ANN ARBOR – The real estate market in Ann Arbor is known to be a hot one. In some price ranges, homes are snatched up within hours of being listed,

How is the real estate market in Ann Arbor?

A house down the street from me, three bedroom ranch with a slab foundation (i.e.: no basement) seems to have sold within a week about a month ago or so.  The house had been updated recently, has a fenced in backyard. We’re about 3 blocks from a paired elementary school and middle school (but only one street needs to be crossed.)  We’re two blocks away from city bus lines.  Another house (with a walk-out basement) has had a sign up for about two weeks now.

The realtor have been peppering my mailbox suggesting that now is a good time to sell since this past winter – but it might be slowing down now as it’s late in the season to prep a house for a family moving in before public school starts.

The Ann Arbor market is seasonal – the “slow” time is in the winter.

Like Jim Kenyon says, it seems to have picked up recently (based on my mailbox being peppered and watching signs on my drive into work) but I’ve not been paying attention to prices, other than the occasional article that talks about upward trends.

I’m not sure if it’s back to the craziness of the early to mid 2000s yet (where in some neighborhoods you could easily find a $500,000 “fixer-upper” with no backyard because previous owners had expanded the house multiple times) but it’s certainly waking up again with a wild look in it’s eye.