Washtenaw County which includes Ann Arbor, Saline, Dexter, Chelsea, Milan, Manchester, Ypsilanti, and Ypsilanti Township is experiencing 17 months of inventory. The 17 months is determined by the number of houses sold and the number of active listings on the market and how long it will take those houses to sell.
The homes moving the fastest are those homes priced between 100,000 and 199,000. There is only 11 months of inventory for those homes, which bids well for the First Time Home Buyers wanting to move into Washtenaw County. Lincoln Schools which is in Ypsilanti Township has the lowest inventory with Manchester having the most at 48 months.
The slowest market is the million dollar market with 75 months of inventory. Pfizer post buy-out homes are selling well and the buyers able to pick up those homes are getting tremendous values. They are beating out the competition in just about every sub. The long term effects of this for values across Washtenaw County is unknown at this time, but in a few months appraisers will be using those homes to justify sale prices throughout the county. 
Missy,
Now those are some amazing stats! 75 months for upper end properties, yikes. Guess some really need to plan ahead...years ahead. No doubt folks really need to be realistic to market their homes.
At our MLS meeting today it was reported we are at 8 months for Orange county.
Lynda, 8 months for Orange County is alot.
Ashley, I hope so, because many people got caught up in the refi, the sky is the limit. Now that homes have come down they have houses that are financed for more than they originally paid.