I can’t believe that I missed posting the previous market data. So here is what was happening in the Dexter Real Estate market.
The first chart shows months supply of inventory rising which always happens in each spring/summer market.
The second chart shows days on market down by 24 percent. Again no surprise here since houses sell faster in the summer months.
The third chart shows inventory rising from January. The number of new listings from May 08 to May 09 is reduced which is great news toward stabilization.
The fourth chart indicates an overall trend of reduced number of houses over the last year. However the sold units are also down from May 08 to May 09 by 25%.
The last chart indicates that summer prices rise (they always do) and in fact the sold prices were up 22 percent May 08 vs. May 09. The prettiest girls on the dance floor are getting picked. The foreclosures continue to come on the market. The banks still have little sense of urgency from the bank asset managers. Having buyers for these properties is still very frustrating. Bank non responsiveness is actually oppressive to the market. The Ann Arbor Board of REALTORS® June statistics will be reported this week.
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