February Stats For Washtenaw County

Now with property type specific stats

That’s right!  Big House Data has done it again!  Not only do they provide the only comprehensive stats package for Washtenaw County, they have now split the data between Condos and Homes!

HOmes:  Average sales price

Here is the chart showing the average sales price of homes in Washtenaw County.  Not only does it look like the slope on a hill in Colorado, the 12 month moving average trendline is following suit.

Condos:  Listings to Sales for 12 Months

Do those last two months of the chart, January and February, look significant to you too?  Holy smokes!  Nearly 600 condo listings in the first two months of 2007…whoa!  I know some larger developments have come on line recently, but that pace of listing does not jive with solely new condos coming into the market.

The Market:  Avg List price to avg sales price

A custom chart from Big House Data, I asked for a comparison of the Average List Price and Average Sales price of properties in Washtenaw County.  At left, you will see an interesting trend.  The 12 month moving average trendlines begin pretty close to each other, then begin to grow apart from each other around October 2005 to February 2007.  This is an interesting look at the dynamics in the market. 

As the seller’s market was peaking, list price and sales price averages were pretty close together.  Now the market has definitively shifted to a buyer’s market and the moving average shows:  1 – that sellers have been slow to see this shift, for whatever variety of reasons and 2 – buyers have been taking advantage of some of the seller’s pain by getting lower and lower sales prices.

As ever, the offer stands.  If you would like a full package of these stats, please email me at todd-at-toddwaller-dot-com.  If you are an agent looking to get a hold of Big House Data, email me as well and I will put you in touch with the guys!