Who is buying in Ann Arbor? And how long is it taking for units to sell?

Asked by Kim, Ann Arbor, MI Fri Aug 24, 2007

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Andy Piper, Agent, Ann Arbor, MI
Wed Sep 26, 2007
University of Michigan employees and U of M hospital doctors, nurses and admin people are buying. These employers are driving the market right now. Days on market is not always a good indicator as properties get relisted all the time - need to track total days for the property not the listing period.
Web Reference:  http://www.piperpartners.com
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Kathy Toth T…, Agent, Ann Arbor, MI
Sun Aug 26, 2007
We track the days on market on
Average days on market for condos are 87 and 97 for homes.
My Ann Arbor buyers consist of young professionals and relocation clients.
You can also check the monthly days on market for condos and residential properties at
Web Reference:  http://www.KathyToth.com
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Missy Caulk, Agent, Saline, MI
Fri Aug 24, 2007
I have sold to a number of physicians moving into Ann Arbor, as well as Domino's employees. Selling varies by area, location and condition. A home or condo priced correctly and in move in condition are the ones selling first.
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smith3gary, Agent, White Lake, MI
Fri Aug 24, 2007
Kim, Todd is an expert in the AA area. many agents rely on his information.
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Todd Waller, Agent, Ann Arbor, MI
Fri Aug 24, 2007
The folks currently buying in today's market are those that:
a) need to buy due to a relocation, change in life style, etc;
b) want to buy because they see an opportunity.

As for how long it is taking to sell a home/condo, check out my Team's blog for inventory statistics. Depending upon the area you are in and the price point your home is at, determines the number of months it will take an average home to sell. Specifically check out the 2nd Quarter Inventory Reports as they are the most recent.
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