Ann Arbor Real Estate Report – January 2019

More Inventory but Less Sales for Ann Arbor HomesAnn Arbor Home Inventory is Rising

Ann Arbor homes are starting off this new year strong with 67 homes being entered into the multiple listings service, this is an increase of 21% compared to the 55 last year.  A total of 39 homes were sold, which is a significant 29% decrease compared to the 55 sold homes last January. Considering only the listings that were entered in January, not inclusive of those that have been on the market longer, 70% of the 67 homes were sold. Unfortunately for sellers, the average days on the market is 45, meaning that many homes entered last month have not yet sold; this is an 11.8% increase from 2017 though. Luckily for buyers, both listing and selling prices declined compared to the prior January. The average listing price dropped from $494,222 to $446,662, a 9.6% difference. There was less of a difference between the average selling price this year and last, $421,420 versus $450,822, only a 6.5% decline.

The Bouma group is here to help you with all of your housing needs, whether you are looking to buy or considering listing your home, contact the specialists at (734)761-3060 or email info@bouma.com. Stay tuned for consistently updated information about Ann Arbor homes and surrounding areas!

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