The new Housing Market report has just been released. If you would like information and your
neighborhood please contact me at kim@kimfosterrealtor,com or phone me at 734-678-7839.
If you would like me to come out to your home to meet you and list your home do not hesitate to call.
I specialize in Ann Arbor and the surrounding areas and have just been recognized as being in the top 5%
of all Realtors in the United States.The following is the latest release from the Ann Arbor Board of Realtors.
For immediate release
March 10, 2010
Ann Arbor Area Board of REALTORS®
Good-bye 2009! Real estate sales are up nicely, compared to last year, according to
numbers released by the Ann Arbor Area Board of REALTORS®. The data shows an increase
of 37 percent in sales, with single family residential posting 23 percent more sales than last
year and the sales of condos almost doubled, from 20 in February 2009, to 38 units sold in
February 2010.
In keeping with the national trend, sales prices have begun the slow climb upward, with an
increase of 5.5 percent year-to-date, over last year at this time. The dominant factor in
rising home sales and stabilizing prices is the home buyer tax credit. Buyers are responding
to the program, and that - combined with record low mortgage interest rates - is attracting
purchasers to the market. Buyers who have a contract in place by April 30, 2010, have until
June 30, 2010 to finalized the transaction to get a credit of up to $8,000 for first-time
buyers and $6,500 for repeat buyers.
Near term market conditions will remain favorable. While interest rates are expected to
trend up later this year, affordability continues at healthy levels. In general, housing market
conditions are good. Home prices are steadying and inventory, while drawing down,
continues to offer buyers a variety of options.
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