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Posted on Fri, Apr 13, 2012 : 11:23 a.m.

Report ranks Ann Arbor among top 10 metros with rising home values

By Lizzy Alfs

The Ann Arbor area is one of the only metros in the country that saw rising home values from February 2011 to February 2012, according to a recent report by Zillow.


Of the markets that posted the highest year-over-year gains, Ann Arbor ranked No. 7 on the list.

File photo

The Zillow Home Value Index, which tracks 165 U.S. metros, found only 13 metros posted positive year-over-year home-value increases.

Of the markets that posted the highest year-over-year gains, Ann Arbor ranked No. 7 on the list. Among the top three metros: Morristown, Tenn., Oklahoma City, Okla. and Tulsa, Okla.

The report cites a flood of foreclosures sales in February 2012 that contributed to a 4.5 percent decline in overall U.S. home values since February 2011.

Recent data from the Ann Arbor Area Board of Realtors show that 2011 represented a rebound in home values in five of eight school districts tracked.

In Ann Arbor, homes gained 3.57 percent in value last year based on sales prices per square foot.

At the same time, some areas — such as the Willow Run district — saw prices drop 7.66 percent in a single year, and 65.45 percent since 2005.

To read more about the Zillow report, click here.

Lizzy Alfs is a business reporter for Reach her at 734-623-2584 or email her at Follow her on Twitter at



Sat, Apr 14, 2012 : 9:48 p.m.

... Meaningless baloney - the only thing this tells us for sure, is that where angels fear to tread, fools rush in. Talk about grasping at straws.


Sat, Apr 14, 2012 : 2:58 p.m.

That's great news. I hate they have our house valued $50,000-$70,000 less than it's worth. They don't know anything about it,they don't know anything about the inside. It is wrong!!! They are going by our taxes which we have lived here for 25 years so they started out low. No one should go by


Sat, Apr 14, 2012 : 4:26 p.m.

Indeed, these are akin to drive-by appraisals. Unreliable. There's no substitute for being there.


Sat, Apr 14, 2012 : 1:55 a.m.

Michigan is a dump. I really wish I wasn't stuck here.

Dog Guy

Sat, Apr 14, 2012 : midnight

Rising home values is only one of the benefits in a city living on taxes from elsewhere. Life is good.

sam time

Fri, Apr 13, 2012 : 9:24 p.m.

Good news is good news.


Fri, Apr 13, 2012 : 8:59 p.m.

That's so weird. Because that doesn't tally with what their own website says. Is there some difference between how they calculate for the website and this report?


Fri, Apr 13, 2012 : 7:47 p.m.

Gee, maybe my house will soon be worth as much as I paid for it over 13-years ago! Here's hoping that I can soon sell it and move the hell out of this dying state!


Fri, Apr 13, 2012 : 5:27 p.m.

Thanks for the good news article. An interesting follow up might be on recent changes to the home value appraisal system used around Ann Arbor. What is the current relationship between this often over-looked but important sweet spot in home financing (and refinancing) and the growing use of internet-based comparables from Zillow, Cyberhomes, Yahoo Real Estate,, MLS Home Insight and others. Are these internet comparables or value estimates regarded as sufficient indicators to prepare a good faith estimate of settlement? Officially, no wink and nudge method of influence exists. How has this changed over the last 2 or 3 years?

Mike S

Fri, Apr 13, 2012 : 5:01 p.m.

Somehow this must be the fault of those darned permissive elite liberals.


Fri, Apr 13, 2012 : 4:27 p.m.

One thing we all can count in is that Ann Arbor will jack up our taxes.


Fri, Apr 13, 2012 : 4:22 p.m.

Lets hope the city doesn't jack up our taxes!


Fri, Apr 13, 2012 : 3:50 p.m.

Go Ann Arbor! (: