The prices in real estate in Ann Arbor, in the Michigan region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Ann Arbor has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $257. In May this price pretty much remained the same at a value of $248 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $252.5 to $264 per sq.feet. The price per sq.feet has had a considerable deflation of 57 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $258.25 to $146.5 during August, and September.
Based upon to the price in Ann Arbor (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is $553,170. In May This price remains at $545,480. In the following two months the average price has remained the same with regard to the previous two months from $549,325 to $525,916.5. During the last two months the average price has had a strong fall compared to the previous four going from $537,620.75 to $253,312.5, which means a 47 % fall.