Ann Arbor Real Estate Report – November 2019

Year-to-Date Statistics Remain Stable

Although the year is coming to a close, Ann Arbor homes are still being listed with 60 new units having been added to the market this past month, a 53.8% rise compared to the 39 entered last November. The average listing price is sitting at $449,629, versus the $507,659 previously, an 11.4% decrease. Unfortunately for sellers, there has been a considerable 34% decrease in the amount of sold homes, from 97 in November 2018 to 64 this November. As for the average selling price, it is currently $439,220 and this is a minimal increase compared to the $430,073 the November prior. Presently, it takes 43 days on average for a home to sell.

Now examining the year-to-date statistics, the inventory amount has stayed fairly consistent. A total of 1444 homes of been entered into the multiple listings service thus far, and this is a minimal rise in comparison to the 1419 from last year. The ALP has also increased slightly, from $488,694 to $502,716. Exactly 1000 houses have been sold so far, and this is only a slight rise of 3.7% from the 1038 sold previously at this time. There has been a 5% increase in the ASP from $438,210 to $460,025 currently.

The Bouma Group is here to help with all of your housing needs, whether you are considering selling your house or purchasing a new home, contact the real estate specialists at (780)761-3060 or via email info@bouma.com. Check back here for the latest information about Ann Arbor homes!

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