Sales are Up According to Ann Arbor Board of Realtors
The number of Home sales in Washtenaw County has increased as of September, 2012 compared to the same period in 2011, according to the Ann Arbor Area Board of Realtors. Virtually all segments of the real estate market are growing, with residential properties leading at 7.23 percent. Residential properties had an average sales price of $214,059 for September, 2012, an increase of 12.5 percent over the same period last year.
Washtenaw County Real Estate Numbers
In addition to residential properties, condo sales are up 6.1 percent, compared to this time last year, with an average sales price of $127,500. The average number of days that properties sit on the market has also improved, dropping from 76 in 2011 to 59 in 2012.
A Seller's Advantage
What do these number mean to you, an Ann Arbor area homeowner? If you've been waiting to sell your home until the economy improves, this may well be the right time to list your home. Although home sales prices have increased, the average number of listings is still lagging behind. In fact, there are 20 percent fewer properties on the market this year than in 2011. This means there are more people willing to buy property, but not more homes on the market. That's a recipe for selling your home quickly and for the top dollar possible.
Buyers are ready
Real estate sales figures aren't the only good news in the Washtenaw County and Ann Arbor area. Unemployment in our area is down to five percent, a decided improvement compared to previous years. In addition, mortgage interest rates are still at historic lows. According to the Ann Arbor Board of Realtors, many potential home buyers are already approved by their bank for a home loan and are just waiting to find the right property. Who knows? Maybe your house or condo is the new home they've been looking for.
