Thursday, November 15, 2007

November Market Statistics

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In my previous post, we learned about the market statistics from the Ann Arbor Area Board of Realtors.

As you all know, I review our market statistics around the middle of each month.

What I'd like to focus on this month is the overall strength of the market in, and around, Ann Arbor.

The chart above shows 2 lines. The top line shows the number of homes available for sale (listings) in the Ann Arbor area. The lower line shows the number of homes sold each month. I've been collecting this data since 1996, so you can see some trends in the data. There is a definite seasonal trend for both listings and sales, but more pronounced for sales.

The great news is that the number of sales is rather consistent! The overall number of sales is down slightly (as you'll recall from the previous post, sales are down about 11% compared with the same period in 2006). But many homes are selling each month!

In another previous post, we learned about the three "P's" that you control when you sell. The homes that are selling now are those that have consistency between the three "P's". Go back and check that post for a reminder.

So, if you're looking to sell in this market, take heart! Call me!

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