Ann Arbor Realtors Sales Report

Photo: Elvert Barnes

Ann Arbor Realtors Sales Report

Sales activity by Ann Arbor Real Estate Agents for the first four months of 2011 has just been released by the Ann Arbor Area Board of Realtors.

April’s sales volume represents a 9.8% increase over March. April’s total units were 337 and total units sold in March were 307.  While a comparison of activity to April, 2010 shows a decline in sales activity, it is important to remember that last year’s activity was extraordinarily high due to the April 30, 2010 deadline for the homebuyer’s tax credit.

Ann Arbor Realtors generated a 20% increase in residential listings in April, 2011 as compared to April, 2010.  Even though residential sale prices have continued to decline in the region, year-to-date residential sales volume is even with last year.  Due to the stabilization and appreciation of housing values in the Ann Arbor School District, the year-to date average sales price of residential property for the greater Ann Arbor market   increased by 3.55 %.

Lawrence Yun, chief economist for the National Association of Realtors, recently said “Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing home sales should rise around 5 to 10 percent this year with sales growth of lower price homes likely to outperform high-end homes.  That means the price trend will reflect more homes sold in the lower price ranges.”

For additional information go to the Ann Arbor Area Board of Realtors web site: http://AAABoR.com or contact your Ann Arbor Realtors at Prudential Snyder & Company Realtors.