Year-to-date Prices Only Rise Slightly
In the month of October, 110 Ann Arbor homes were listed for sale and this is a 15.8% increase compared to the 95 homes sold last year. The average listing price declined slightly from $483,085 to $458,760, a 5% drop. A total of 83 homes were sold in the past month, and this is a minimal decline compared to October 2018. The average sale price for Ann Arbor homes increased by 14.9% from $416,435 to $478,428. Unfortunately for sellers, the average days on the market for homes has raised a significant 47% from 38 to 54 days presently.
Looking at the year-to-date statistics, we can see that both listing and selling prices have only somewhat increased. The ALP so far is $506,066 and this is 3.6% higher than before which was $488,423. There has been only a slight decline in the amount of listings entered, from 1381 to 1387 homes. Similarly, there has been little difference in the amount of sold homes as 934 have been sold thus far compared 940 previously. The ASP cumulatively sits at $461,552, which is 5% increase compared to $439,512 at this last year.
The Bouma Group is here to help with all of your housing needs, whether you are looking to buy or considering selling, contact the real estate specialists at (734)761-3060 or via email firstname.lastname@example.org. View more Ann Arbor neighborhoods here!