Washtenaw County Home Values On The Rise

Information provided by the Ann Arbor Board of Realtors which includes data pulled from the Realtor MLS ( or multiple listing service ) is showing a positive swing for Washtenaw County homeowners.

The busy spring market has continued through the summer, with July sales of all property types up 14 percent, compared to last year.  Sales of residential properties are up 6.6 percent over last year with 353 units sold.  98 condos were sold in July, an increase of 46 percent over July 2011.

Year-to-date sales of all property types are up almost 7 percent compared to last year, posting 2.535 sales, compared to 2,374 last year.  The average residential sales price is $237,796 for July, an increase of 12 percent over the average sales price of $212,663 in July 2011.  The average year-to-date residential sales price is $208,785, an increase of 9.1 percent over last year at this time.

WHY ITS A GREAT TIME FOR YOU TO LIST YOUR HOME: 

Inventory for all property types of declined by 10 percent; from 664 in July 2011 to 596 in July 2012.  Lawrence Yun, National Association of Realtors chief economist, noted that “inventory nationwide continues to shrink and that is limiting buying opportunities.  This, in turn, is pushing up home prices in many markets,” he said.  “The price improvement also results from fewer distressed homes in the sales mix.”

The chart below compares last years homes listed for sale to this years homes listed for the month of July for the following areas: Chelsea, Dexter, Manchester, Whitmore Lake, Saline, Lincoln consolidated, Milan, Ypsilanti and Ann Arbor.

 

I have been stressing this to potential clients for many months now, buyers need more homes to choose from.  With my experience and knowledge Contact me to discuss marketing, updating and listing your home.

If you are a buyer please use this link to search for you new home.

 

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Dexter Michigan Real Estate Agent. Providing professional full time residential home sales expertise throughout Washtenaw County.

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