Sales are up, days on market are down and the average sale price is inching higher.
February data from the Ann Arbor Area Board of Realtors, released this morning, indicates some positive signs for the local housing market.
According to the numbers comparing February to the same month in 2009:
• Home sales climbed 19 percent to 166 units. • Condo sales climbed 48 percent to 38 units. • Dollar volume grew by over $5 million, totaling $27,730,073. • Days on market tightened for both homes (12 percent) and condos (23 percent). • The average list price fell by about $2,400 but the average sale price climbed by almost $3,000.
Year-to-date numbers show the market improving by $12.6 million, and the report is the second consecutive monthly improvement.
New listings for homes has stabilized - even as the condo listings grew by 42 in February - preserving the drop in the number of homes coming onto the market. That trend has been visible since 2009.
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