Paula Gardner at the Ann Arbor Business Review has this article on the state of the Washtenaw County residential real estate market. And while I simply can’t argue with the facts and figures (here are my stats), I would go one step further. I would point out that while the market is not as hot as even last year, the residential real estate market is still keeping pace with the fourth best market this area has ever seen, 2003.
2003 saw 4,070 closings that year on Washtenaw County residential properties. While the average sales price in 2003 was $253,949, in 2006 so far, the average sales price is $262,342 with 3,226 closings, as of September 30th.
From the article:
The key to sales, many agreed, was proper pricing based on condition and comparable properties on the market.