Lisiting are up and sales are down in Ann Arbor, Mi. Most of the home sellers are feeling the brunt of the huge inventory.
Average list price in April was 260,708. That is down 5.5% from April 2006. The overall average is also down by 9% from Jan 1 2006 to Jan 1,2007.
There was 4.7 months of inventory added to the market in Washtenaw County. For instance, a home purchased in 2005 was bought for 439,900. It hit the market a few weeks ago at 429,900. Two weeks later it was reduced to 355,000.
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Market data is taken from the Ann Arbor Board of Realtors and compiled by Big House Data, located in Ann Arbor, MI