Consistent Sales Compared to the Previous July
Luckily for Ann Arbor sellers, the number of sales this July was similar to that of last July’s, a total of 148 homes were sold versus the 149 prior, a minimal decrease. The amount of listings that entered the market was a greater difference however, from 191 to 164 recently, making a 14.1% decline. There was an 8.8% increase in the average listing price, $484,466 versus $527,078. As well, the average selling price saw an increase, from $450,120 in July 2019 to $481,242, a rise of 6.9%. Although the amount of sold homes is good news for sellers, unfortunately the average number of days on the market is not – there was a 45.8% increase to 35 days.
As for the year-to-date statistics, they do not deviate much compared to last year’s numbers. A total of 1095 listings have been added to the market this year, a 12.5% decline from the 1252 homes previously. The ALP has increased only minimally, from $509,944 to $515,582 currently. In comparison to the 758 homes last year at this time, there has been 624 homes sold so far this year, a 17.7% decrease. Cumulatively, the ASP is $462,174, which is a slight difference versus $463,571 before.
The experienced realtors with The Bouma Group are here to help answer all of your questions about the current and prospective housing market in Ann Arbor, contact us at (734)761-3060 or email info@bouma.com. Explore your potential future home here!