Ann Arbor Real Estate Market Hovers
Thursday, July 15, 2010
As far as unit sales go, residential home sales June of 2009 compared to June 2010 in Washtenaw County totaled 388 in June, up from 346 a year earlier. Condo sales were up from 83 in 2009 to 92 in June. Total dollar volume went up 11.7 percent from $71.5 million to $79.9 million. The real story is in prices; however. The average sale prices fell slightly from 2009 totals. Average sales price went from $206,738 down to $205,994. The residential median prices hovered from $168,250 to $169,700 (change of .0036) and median condo prices dipped from $134,000 to $123,000 (change of.082).
We will not see an inverted V curve, but again, I believe we are at the bottom of the market. Recovery may be like a hover craft or skipping stone, yo yo ing along. I see positive signs of some employment changes, which is what we need. This is kind of like our U of M football team – up and down. We look for 100 percent wins in both.
Above thoughts are based on information from the Ann Arbor Area Board of REALTORS® Multiple Listing Service for the period from June 6, 2009. We welcome your insights and thoughts; what do you think will happen in the Ann Arbor Real Estate market? Comment below or call us; 734-669-0337
Ann Arbor Real Estate Experts: Kathy Toth and Team Ann Arbor Market Center Keller Williams Realty
Pictured below - Rich Rodriguez and Kathy Toth at Women's Football Academy