March real estate market data

The Ann Arbor Area Board of REALTORS released the market statistics for March. The stats show that the market in Washtenaw County is stabilizing. The average list and sale prices are almost identical to March 2007. One of the most striking factors reported is that the number of listings has decreased from 1621 (3/07) to 1207 (3/08). This is excellent news for people trying to sell their homes. According to the National Association of REALTORS, "Little change is expected in existing-home sales over the next few months, before improving notably during the second half of the year." I am excited about the improved outlook for my profession and for my clients!