Is the Ann Arbor Real Estate Market Recovering?

By
Real Estate Sales Representative with The Charles Reinhart Company

Is the Ann Arbor Real Estate Market recovering?  That seems to be the million dollar question.  Possibly, is my answer. 

It appears that the home sales under $250,000.00 are in recovery mode or even somewhat robust.  The over $350,000.00 price range still seems slow and somewhat in oversupply.  It is not out of the question to think we will see an Ann Arbor Real Estate Market recovery in 2010. 

If the University of Michigan continues to staff the recently acquired "old Pfizer" facility we will most likely see job growth in Ann Arbor in 2010 which will add to any Ann Arbor real estate market recovery.  The Reinhart Company's buyer side sales were up in 2009 from 2008, which means we are moving folks into Ann Arbor.  Let that trend continue! 

The Tax Credits being offered to First Time Homebuyers as well as Existing Homeowners who purchase homes will push the number of sales up, but the credits are due to expire in the first half of 2010. 

The Reinhart Company has the top market share spot in the Ann Arbor Real Estate Market, Saline, Dexter, Chelsea and large part of Ypsilanti according the AABOR as of Dec. 31, 2009.

The Reinhart Company sells more homes in Ann Arbor and most surrounding areas than any other company.  If you want an agent with real estate knowledge, experience and expertise, hire a Reinhart Agent, like me.

Comments (1)

Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Colleen,

Always good to hear about new jobs being added to a community. Our market sounds somewhat like yours, lower end is moving fast, great for first time home buyers. We have very few move-ups right now, I think there are lots of folks who are okay (not in a hardship) yet their equities have declined pretty dramatically so they're staying put.

Jan 12, 2010 06:41 AM