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After the whirlwind pace of spring and summer, September residential real estate activity showed a very slight slowdown compared to a year ago, according to figures released by the Ann Arbor Area Board of REALTORS®.

336 single-family residential properties were sold in September, a decline of 2 percent over the 343 properties sold in September 2014. However, year-to-date, 2,881 residential properties have been sold—a 14.1 percent increase over this time last year when 2,524 sales were recorded for the first 9 months of the year. Pending sales are up 55 percent over last year at 93 transactions for the month of September, compared to 60 last September. Based on the number of pending sales, it is likely that October closed sales will show an increase over last year.

New single-family residential listings were down 7.3 percent in September, with 411 listings posted, compared to 443 in September 2014. Year-to-date, listings were slightly up by 2.4 percent over last year with 4,411 new listings on the market, compared to 4,306 in 2014.

The average residential sale price was up slightly over last year at $254,904, compared to $252,954 in 2014. The average listing price was slightly lower in September at $259,782, compared to $261,187 last September.

Year-to-date numbers in all categories show an increase over last year, with the exception of new condo listings, which are down 6.6 percent for the year. Total numbers of listings, total numbers of sales, dollar volume, pending sales, and average listing and sale prices are all up over last year. The market continues to exhibit strong activity, landing the local area on several "hot market" lists across the country.

See more housing statistics for September here.

 

SEPTEMBER 2015 STATS2 Page 2

September 2015 Stats Charts Page 3

September 2015 Stats Charts Page 3