What Is Happening In The Ann Arbor, MI Condo Market?
November 2008
This month's edition covers Ann Arbor real estate market activity and then we discuss four proven strategies for getting the most out of today's market!
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This data is from the Ann Arbor Area Board of Realtors
- Unit sales were up 31% over last year.
- Median sales price is down almost 16% from Oct 07 vs. 08 or an average drop of 1.06% per month. Condo and residential sales always drop because of seasonality at this time of the year.
To search all condos, click here.
Condo Listings in October : Decrease: 13.7% October 2007: 169 October 2008: 146
Condo Listings Year To Date : Decrease: 17.6% Y.T.D. 2007: 2,421 Y.T.D. 2008: 1,753
Condo Sales in October : Increase: 31% October 2007: 42 October 2008: 55
Condo Sales Year To Date : Decrease: 7.4% Y.T.D. 2007: 574 Y.T.D. 2008: 532
Condo Average Days on Market October October 2007: 90 October 2008: 115
Condo Average Days on Market Year To Date Y.T.D. 2007: 86 Y.T.D. 2008: 165 Condos are taking much longer to sell this year
Condo Median Sales Price October : Decrease: 15.9% October 2007: $160,500 October 2008: $135,000
Condo Median Sales Price Year To Date : Decrease: 10.6% Y.T.D. 2007: $159,000 Y.T.D. 2008: $142,250 Condos prices have dropped
The data above reflects the sales of foreclosures and short sales bringing down prices. To see different pockets and neighborhood data, CONTACT US for specifics and Ann Arbor micro market knowledge.
We have the resources to give you THE advantage. Call our Ann Arbor Buyers Agents to discuss further and then look at our Frequently Asked Questions. Waiting on the sidelines may cost if rates go up.
Check out residential historical graphs of Ann Arbor, Washtenaw, average prices and days on market.
Look at the full report from the Ann Arbor Area Board of Realtors.
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In spite of all the doom and gloom you may be hearing we are still helping families move and we are here to take care of you and your friends Info@KathyToth.com
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Click here to search all Ann Arbor area Michigan homes and condos with pictures and tours - FREE!
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