On of my good friends, Brad Andersohn, just recently left Activerain and went to Zillow. Over the weekend, he pulled up a chart of historical data for some of the big metro area’s in the United States.
I asked him on his blog post, if this could be done just for Ann Arbor.
Below is the historical data for Ann Arbor from Zillow. I don’t always agree with Zillow’s zestimates, but Zillow is good about encouraging consumers to work with a local Realtor to find out the true value of your neighborhood.
You can see from the chart our market peaked in 2006. This I would agree with, as Pfizer announced their leaving in January of 2007 and that is when we experienced our biggest downturn.
One of my clients recently sold her home on a short sale in Saline. She had purchased it as a foreclosure in 2008 for 100,000 less than it was built for in 2007. Sounds like a good deal right?
Unfortunately, when she needed to sell in 2010 the market had continued to come down so we sold it short for $350,000.
For most of the Ann Arbor area homes for sale the market has stabilized, so that is a positive sign.
- Ann Arbor Elementary Schools Price Per Square Footage (annarborrealestatetalk.com)