The real estate market in Michigan is showing signs of improvements with an increase in the sales prices of condominiums in Ann Arbor and sales prices of residential homes in Chelsea and Dexter. This was revealed by real estate agent Ann Toth who along with other realtors, are positive about the resiliency of the market.

The University of Michigan Institute of Labor and Industrial Relations reported that the economic crisis may not have hit the area harder than it should have due to the underlying resiliency of the Washtenaw County where Ann Arbor is located.

While Michigan is known for its $106.2 billion auto building and supply industry which includes Ford, Daimler-Chrysler, GM, Delphi Corporation and Lear Corporation, experts are looking are other reasons for positive real estate prospects in the area.

Real estate prospects for the area may become more positive considering the forecast of over 5,000 new job opportunities for the next two years.  Ann Arbor is the site of a world-class research university and boasts of a highly intellectual and educated population.

Crisis or not, the city council of Ann Arbor is bent on improving the city’s infrastructure by planning on expanding the downtown transit center and constructing underground parking on Fifth Avenue.