Today Ilyse Glick posted on the CBS Money watch about the biggest winners and losers in the housing market.
The Ann Arbor Area Board of Realtors also posted the data for January 2011 vs January 2010 and to quote:
Real estate sales for January 2011 are up 15.7 percent over January of last year, according to data released by the Ann Arbor Area Board of Realtors. Sales of single-family homes are up 8.5 percent and condominiums posted an increase of 26.6 percent over last year. These
numbers follow strong activity in December, capping a year of positive gains for 2010.
The average residential sale price shows a modest increase over last year at this time, at $167,745.
As a working Realtor in the Ann Arbor Area, I can say our inventory is down. That is the biggest thing I am seeing. I'm not sure if more people who have been holding off listing there homes will start to rethink that or not. Many sellers in Ann Arbor have waited for the market to return. The market returning to what? I believe it will be several years before we get back to the peak of the market in 2006.
For now I am just happy that the inventory is going down and that is forcing the prices up a bit.
According to Ilyse Glick the price increase was 11.3% in Ann Arbor.
In Ann Arbor our MLS is set up by school district so that is how you see the results.
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