Inventory Begins to Trend Downward for Ann Arbor
Inventory for Ann Arbor Real Estate appears to have peaked in June when there were 542 homes listed for sale in the school district. At the end of July, there were 515 homes for sale, down 5%. When compared with July 2013, inventory is around the same, but the number of closed listings is down slightly from 1267 to 1217, about 4%. Low inventory with steady sales continues to be the trend and is keeping Ann Arbor in an overall balanced market on the edge of a seller’s market with a 5.1 month’s supply of homes.
At The Bouma Group we have 4 full time, licensed buyer’s agents and they are all reporting that a lack of inventory is halting their buyers from making a purchase. With buyers ready to write an offer on a property when it becomes available for sale, the competition is more fierce and multiple offer situations are common. If you’d like to know more about the current Ann Arbor Real Estate market, whether you are a potential buyer and/or seller, contact us today at 734-761-3060 or email info@bouma.com. We track every aspect of the market by neighborhood, price point, elementary school and more and can help you make a stress-free move!