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Washtenaw County home prices still rising despite mortgage hikes

Home for sale
Home for sale

Despite mortgage rates that continue to rise, average house prices in Washtenaw County are not dropping. In fact, two Washtenaw County towns are in the top 50 fastest-growing home price markets in the state.

According to the list of some 790 cities and towns across Michigan, Ann Arbor and Dexter have made it to number 44 and 41, respectively, in terms of home prices increasing the fastest.

The average cost of a home in Ann Arbor increased by 10% this past year and by 34% over the past five years. Dexter’s average home prices were growing even faster, increasing 37% over five years.

That the prices are rising was no surprise toAnn Arbor Area Board of Realtors President Tracy Rose.

“No. What surprised me is that they were, I think, 44th on the list. I would think they would have been much closer to the top."

At the top of the list was the small beach town of Harbert, Michigan near Niles, where home prices increased 83% over the last five years.

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Cathy Shafran was WEMU's afternoon news anchor and local host during WEMU's broadcast of NPR's All Things Considered.
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