September Monthly Homes Report

This month’s Washtenaw County Homes Report is out!  Directly from the Big House Data Executive Summary:

For the three years of data reflected on these charts, September 2007 is the lowest average sales price for the combined home and condo market in Washtenaw County.  The good news, and there are silver linings here, is that properties are selling, and that the twelve month moving average trend line for sales is flattening!  This indicates a momentum shift in the positive direction for closings compared to the prior twenty four months.

If you are a buyer in this market, you have never, and likely will never, see this kind of market again!  High inventory, prices readjusting to normalcy, a historically low cost of money and hungry Realtors®.  Buy NOW!

Ouch, lowest average sales price in 36 months!  Team366 stared at the numbers and realized that so far this year, 20.6% of the listings on the market have sold.  Compared to last year, when 30.1% sold across the same time frame, that represents a nearly 32% drop in the likelihood a listed home will sell.  So right now, an active home has a one in five chance of selling!

Now, of course, this assumes an average home, at an average price, with average marketing!  Team366, with the help of these stats, and our professional marketing system, is selling 65% of our listings this year.  Give us a call at 734.330.2392 to learn more.

For now, let’s see some charts!

Average List Price – Washtenaw County Housing

Sep07Chart_Page_02The average list price for housing listed in September was $237,517. For the three quarters of 2007, the average list price is down 3.5% compared to the first three quarters of 2006.

As you can see, the average list price has been diving (according to the 12 month moving average trendline) since March of 2007.  This is an encouraging trend to see as the market adjusted and continues to adjust, to the Pfizer withdrawal combined with the general readjustment of real estate values.  This means that sellers have learned that price is a factor in selling homes.

Average Sales Price – Washtenaw County Housing

Sep07Chart_Page_03

Now there is a price drop!  Wow!  The average sales price for September 2007 was $194,938. Year to date, the average sales price is down nearly 6.25%.  Year to date, the average sales price is $224,566.

While this is an amazing number compared to the prior 36 months, when the average monthly volume is down only 8% and the number of closing are down only 2.5%, the market is not presenting itself as dead, by any stretch of the imagination.

Number of Listings v Number of Closings – Washtenaw County Housing

Sep07Chart_Page_06

This chart shows that 2007 has been a banner year for listing homes, while the sales have remained relatively steady throughout the year so far.

This chart shows, beyond a shadow of a doubt, when most folks list their property.  If you need to sell your place, and are afraid of listing during the winter, look at this chart again and examine where your home will be able to gain the greatest exposure on the market with the least amount of listing competition.

There are some great reasons to list during the winter time, and fewer new listings hitting the market is one of them!

Technorati tags: , , , , , , , ,

2 Responses to September Monthly Homes Report

  1. Good Points – I enjoyed reading over your article, made sure to bookmark your site for future reference. Talk to you later.

  2. Now is the time to look at the market. As Warren Buffet said, “Be greedy when others are fearful.” The Housing Bubble is not bursting everywhere. They certainly aren’t in Alabama Arizona, Southern California, Florida or Nevada. Pockets of growth are thriving in places that really don’t make the headlines too often. They are worth considering if you are relocating, investing or looking for a retirement haven or second home

Leave a reply

2510 Banyan Ct, Ann Arbor, MI | New Construction
2510 Banyan Ct, Ann Arbor, MI 48103   Search Ann Arbor Homes » MLS: 3262670   [more]
18417 Westchester, Livonia, MI | Caliburn Estates Stunner
18417 Westchester Dr, Livonia, MI | Caliburn Estates Stunner | 4 Bedroom, 3.1 Bath, 2,716 sf, finish [more]
1212 Woodlawn Ct, Wolverine Lake, MI | Lake Community Living
1212 Woodlawn Ct, Wolverine Lake, MI 48390 Search Wolverine Lake Homes » [more]


todd waller | real estate | todd @ toddwaller.com | 734.564.7465

Homes of Ann Arbor

BeforeYouBuyAnnArbor.com

BeforeYouSellAnnArbor.com

copyright ©2024 | todd waller | sitemap | privacy policy

Todd Waller Real Estate
Local Business: Todd Waller
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
Website:
Location: 2655 Plymouth Road Ann Arbor MI 48105
Email:
Phone: 734.564.7465