The Ann Arbor Real Estate market is underway for 2009. With two months behind us, let’s review some numbers. Below is a brief video discussion on the housing market here in Washtenaw County. “Below the fold” are the charts and some more discussion.
From the BigHouseData Monthly Summary:
So the first two months of 2009 are done and the numbers are in. As everyone “knows in their bones” sales price continues to decline, as does the volume of business being closed. Two silver linings for the Washtenaw County housing market though: the pace of new listings coming on the market is down and the number of closed transactions is not down precipitously.
BigHouseData believes there may be a couple of reasons for the decrease in the number of transactions. However the biggest has to be uncertainty. Uncertainty over which direction Congress would go with their stimulus package. Uncertainty in the economy, jobs, etc. All the talk of the economy’s stumbles makes buyers (and nearly everyone else) nervous.
Average List Price – Month 2008
The overall average list price in February was $216,408, down over 15%compared to February 2008.
Average Sales Price – Month 2008
February saw an average sales price of $133,206, down nearly 43% from February 2008.
Number of Listings v Closings – Month 2008
# of Closings:127 closings in February 2008, down over 21% compared to February 2008.
# of New Listings: With 497 new listings in February 2008, that represents a nearly 32%drop over February 2008.
Description: Todd Waller, a self described "destroyer of the real estate fortress of suckitude," focuses on helping sellers and buyers in Ann Arbor, Canton, Livonia, Northville, Novi, South Lyon, Plymouth, and Ypsilanti