facebook  twitter  linkedin  youtube  Pinterest  google

October Residential Sales Remain Strong

October residential real estate sales remain strong, with activity very similar to October 2014, according to statistics released by the Ann Arbor Area Board of REALTORS®.

316 single family residential properties were sold in October 2015, compared to 314 sold in October 2014. 71 condos were sold in October 2015, compared to 69 a year ago. Thanks to robust activity earlier in the year, year-to-date sales for single family residential properties are up 12.7 percent compared to the first ten months of 2014, with 3,201 total sales through October 2015, compared to 2,840 at this time a year ago.

New listings for October are slightly down from last year, with 423 new single family residential properties coming onto the market, a decrease of 3 percent from the 436 new residential listings in October 2014. Likewise, new condo listings are down 16.4 percent at 77 new listings in October, compared to 92 a year ago. Total new listings for the year, including all categories, are up slightly at 6,760, compared to 6,724 at this time last year.

The average listing price for October moved slightly lower from last year at $255,181, compared to $261,829 in 2014. The average listing price year-to-date, based on ten months of activity is up 3.2 percent at $278,494, compared to $269,766 a year ago.

The average sale price in October was also slightly lower than last year at $249,085, compared to $254,754 in October 2014. The average year-to-date sale price for single family residential properties was up 3.9 percent from last year at $273,590, compared to $263,221 after the first ten months of 2014.

"Despite persistent inventory shortages, the housing market has made great strides this year, backed by an increasing share of pent–up sellers realizing the increased equity they've gained from rising home prices and using it towards trading up or moving into a smaller home," according to Lawrence Yun, National Association of Realtors Chief Economist.

To see more housing statistics for October 2015, please see the attached PDF.

 

October 2015 Stats Charts

 

 

You are here: Home News October Residential Sales Remain Strong