Realtors in Ann Arbor, Michigan say the town is so hot that there is relatively little inventory for sale.

"Washtenaw County is like no place you've ever seen!" exclaims Realtor Alex Milshteyn. "University of Michigan, Eastern Michigan University, Washtenaw Community College, Cleary University, and Concordia University have campuses in the Washtenaw County area. The real estate market is booming. The spring market started early this year and I am happy to say that I see more and more homes much sooner than they would if they were listed in previous winter months. The number of homes listed per week has been increasing since the beginning of the year as well as the number of homes sold per week. I expect that the market will continue to grow throughout the spring and we will have one of the best years ever."

Milshteyn advises, "There is a large demand for housing in downtown Ann Arbor, Kerrytown, Old West Side, and Depot Town in Ypsilanti, while the supply of homes is non-existent. I have several people who have contacted me to find a home in these areas and currently there are no homes listed in these areas. I expect that the market in those areas will be extremely hot this year, and many homes in those areas will end up selling for above list price."

Says Realtor Kathy Toth, "There are 496 homes for sale with average days on market of 72, and 326 condos for sale with days on market of 71. It's a growing area with two universities and major hospitals, many parks and recreational areas nearby, and lots of school involvement. Make time for our famous art fair in July, when the downtown streets are alive with juried vendors, jugglers, and food courts for three days."

"A small but large city, Ann Arbor has all the culture and amenities of a large metropolitan area, but minus the overcrowding and hectic lifestyle," says Realtor Susan Fecteau. "Not just a college town but a multifaceted community that is hard to resist once you've been here, full of recreational, cultural, and employment opportunities. Ann Arbor was settled in 1824 along the Huron River and now boasts a wide-ranging collection of neighborhood and community parks, nature trails, and recreational facilities. The cultural opportunities range from world-class productions, to neighborhood theater, from major symphonies, to talented local musicians. Mix this with the area's restaurant/bar boom and you never have to ask yourself what to do next. Sports fans can enjoy the varsity offerings of two major universities: EMU and the University of Michigan boasting the largest college football stadium in the country. Art enthusiasts will enjoy the various street fairs and winter art fairs of Ann Arbor which attract artists and shoppers from around the world. This being so, the area has become the home of many art galleries and shops for year-round original art-hunting."

Fecteau continues, "Ann Arbor is still the town people are drawn to with it's quaint downtown shopping district, eclectic population, and cultural diversity. With interest rates just starting to inch up, this is a very good time to buy your first home, buy a home in that neighborhood you always wanted to live in, or move to that larger house! There are signs that the spring market is emerging, as buyer traffic starts out ahead of available Inventory -- so now is a good time to consider putting your house on the market."

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Published: February 21, 2005

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