The July market in the Ann Arbor Area market is up 14% from July of 2011.
Let’s break it down so you know what is happening. Last year the average sale price is Ann Arbor was $216,333.00 this year the average sale price is $237,769.00. That is an increase of 12%.
98 condos closed in July, that is a 46% increase since last July for condo sales.
Here is a graph to show you the trend of home prices since January 2012.
What is happening in the various school districts in Washtenaw County?
National housing market data does not always reflect the local market so be careful what you hear and read from National publications. When we as Realtors start to see multiple offers on homes that are not foreclosures we know the market is good. There is a shortage of inventory in Ann Arbor and the demand has been very high for housing. Looking for a rental? Forget it!
To stay up to date on local Ann Arbor housing data you can subscribe to my reports and be sent a report monthly on the changes. Know when home prices are going up in your area. We need more homes to sell right NOW in Ann Arbor. Interest rates are amazing, inventory in low…affords an opportunity to list your home and sell now.
See you next month with August data compiled by the Ann Arbor Area Board of Realtors.