Ann Arbor Real Estate Market Is Stabilizing
Ann Arbor median price per square feet is trending up over the last 12 months. See summary charts of the Ann Arbor Real Estate Market at bottom of post. The median sold prices of all Ann Arbor Real Estate areas combined have risen slightly over the last 12 months. The chart below is an absorption chart which shows that the shrinking inventory reveals 6.2 months supply. Many sellers' have taken their homes off the market, or are waiting until spring to list their homes. Ann Arbor Real Estate is stabilizing and with the current low interest rates, the extended home buyer tax credits and incredible real estate values. To find out more about Ann Arbor Real Estate Market Statistics for all of Ann Arbor, continue reading.
The market is broken down into areas by the Ann Arbor Area Board of Realtors with a map below and insight into each neighborhood and school area is provided.
Pete Hendershot, appraiser with Affinity Valuation Group, LLC.. says, "Burns Park area 88 is always active and usually has the highest dollar per square foot; schools are Allen, Thurston, King, Burns Park, Angell, Tappan, Clague, Huron High". Let's explore.
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Search Area 81 North West Ann Arbor is boarded on the East side by US 23 and to the south I 94.
There are 32 (up from 20) Ann Arbor homes for sale in area 81 with bedrooms ranging from 2 to 6 and baths from 1 to 7 with list prices ranging from $124,900 to $2,950,000. Homes sizes range from 1,117 to 15,185 square feet.
The chart shows the trend line of average sold price per square foot is hovering around $150 per square feet over the last 12 months.
There are 43 sold Ann Arbor homes over the last 12 months in area 81 with bedrooms ranging from 2 to 9 and baths from 1 to 10 with list prices ranging from $160,000 to $5,990.000 and sold prices from $166,500 to $3,000,000. Average sold price is $523,000 and average sold price per square feet is $152.50 down from $157.01 (last month).
The chart above shows compared from January 09' to January 10' that the number of homes for sale are down 9 percent and the number of homes sold are down 25 percent.
The median price of homes listed for sale is down 16 percent and sold prices is down 25 percent - January 09' vs. January 10'.
Schools are Abbott, Wines or Haisley elementary schools and Forsythe Middle School and Skyline High School. For database on Washtenaw Schools, click on highlighted link.
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Search Area 82 Westside of Ann Arbor South of M14 and Main Street is the boundary on the East side.
There are 116 up from 85 active homes for sale with bedrooms ranging from 1 to 6 and baths from 1 to 5. The size of homes for sale range in square feet from 729 to 7,500. List prices range from $70,000 to $1,285,000 and average list price per square feet is $156.99.
The trend of prices is up over the last 12 months per the chart going from $150 to $138 per square feet.
There are 272 sold Ann Arbor homes the last 12 months in area 82 with bedrooms ranging from 1 to 6 and baths from 1 to 5 with list prices ranging from $34,000 to $749,000 and sold prices from $25,000 to $692,000. Average sold price is $225,680 and average sold price per square feet is $143.78. The average sold price per list price is 94 percent.
The supply chart shows the number of homes for sale compared to last January 09' vs. January 10' is down 14 percent and the number of homes sold is down 11 percent.
The price chart below shows compared from January 09' to January 10' that the price of homes for sale are down 1 percent and the price of homes sold are down 11 percent.
This Ann Arbor area 82 includes desirable west side of Ann Arbor. Schools are Bach, Eberwhite or Haisley for elementary school; Slauson or Forsythe for middle school (depends on location) and usually Pioneer High School.
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Search Area 83 Ann Arbor Southwest Liberty to Main Street.
There are 72 (up from 62) active Ann Arbor homes in area 83 vs. for sale ranging from $89,900 to $875,000 and average list price per square feet of $156.71.
The sold prices per square feet trend line over the last 12 months per chart is flat between $130 to $140 per square feet.
There are 149 sold Ann Arbor homes in the last 12 months in area 83 with bedrooms ranging from 2 to 5 and baths from 1 to 5 with list prices ranging from $64,400 to $899,900 and sold prices from $61,000 to $885,828. Average sold price is $302.013 upr from $299,224 last month, and average sold price per square feet is $136.91 and the average sold price per list price is at 96 percent.
The chart above shows compared from January 09' to January 10' that the number of homes for sale are up 4 percent and the number of homes sold are up 50 percent.
The median price of homes listed for sale is up 17 percent and sold prices is up 31 percent - January 09' vs. January 10'.
Elementary schools are Lawton, Bryant-Pattengill and Lakewood and the middle school is either Slauson or Tappan, along with Pioneer High School. This area is on the lower left South West quadrant of the map below.
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Search Area 84 Ann Arbor Briarwood to North Stadium
There are 35 active Ann Arbor homes for sale in area 84 by Briarwood to North Stadium ranging from $58,000 to $399,000 and average list price per square feet of $119.55.
The trend of sold price per square feet over the last 12 months is flat.
There are 53 sold homes over the last 12 months in area 84 with bedrooms ranging from 2 to 5 and baths from 1 to 3 with list prices ranging from $61,900 to $479,000. Sold prices range from $68,000 to $479,000. Average sold price is $196,068 down slightly from $196,346 and average sold price per square feet is $119.31 with the average sold price per list price at 96 percent.
The number of homes for sale in January 09' is up 10 percent and the number of homes sold compared to January 10′ is up 200 percent. Inventory is trending up slightly over the last 12 months
Median price of homes for sale is down 12 percent and median sold price is up 100 percent compared to January last year. This area is the purple area in the middle of the map below.
Schools are Bryant-Pattengill and Allen for elementary and Tappan or Scarlett for Middle schools and Pioneer or Huron for the high school.
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There are 76 (vs.57 last month) active Ann Arbor homes for sale in area 85 ranging from $31,500 to $889,900 and average list price per square feet of $106.96 up from $101.81. The size of the homes range from 710 to 3,054 square feet.
The average sold price per square foot prices has trended up over the last 12 months.
There are146 homes sold in the last 12 months in area 85 with bedrooms ranging from 1 to 5 and baths from 1 to 3. Sold prices range from $29,000 to $315,000. Average sold price is $150,338 down from $152,881 and average sold price per square feet is $91.32 with the average sold price per list price at 96 percent.
The number of homes for sale compared to January of last year is down 19 percent and the number of homes sold compared to January 09′ is down 50 percent. The number of homes on the market is shrinking.
Median price of homes for sale is up 6 percent and median price of sold is down 51 percent compared to January last year.
The schools are Pittsfield, Carpenter, Allen or Mitchell for elementary school and Tappan or Scarlett for middle school, along with Huron High. This area of schools - Pittsfield, Carpenter, Allen, Mitchell, Tappan, Scarlett, and Huron is the green section in the lower right quadrant of the map below.
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There are 58 (vs.34 last month) active Ann Arbor homes for sale in area 86 ranging from $242,500 to $2,495,000 and average list price per square feet of $198.12 and average list price of $672,474. The homes range in bedrooms from 2 to 8 and baths from 2 to 6. The size of home for sale range from 1,363 square feet to 8,392 square feet.
Area 86 average sold price per square feet trend line is down per Affinity Valuation Group, LLC.
There are 83 (same as last month) sold Ann Arbor homes in area 86 this year with bedrooms ranging from 2 to 6 and baths from 1 to 6 with list prices ranging from $159,900 to $1,290,000 and sold prices from $2,750 to $1,150,000. Average sold price is $494,743, the highest in Ann Arbor and average sold price per square feet is $162.89 with the average sold price per list price at 92 percent (down from 93 percent from last month).
The number of homes for sale compared to January of last year are up 3 percent and the number of homes sold compared to January 10′ are down 25 percent. The number of homes on the market over the last 12 months is about the same.
Median price of homes for sale are down 11 percent and home sold prices are up 51 percent.
Schools are Allen, Thurston, King, Burns Park, Angell elementary schools. Tappan or Clague are the middle schools, along with Huron High School. This are is aqua on the East side of Ann Arbor.
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There are 49 (up from 33 last month) North East Ann Arbor homes for sale ranging from $50,000 to $1,495,000 and average list price per square feet of $62.80 and average list price of $375,295. The homes range in size from 720 square feet to 5,834 square feet with bedrooms from 2 to 7 and baths from 1 to 4.
The average sold price per square foot prices are flat for the last 12 months.
There are 99 (vs. 104 last month) sold Ann Arbor homes in North East Ann Arbor over the last 12 months with bedrooms ranging from 2 to 6 and baths from 1 to 4 with list prices ranging from $108,800 to $965,000. Sold prices range from $108,000 to $800,000. Average sold price is $271,417 and average sold price per square feet is $128.45 with the average sold price per list price at 95 percent. The sold homes range in square feet from 792 to 4,667 square feet.
The number of homes for sale compared to January of last year are up 12 percent and the number of homes sold are down 71 percent.
Median price of houses for sale is down 10 percent and prices of sold homes is down 25 percent over last year.
Schools are Northside, Thurston or Logan for elementary schools, Clague for Middle and Huron High or Skyline depending on location. This is the North East Ann Arbor upper right purple map quadrant.
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Search Area 88 Ann Arbor Downtown/Burns Park, south of the University and walkable neighborhood.
There are 27 (vs.18 last month) active Ann Arbor homes in area Burns Park for sale ranging from $159,900 to $1,995,000 and average list price of $475,792 and list price per square feet of $220.47. The homes offered for sale range in size from 702 square feet to 4,130 square feet.
The average sold price per square feet trend is up per Affinity Valuation Group, LLC in Downtown/Burns Park, and south of the University.
There are 42 (same as last month) sold Ann Arbor homes in Burns Park this year with bedrooms ranging from 2 to 6 and baths from 1 to 4 with list prices ranging from $179,900 to $1,350,000. Sold prices from range from $180,100 to $1,150,000. Average sold price is $447,005. Average sold price per square feet is $200.86 and the average sold price per list price is now at 95 percent (same as last month).
The number of homes for sale compared to January of last year is up 15 percent and the nubmer of homes sold are the same. Actually the number of houses on the market over the last 12 months is down slightly, good news that inventory is shrinking.
Median price of homes for sale is up 6 percent and prices of sold homes is up 102 percent compared to January last year.
Schools are Eberwhite, Bach and usually Burns Park for elementary schools. The middle schools are Tappan and Slauson depending on location, along with Pioneer High School. Burn Park is in the center of the map.
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Finally a market snapshot which is all Ann Arbor areas combined. This chart shows that Ann Arbor residential asking prices compared to January 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 Jan 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 January compared to last year are down 5 percent and sold homes are down 19 percent. The trend line confirms shrinking inventory.
Median prices of those homes for sale are up 8 percent and those sold are up 19 percent when comparing this January 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.
Thanks for the Source: Affinity Valuation Group, LLC.
Map areas for the MLS below.
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