Here is a market snapshot which is all Ann Arbor areas combined. This chart shows that Ann Arbor residential asking prices compared to June last year are up 26 percent and sold prices are down by 37 percent.
So bottom line, the Ann Arbor market is stabilizing. Downward pressure is exerted by foreclosures and short sales. Again Ann Arbor homes are affordable, choices are abundant and low interest rate financing is available.
We all want to know when the market will turn around, so we are tracking the Ann Arbor Real Estate Market activity monthly. Pete Hendershot of Affinity Valuation Group, LLC says, the market bottomed. For your Ann Arbor Area home value, click here.
Ann Arbor Board of Realtors organizes our data by search areas by boundaries and schools as pictured. We do a ton of business with people who are relocating to Ann Arbor, usually coming to work for University of Michigan. Many have never been here. It’s always our pleasure to help others discover this gorgeous city and to show the different areas of Ann Arbor, each having a different feel. It’s important to find the place that feels like home to you. For last month’s data, see Ann Arbor Area Real Estate Statistics Charted Last Month.
Neighborhoods are unique so you knowing up to date Ann Arbor Real Estate information about specific areas and trends could be helpful. The Ann Arbor Board breaks down our Ann Arbor Real Estate into the areas in the map. Trend lines from Affinity Valuation Group, LLC help us determine the Ann Arbor Real Estate Market direction. For all areas in Ann Arbor, the average sold price per square feet are trending up slightly over the last 12 months; great news! Finally, if we look at data since March 2009, the average sales price per square feet inched up.
As far as Ann Arbor market statistics go, the number of houses for sale this June compared to last year are down 3 percent and sold homes are down 10 percent. The trend line confirms shrinking inventory.
Median prices of those homes for sale are down 3 percent and those sold are up 1 percent when comparing this March to last year. The gap between the asking prices and sold prices is narrowing per the trend lines, showing that the market is becoming more stable.
Ann Arbor Real Estate Statistics: Trend Prices Per Square Feet
Chelsea Real Estate Statistics: Trend Prices Per Square Feet
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