Let June be no different then the months before! It is time for monthly housing statistics from Big House Data!
From the Big House Data Executive Summary:
The effect of the Pfizer relocations will be felt for a time in Washtenaw County. Anecdotally, the post-buyout list prices are particularly aggressive. With this aggressive pricing, Pfizer is
selling their properties, but the non-Pfizer owners in those neighborhoods will be dealing with lower property values as a result if they decide to put their property on the market. This
anecdote goes a long way to emphasize the power of the convergence of price and quality. Obviously, the prices on these Pfizer relocation properties is such that the market is responding favorably and snapping them up before competing homes that, comparatively, are over priced.
The average List Price for housing in the Ann Arbor Area Board of Realtors was $227,645. This is a roughly $20,000 increase from May. It may be that the initial Pfizer relocation sell-off hangover is nearly over. A few more months will show us for sure if this is the case
The average Sales Price for housing jumped to $221,784 in the Ann Arbor Area Board of Realtors. This means that an average home in Washtenaw County cost an average of $221,784. Interesting when compared with June 2006 and June 2005 with average Sales Prices of $247,086 and $249,129, respectively.
Number of Closing v Number of Listings
Here’s a new chart for regular readers of the Team366 Blog. This is a three year trend of the listings (red) to closings (blue) per month. The associated twelve month moving average trend line simply shows the momentum that the market currently has.