Jan 13 2010
Facts about the Housing Market in Ann Arbor, Michigan
These facts are true about the Ann Arbor real estate market:
- The closer to campus the more money per square foot will be paid for the property.
- Homes which can be walked/biked from and to campus/downtown are the most desirable (back to the first point).
- Homes which are in good condition sell faster.
- Homes on major thoroughfares take longer to sell or sell for less.
- The more expensive the home, the longer it sits on the market, generally.
We live in an area in which campus and downtown are like lakefront property, there are only so many homes and these homes are limited and the demand is high. The demand will not falter and even after the Ann Arbor market was hit with a major employer pulling out (Pfizer) we did see a softening of the market, but the first to come back are the homes within a mile or two of campus/downtown.
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