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First Quarter Housing Stats Show Steady Market

The first quarter of 2014 looked very similar to the first quarter of 2013, according to data released by the Ann Arbor Area Board of REALTORS®.

Buyers continue to compete for limited inventory. The total number of listings is down 5 percent from last year, at 587 for the month of March, compared to 617 in March 2013. Listings year-to-date are down 7.5 percent, at 1,499, compared to 1,619 at the end of the first quarter in 2014.
 
Sales for all property types are on par with last year, with 288 sales in March 2014, compared to 282 last March. Year-to-date sales mirror last year with 741 at the end of March, compared to 738 at the end of March 2013. The average sale price for March dropped 7 percent to $229,184, compared to $247,941 a year ago, however the year-to-date average sale price is very comparable to last year at $230,084, compared to $228,007 in 2013. Listing prices for the first quarter followed a similar trend with a very slight increase over last year, from $235,898 in 2013 to $237,492 in 2014.
 
For more March statistics, see this PDF.
 
March Stats Charts

 

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