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Thursday, December 22, 2011

YES, residential home prices continue to trend upward!  If you listen to the national news media, you may find this hard to believe, but according to a recent report in Realtor.com, Ann Arbor's housing secor is "close to becoming a seller's market."

Higher sale prices reveal that year-to-date, we are up 2.5 percent over this time last year. 

Mortgage rates continue to remain low allowing you to affordably purchase more if you so choose. 

Employment in the area is improving as well.

If you have been sitting on the fence, now is the time to jump in.

Residential Statistics for November 2011





Location New Listings Sold Avg Sale $ Avg 
DOM
Ann Arbor 75 67 $317,024 68
Chelsea 17 8 $123,000 117
Dexter 20 11 $324,743 93
Lincoln 22 15 $126,033 61
Manchester 9 4 $215,500 60
Milan 14 7 $133,932 65
Saline 29 22 $289,081 90
Whitmore Lake 4 1 $178,500 17
Ypsilanti 21 15 $76,976 41



Condominium Statistics by School System -  November 2011





Location New Listings Sold Avg Sale $ Avg DOM
Ann Arbor 30 23 $128,404 56
Chelsea 3 2 $103,500 12
Dexter 0 1 $72,500 119
Lincoln 1 1 $22,000 39
Manchester 2 2 $40,950 105
Milan 0 1 $155,000 260
Saline 1 1 $129,085 479
Whitmore Lake 0 0 $0 0
Ypsilanti 2 3 $65,050 6




*Based on information from the Ann Arbor Area Board of Realtors MLS for the stated period
 Areas are based on school district.

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