Washtenaw September 2019 Housing Report

Inventory—Although inventory is nearly level with last month, it’s 18% higher than it was a year ago.

Closed Units—Closed sales peaked in June and have declined each of the past two months—that’s typical. YTD sales are down 3% compared to last year.

Values—Prices continue to rise. YTD average sale price moved from $340k last year to $351k and average price per square foot went from $176 to $185. The upper-end market (over $600k) saw the biggest increase in both sales and values.

Summary—Although closed sales are two months into their season decline and the YTD figure is down 3%, moderate price increases have YTD volume higher than it has ever been—nudging out last year by 1% and 2017 by 3%. The upper-end market segment continues to expand with the biggest increase in both sales and value.