Ann Arbor Condo Market Slows After Strong Summer
The hot selling season, typically April – August, has wound down and the number of condos listed for sale, contracts pending, and closed listings all continue to decrease. When compared with this years high in May, listing inventory is down 35% and contracts pending with buyers is down 54%. Closed listings are actually a bit higher than in May, but with dwindling inventory and pending sales we will see that number begin to decrease. With such a strong spring and summer market this year, condo values have risen significantly, allowing many owners to list their condos when they were previously upside down in their mortgage.
We anticipate a very strong market for Spring 2014, so if you are thinking of listing your unit for sale in the near future, contact us at The Bouma Group at 734-761-3060 or info@bouma.com for a market analysis so you are ready! We’ve sold more Ann Arbor Condos than any other agent in Washtenaw County for the past 15 years and can get your unit sold for top dollar! See our track record and view our Sold Listing portfolio here!