Are home selling in Ann Arbor ?
Yes, actually the number of homes selling are up. Now the problem for sellers is the prices are down. Boo...........
If you want to see the charts go to Ann Arbor Real Estate Talk to see the graphs and charts, with year to date comparisons, the inventory and sales prices.
There will ALWAYS be a need for people to buy and sell. Right now, we are in a Buyers Market as are most states. So really all that means is that the buyers have more to choose from and those homes that are selling are in great condition.
The forclosure's and short sales are still accounting for 1/2 of all the sales.
This is forcing home sellers who to lower their prices to stay competitive with the current market conditions.
The average price for home sales in Washtenaw County was $250.315.00 down almost 15.5% from September of 2007. What that means is on a home that would have sold for $300,00.00 in September of 2007, is now able to sell at a value of $245,000. Of course this is just an example as many home are selling for 3-5% under asking price.
Homes in Ann Arbor are typically selling closer to 5% under asking price. Homes in the outer county as we like to call it, like Saline, Dexter, Chelsea, Milan, Ypsilanti, Milan and Manchester figure into that average.
See the September Charts at Ann Arbor Real Estate Talk.
Missy Caulk & Team can be reached at 734-926-9797 or email: Missy@MissyCaulk.com
Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
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Hi Missy,
You're right, there is always a need for some folks moving. So 1/2 of your sales today are foreclosures, that's only a little more than my area of SoCal that's about 42%.
Great to see that the housing market is picking up for you guys. And you are right there are always people buying and selling who need to move.
Price is so important your information on the area is just what sellers need to see.