May 2009 was certainly an exciting month for Ann Arbor Real Estate!

The Monthly Sales Statistics are in from Ann Arbor Area Realtor Association. The news is encouraging!

Sales figures show 233 residential units sold compared to 303 in 2008. The strong sales numbers for April have not yet translated into a consistent upward trend; however, the average residential sale price is up over last year by almost 9%. Low inventory, reports of multiple offers, and sale prices above list price are all good indicators that the market is moving in the right direction. Naturally of course, the $8,000 first time homebuyer tax credit is an added bonus and incentive for buyers to buy now! Also, MLive.com discusses Green Building - an issue which keeps coming to the decision making table. In year to date figures released 2008 had 1074 residential properties and 2009 has an impressive 1001. This is not far different from the previous year meaning that the trend is optimistic. By the end of the year it is expected that a strong upward trend will be revealed as buyers take advantage of market conditions. See the attached document for more detailed sales data for May 2009.

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