In the past year the trending sales price has sloped up from around $135 to just about $145 per square foot. This past month has shown the greatest increase in average sales price per square foot by leaping up to over $160. Is the real estate recession ending? We have several months needed to answer this question. In the meantime, we will celebrate the little wins, and keep posting updates. Check in with our blog frequently for the latest information.
Area 81 - Northwest Ann Arbor:
The sales price per square foot in area 81 is a roller coaster with many ups-and-downs. The trend reports that although we are going up and down, we are still slowing trending toward an increase in SP/Sqft. The low number of sales result in unstable bounces in the data.
Area 82 - Midwestern Ann Arbor:
Since September, we've been climbing sharply with the average sales price per square foot. However, September showed a rather sharp drop-off from August. Overall, the trend reflects a steady growth, and things are looking better from last December for Midwestern Ann Arbor.
Area 83 - Southwestern Ann Arbor:
Seeing a sharp change in the trend results in this month's data. The average sales price is $70 per square foot. This low number hurts the overall picture for area 83 because this early in the month, there may be only 1-2 homes (likely foreclosures) causing harm to the statistics. If we were to take a look towards the end of the month, I'm sure we'll see a more level trend, but over all still slightly downward.
Area 84 - Southern Ann Arbor:
Southern Ann Arbor has seen better months. November's sales price per square foot ratio was in the hole. As compared to other areas, the amount of sales dropped off and the properties that did sell were low. This reports the trend as a downward, and hopefully the new year will bring some better news.
Area 85 - Southeastern Ann Arbor:
The property value over the past year for Southeastern Ann Arbor has been, for the most part, consistently lower. There have been a couple great months--specifically when the tax credit was still available, but after that, the market has been dropping. This is never a pleasant sight for homeowners.
Area 86 - Mideastern Ann Arbor:
Mideastern holds up the rest of the city for property sales. Over the past year, the trend shows an optimistic outlook for this area. Homeowners who have recently purchased are likely thrilled to have gained some value on their new property purchase. This month shows the highest sales price to square foot ratio; reporting $245 per square foot.
Area 87 - Northeastern Ann Arbor:
Northeastern Ann Arbor is another area that has shown a trend growth despite the past few months not showing off the highest numbers. If the cycle repeats, there'll be a couple more slow months, and property sales price will shoot up again in the Spring and Summer months.
Area 88 - Central Ann Arbor:
The low number of property sales makes the data for the trend to be a little tough to pinpoint. Homeowners in central Ann Arbor are holding onto their properties if they do not have to sell, which may not be a bad idea for now. Overall, though, there are half of the months in the last 12 months sitting around $190.
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