John Clark's Ann Arbor Blog

Lovingly maintained during almost fifty years of ownership, this sunny home boasts hardwood floors, a huge screened porch, and large eat-in kitchen. Freshly painted interior. Plus storage galore! Wonderful lot backs to Bromley Park. Minutes to North Campus and hospitals. Convenient to shopping, bus lines and expressway. You will love living in this popular neighborhood.

Using data provided by the Ann Arbor Area Board of Realtors, prices are improving in 2011 as compared with 2010. Through July 31, 2011 the average sale price for residential transactions within the Ann Arbor School District was $301,609 as compared with $287,471 for the same period in 2010. The median price for 2011 is $246,150 while in 2010 the median was $237,500. This is a result of a slight reduction in the inventory of available homes for sale. Total sales units so far in 2011 stand at 536 while in 2010 we sold 545 residential properties through the end of July. Based on prior year’s experience, residential home sales units should finish the year at a pace that is approximately equal to 2010.

The Ann Arbor residential real estate market is off to a better start than last year. The statistics published by the Ann Arbor Area Board of Realtors for the first quarter 2011 show positive movement in the city of Ann Arbor. The average sale price is up for the first quarter by 8% to $305,209 while the median price is also up 8% to 244,000. Sales units are up 16%. At present 579 properties are on the market with an average asking price of $394,623.

The first two months of 2011 have shown a better than expected sales rate that has averaged 179 units per month. Overall 2010 sales dollar volume exceeded 2009 by 4%. That reversed a steady decline going back to 2004. Sales units in 2010 were up 3% to 3,117 while the average price was up 1% to $186,217. The median price remained flat at $146,623. It is still early in the year but with the spring market upon us, things are looking better than they have in a long time.