Fall residential real estate sales have moderated a bit from the summer frenzy, according to data released by the Ann Arbor Area Board of REALTORS®.
Sales activity remains strong—343 single family residential properties were sold in September, an increase of 1.5 percent over last year at 338. 94 condominiums were sold in September, a 49 percent increase over the 63 units sold in September 2013. Total sales of all property types are up 11 percent for September at 470, compared to 424 last year. Year-to-date, 3,474 properties of all types have sold through September 2014, which exactly matches the number of sold properties for this same time last year.
Residential listings are up 5 percent for September, at 443, compared to 420 in September 2013. For the year, 4,306 single family residential properties have been listed, an increase of 2.7 percent over the 4,194 listed by this time last year. As the number of listings have increased, prices have moderated slightly. The average residential sale price for September was $252,954, a decrease of 2 percent over the average sale price of $257,998 posted in September last year. However sale prices for the year are up 5.9 percent at $264,309, compared to $250,029 at the end of the third quarter last year.
See more September housing stats.
