Washtenaw County home prices rise as number of sales remains flat in October
The average sale price for single-family, residential homes in Washtenaw County in October rose 4.8 percent from the same time period in 2010, according to the Ann Arbor Area Board of Realtors.
The average sale price for a home in Washtenaw County in October was $188,892. In Ann Arbor, the average sale price was $300,125, up from $248,321 in October 2010.
The average listing prices are also up 5 percent over last year.
Although average sale and listing prices increased in October, the number of residential units sold remained fairly flat in Washtenaw County.
The number of units sold in October was 210, a 2 percent decrease from the same time period last year when there were 214 units sold.
Lawrence Yun, chief economist for the National Association of Realtors, said in a news release that nationally, home sales growth has been flat this year.
He predicts that sales will increase by 4 percent next year, with home prices increasing by 2 percent. In 2013, he projected sales will increase 6 percent and prices will rise another 3 percent.