Home Buying in Ann Arbor>Question Details

Marvin Face, Home Buyer in Ann Arbor, MI

what is the average price per square foot for homes in ann arbor recently?

Asked by Marvin Face, Ann Arbor, MI Wed Apr 1, 2009

specifically in the central ann arbor area...not outlying areas if that matters.

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3
Hi Marvin,
If you go down to the Ann Arbor tax assessor's office, they actually have a map with "neighborhood values," as $ per square foot can be influence by the area. As with any statistic, this one has many variations behind it. Sometimes, it is just plain logic. Is the home or condo newer? Does it have a finished lower level (not counted in the sqaure footage.) A smaller home will skew toward larger $ per square ft since a larger %age of it is probably kitchen and baths, more expensive rooms.
So use it as a guide, but one that is not at all hard and fast. The variation in the statistical significance, when you are pricing just one home, is great.
Let me put in my plug for dealing with a Realtor here. We not only have the sales figures, but we are out in the market day in and day out, and have a well-honed knowledge of prices. When you want to price a home for sale or for purchase, have your Realtor do a Comparative Market Analysis for you, to show you a likely price for the subject home by comparing it to recent sales on the market.
AND let me not miss my opporutnity to say here, that I would be happy to help further with any Real Estate questions that you may have.
JoAnn Barrett
Edward Surovell Realtors
0 votes Thank Flag Link Thu Apr 2, 2009
Hi Marvin,
Your question was not clear to me so I used the sold data rather than the on the market data (they should not be too different).
The average square foot price of the sold houses last month was $124. per sq ft but the high $ per sq ft was $448. Certainly the neighborhood matters but to answer your question directly the answer is $124.per sq ft. . Last year for this same time period it was $130 per sq ft with a high of $237. Feel free to call me directly for any clarification or further discussion.
Good luck in your quest for good answers.
Respectfully,
Todd Lands,
734/ Mi-LANDS (645-2637)
0 votes Thank Flag Link Thu Apr 2, 2009
Marvin, there is no average. It depends on the ammenites, closest to downtown and U of M. Those have dropped less. If you give me a neighborhood I will let you know the average for that specific area.
0 votes Thank Flag Link Wed Apr 1, 2009
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