rounded to  3.3 as the Absorption Rate or Months of Inventory (before any new properties come on the market).  Place this into a heat index, located along the right hand side of the chart below, shows the absorption rate of every segment  of the inventory.  The color Red indicates a favorable Selling Market and Blue indicates a Buyers Market.    To read the complete  report go to the  ANN ARBOR REAL ESTATE MARKET REPORT FOR THE FIRST HALF OF 2012 published August 6, 2012.

Red Heat Index Shows a Sellers Market
Red on the Heat Index
Indicates a Sellers Market

In the Ann Arbor real estate market , the hottest segment, indicating a Sellers Market, comes from homes priced between $100K – $200K.  This bracket comes in second for number of homes sold.  There were 228 homes sold and the heat index shows an Absorption Rate at 2.9.  If you have a home to sell in this price range do not hesitate to list your property today.  Buyers are  looking  these home at a faster rate than all other segments.

Take a few minutes to review your price range.  Homes in a price range of $0.00 all the way up to $499,999 with  good location, curb appeal and staged for proper showings will sell the quickest.  And this entire range is showing more favorably toward a Seller’s Market as well.

At the bottom of the chart the Median Market pricing shows that the listings priced at approximately $289,900 are on the market for approximately 54 days.  But, when priced at a median price between $247,000 to $239,900 will sell at a median price of  approximately $235,000 with an approximate 33 days on market.

Just click here  to see a larger chart and to read the 4 page Ann Arbor Real Estate Market Report.

Ann Arbor Real Estate Market Report, Monday August 6, 2012
Ann Arbor Real Estate Market Report,
Monday August 6, 2012

Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!  We are here to provide data, consultation, videos and other tools to help our clients make informed Ann Arbor Real Estate decisions. 

Kathy Toth and Team  www.KathyToth.com  Keller Williams Realty

Ann Arbor Real Estate is Trending Up in 2012 as Good News Continues to Spread

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Great News again in the Ann Arbor real estate market.  The Trend in Linear Average Sale Price per Square Foot is Up in 2012.  The number of homes sold in July over the last 3 years is up.  And the sales price trend is up for single family homes sold in Ann Arbor.  Do you want to know what your home is worth. 

Click the Chart Below to View a Larger Image

July 2010-2012 Ann Arbor combined

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Call the Ann Arbor Real Estate Experts at (734) 426-6669.  We are here to help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

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Kathy Toth and Team, Keller Williams Realty

Washtenaw County Recorded Sheriff’s Deeds Down Again for 6th Straight Month of 2012

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The number of recorded Sheriff’s Deeds are down again for the 6th straight month in 2012 for the Ann Arbor and the Washtenaw County Area.   The 74, July 2012 reported sheriff’s deeds are down 27 % over the same period in July of 2011.  Comparing the 510 recorded Sheriff’s deeds year-to-date 2012 to the 690 recorded in 2011 the sheriff deeds are down 26%.  If we compare the number year to date for 2012 for the same year-to-date period in 2010 we are doing 41% better than 2 years ago during the same reporting period.  Great news as Recorded Sheriff’s Deeds have continued to decline for the past 6 months in a row.  The positive news is – the number of recorded sheriff’s deeds continues to head back toward those  of 2006 totals.  View the chart below for full details.

Buyers – know that home prices are continuing to climb and the mortgage market interest rates are fantastic.  Our buyer’s agents are ready to help you purchase your new home.  Don’t rent when you can buy and capture the market pricing for incredible fixed rate 30 year payments.  Landlords can raise the rent, but a fixed rate mortgage will remain the same for the term of your loan.  Read Why Rent when you could own.  Read our Seven successful buying tips.

Sellers – market inventory is low.  With proper pricing, those homes are selling fast.  You, too, can take advantage of low inventory and buyers looking to invest.  Sell now and take advantage of the incredible interest rates offered by mortgage lenders.  What is my home worth.  Here are a few quick tips for preparing your home for the market.

July Sheriff Deed Report

For your current and the most comprehensive Ann Arbor Area Real Estate market information including absorption rates for Ann Arbor, Chelsea, Dexter and Saline click here.  Keep up-to-date on your local neighborhood and have the report sent directly to your email inbox.

Search homes in Ann Arbor and the surrounding Washtenaw County area  and call us as we often know about properties before they are listed.  Search here to find foreclosure deals in the area.

Tour our featured listings!

Call the Ann Arbor Real Estate Experts at (734) 426-6669.  We are here to help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

Kathy Toth and Team, Keller Williams Realty

Ann Arbor Residential and Condo Trends

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As real estate professionals, we strive to keep in touch with clients and provide them with information that we hope they will find useful. This graph will let you know about the state of the market and current trends. We hope the market data here and articles in AnnArborTalks.com will help you understand Ann Arbor real estate and help you with your real estate decisions. We are proud of hosing the best search – just like the MLS in the Ann Arbor Area at www.HomeSearchAnnArbor.com If you have any questions, please contact us.

Ann Arbor Real Estate Sales Data

We look forward to serving you in your Ann Arbor Real Estate decisions. Want to know what your neighbor’s house is selling for?

Ann Arbor Area Sales Prices Up Reports by Ann Arbor Area Real Estate Experts

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Ann Arbor Real Estate Improves|734-669-0337| Ann Arbor Real Estate Experts Report

May 2012 real estate sales picked up 14.2 percent over the same time for the month May of 2011.  Many of our Ann Arbor homes are going under contract and experiencing bidding wars. There were 298 Residential homes sold  in May 2012 compared to May 2011 there were only 261 sold.  The average residential sales price was $205,650 for May 2012 which is a 10% increase from the $186.953 average sale price in May 2011.

Condo sales were up 12.3% from last year, with 73 sold in May.

Overall for All Properties Sold  in number of units sold, plus the improved increase in the average sale price has pushed up the total dollar volume sold to $278,112,755 for the year.  This is a 12 % increase over the same time last year.

For anyone thinking about listing their Ann Arbor Area home, or condo the local inventory available is still down over 1.3 % compared to May a year ago.  Prices will most likely continue to improve with less inventory.  This is great news for Sellers because with fewer homes listed and fewer properties for buyers to consider makes for higher sales prices overall and homes selling in fewer number of days overall.

Buyers are still taking advantage of the great pricing on the market and those homes are receiving offers and at times Sellers are receiving multiple offers.  When purchasing a home, work with a Buyers Agent.  Buyer’s Agents have your best interest in mind.

For your current and the most comprehensive Ann Arbor Area Real Estate market information including absorption rates for Ann Arbor, Chelsea, Dexter and Saline click here  .  Keep up-to-date on your local neighborhood and have the report sent directly to your email inbox.

Search homes in Ann Arbor and the surrounding Washtenaw County area  and call us as we often know about properties before they are listed.  Search here to find foreclosure deals in the area.

Let the Ann Arbor Real Estate Experts – Kathy Toth and Team, Keller Williams Realty help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

Average Sales Price Up in Ann Arbor Area Real Estate

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Ann Arbor Area Board of REALTORS Market Report is showing signs of strong improvement in the sale of Vacant Land.  As you can see in the chart below 2012 year-to-date totals for Vacant Land Sales have more than Doubledcompared to year-to-date totals in 2011. Excellent news for builders as we look for new construction to emerge.

For residential homes,  average sale price this year to date compared to last year is up .08 percent and

average sales price this month 2012 compared to this month in 2011 is up .2.28percent.

Another great indicator that the real estate market is stabilizing and showing signs of improvement is that the average sales price is up 23.6 %.  The increase in average sale price is do in part to low inventory.  Buyers are moving quickly to secure their new homes.  Excellent time to list your home as buyers are really on the move.

 

To view the entire Ann Arbor Board of REALTORS April report see below.

 Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours – FREE!

Kathy Toth and Team www.KathyToth.com Ann Arbor Market Center Keller Williams Realty

Washtenaw County Sheriff’s Sales Down in Ann Arbor and Surrounding Area

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Incredible news –  for the  3rd month in a row we have had a drop in the number of recorded Sheriff Deeds in Washtenaw County.  April 2011 compared to this year April 2012 we are down 36.5%.  Yearly totals for the 1st 4 months of 2011 compared to the 1st 4 months of 2012 we are down 28.64% from last year.  2012 is certainly showing improved signs of stabilization with a total of 122 fewer recorded sheriff’s deeds compared to last year at this time.

Sellers – it is time to list your home.  Property inventory is down and buyers are writing offers.  Very important to price your home to sell at a competitive price point to attract buyers.  Keep in mind that the sale of your home will also depend on an appraisal.

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Buyers – keep up with new and current listings.  Use our free property search at HomeSearchAnnArbor.com.  Have new listings sent directly to your inbox.  You can determine your own search criteria.

The chart below has been provided by Washtenaw County Clerk and Register of Deeds.

Use our detailed  home search engine to  Search homes in Ann Arbor and the surrounding area.

Kathy Toth and Team |  Keller Williams Realty  |  734.669.0337