Category Archives: Ann Arbor Market Updates

Ann Arbor Real Estate Report – October 2018

Both Listing and Sale Prices Rise for Ann Arbor Homes

This October, Ann Arbor homes have seen an increase in prices for both month-year statistics and year-to-date statistics. Overall, there has not been a significant change in the amount of inventory listed and sold. Only 1 additional home has been listed this month compared to last October when 94 were listed. The average listing price has increased 9%, from $442,683 to $483,085 October 2018. 86 homes were sold this month, which is a difference of 1 less home compared to last year. Unfortunately for sellers, the average selling price is below the ALP and the average days on the market have increased by 35.7% to 38 days. On average, homes sell for $416,435, which is 7.9% higher than last October when the ASP was $385,933. Looking at year-to-date statistics, there has been more inventory entered into the MLS this year compared to last year at this time. A total of 1381 homes have been listed so far, compared to the 1312 that had been entered at this point last year. The average listing price thus far is $488,423 versus $472,988, which is a 3.5% increase. Since the beginning of 2018, 940 homes have been sold and this is slight decrease of 2.9% in comparison to the 968 homes sold by October in the previous year.

Whether you are looking to buy or sell a home, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. For more updated information about Ann Arbor homes, check back here!

Ann Arbor Real Estate Report – September 2018

Ann Arbor Homes See an Increase in Both Inventory and Listing PricesHome inventory and prices increasing for Ann Arbor Real Estate

There has been growth in inventory for Ann Arbor homes comparative to last year’s statistics. With listing prices rising, sale prices have too; however, sale prices are still below the asking. This September, 137 listings were entered into the multiple listings service, this is an increase of 15.5% compared to the 110 listings entered last September. The average listing price saw a rise of 8.9%, from $488,176 to $530,567 currently. Unfortunately, only 71 homes were sold in September, which is a 22.8% decline in comparison to the 923 homes sold the previous September. Sale prices have seen an increase of 6.9%, $408,967 versus $437,082 this month. Luckily for home buyers, the average days on the market has lowered slightly to 26 days, from 28 days last September. So far this year, more listings have been entered into the multiple listings services compared to this time last year; but there has been a decline in the amount of sold homes. A total of 1286 homes have been listed for sale thus far, which is an increase of 5.7% compared to the 1217 homes sold at this time last year. There has only been a small rise for the average listing price of homes, from $476,195 to $489,791 which is approximately 3%. Like the increase of ALP, average sale prices have experienced the same growth. The ASP is $441,322 thus far, versus $428,494 last year at this time.

For more information about Ann Arbor homes, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Don’t forget to check back here for more about the market!

Ann Arbor Real Estate Report – August 2018

Prices Increase Overall but Homes Still Sell Below Asking PriceAnn Arbor Residential Report Chart

Both listing and selling prices are increased for Ann Arbor homes compared to last August, as well as compared to the year to date statistics. Luckily for buyers, homes are selling below the listing price. Only 1 more new listing was entered this August compared to the previous, totaling an entry of 134 homes. The average listing price this year was $481,072, which is an increase of 11.3% in comparison to the ALP of last August which was $432,104. For the amount of homes that are put on the market, a good portion of them are selling. Like the amount of listings entered, 1 more home sold compared to the prior August where only 128 homes sold. Another positive is that the average days on the market has decreased by 8%, from 24 days to 22 days now. The average sale price for August is $452,386, this is only a 3.2% increase compared to the ASP in August 2017 which was $438,370. Continue reading

Ann Arbor Hills Real Estate Update

Ann Arbor Hills Real Estate Report – September 2018Ann Arbor Hills, Ann Arbor Neighborhood of Executive Homes

Home sale activity in Ann Arbor Hills is mimicking that of last year at this time with 37 home sales year-to-date. There are currently 13 homes listed for sale, 4 more than last year.

Homes for Sale:

  • $1,500,000.  2320 Devonshire, Ann Arbor. 3974 sq. ft., +780 in finished lower level, 5 bedrooms and 3.2 baths.
  • $1,250,000.  1832 Vinewood, Ann Arbor. 3500 square feet with 6 bedrooms and 5 baths.
  • $1,070,000.  3080 Hunting Valley, Ann Arbor. 3016 square feet with 2099 in finished lower level, 4 bedrooms and 3.1 baths. Listed by The Bouma Group
  • $999,999.  3116 Overidge, Ann Arbor. 4005 sq. ft., +2072 in finished lower level, 5 bedrooms and 4.1 baths.
  • $950,000.  1116 Chestnut St. E., Ann Arbor. 2449 sq. ft., +580 in finished lower level, 2 bedrooms and 3 baths.
  • $875,000.  1942 Cambridge, Ann Arbor. 2270 sq. ft., +616 in finished lower level, 4 bedrooms and 3 baths.
  • $650,000.  1610 Kearney, Ann Arbor. 2592 sq. ft., +200 in finished lower level, 4 bedrooms and 2.1 baths.
    • For a complete list, contact us at 734-761-3060 or info@bouma.com

Continue reading

Hollywood Park, Ann Arbor Real Estate Update

Hollywood Park Real Estate Report – August 2018

Hollywood Park is a family friendly Ann Arbor neighborhood; the affordable homes come in a variety of layouts and styles. There are currently 4 homes listed for sale and so far this year, 7 have sold.Hollywood Park Subdivision Ann Arbor MI

Homes for Sale:

  • $357,900. 640 Duane Ct., Ann Arbor. 1560 sq. ft., + 208 in finished lower level, 3 bedrooms and 2.0 baths. Sale Pending
  • $349,000. 1272 Kuehnle Ct., Ann Arbor. 1428 sq. ft., + 700 in finished lower level, 4 bedrooms and 1.1 baths. Sale Pending
  • $319,900. 1106 Ravenwood St., Ann Arbor. 2180 square feet with 3 bedrooms and 1.1 baths. Sale Pending
  • $317,500. 773 Center Dr., Ann Arbor. 1074 square feet with 3 bedrooms and 2.1 baths.

Continue reading

Kirkway of Scio, Ann Arbor Real Estate Update

Kirkway of Scio Real Estate Report – August 2018

Kirkway of Scio is a recent Ann Arbor neighborhood in a tranquil setting; the homes look sophisticated especially with the tree lined streets. There are currently 2 homes listed for sale and so far this year, 1 has sold.Kirkway of Scio subdivision, Ann Arbor MI

Homes for Sale:

  • $469,900. 320 Sedgewood Ln., Ann Arbor. 2487 sq. ft., + 1037 in finished lower level, 5 bedrooms and 3.1 baths.
  • $389,900. 360 Sedgewood Ln., Ann Arbor. 2375 square feet with 4 bedrooms and 2.1 baths.
  • $369,900. 388 Sedgewood Ln., Ann Arbor. 2377 square feet with 4 bedrooms and 2.1 baths.

Sold Homes:

  • $466,600. 308 Sedgewood Ln., Ann Arbor. 2697 sq. ft., + 1100 in finished lower level, 6 bedrooms and 3.1 baths.

Last year at Kirkway of Scio subdivision, 4 homes sold with an average sale price of $376,250 and an average price per square foot of $170.00. The 1 home sold this year have an ASP of $466,600, up a considerable 24%, and an A$/SF of $174.00, up slightly. To learn more about home values at Kirkway of Scio, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

 

Ann Arbor Real Estate Report – July 2018

Increased Inventory for Ann Arbor Homes

Ann Arbor Residential Real Estate Report for July 2018

Compared to last month and last July, inventory has increased for Ann Arbor homes. As well, average sale prices have also risen for both this month and so far this year. This July, 7% more listings have been entered compared to the prior July, 146 homes versus 136. The average listing price saw a minimal decline compared to last July, from $491,264 to $490,390. Compared to July 2017, there has been a 5.6%  increase in the amount of homes sold this month from 124 units to 131. Although prices usually decrease with more available inventory, prices have actually risen for July. This month  the average sale price is $443,944, which is an increase of 11.6% compared to the ASP of $397,721 in the previous year. Luckily for home sellers, the average days on the market has decreased to 21 days. So far this year, 1018 homes have been entered into the MLS; this is a 4.3% growth compared to the amount of listings entered at this time last year. Unfortunately, only 655 homes have sold this year which is a slight decrease compared to 2017  which had 663 units sold. The average sale price for homes sold thus far in 2018 is $438,859, this is a slight increase in comparison to the ASP of $428,564 last year. It is still a seller’s market for Ann Arbor single family homes, with a month supply of 4.3. Homes priced from $500k to $800k are considered to be a balanced market. Like always, higher end homes, those above $800k, are a part of a buyer’s market. Continue reading

Hickory Grove Estates Neighborhood, Ann Arbor Real Estate Report

Hickory Grove Estates Real Estate Report – August 2018

Hickory Grove Estates is a friendly Ann Arbor neighborhood; the homes have character and many lots have mature vegetation which creates a sophisticated look. As well, the subdivision is located conveniently near a couple of expressways, making it easily accessible from many areas. There are currently no homes listed for sale and so far this year, 3 have sold.Hickory Grove Estates Subdivision Ann Arbor MI

Sold Homes:

  • $365,000. 5818 Glen Creek Ct., Ann Arbor. 2511 sq. ft. + 1200 in finished lower level, 3 bedrooms and 3.1 baths.
  • $323,000. 3051 Potomac Dr., Ann Arbor. 1997 sq. ft., + 850 in finished lower level, 3 bedrooms and 2.1 baths.
  • $287,000. 5826 Glen Creek Ct., Ann Arbor. 1793 square feet with 3 bedrooms and 2.1 bahts.

Last year at Hickory Grove Estates, 4 homes sold with an average sale price of $268,625 and an average price per square foot of $142.00. The 3 homes sold this year have an ASP of $325,000, up a considerable 21%, and an A$/SF of $156.00, up 10%.  To compare, the homes sold in 2018 have approximately 150 square feet more on average than the homes of the previous year. To learn more about home values at Hickory Grove Estates, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

 

Eberwhite, Ann Arbor Real Estate Report

Eberwhite Real Estate Report – July 2018

Eberwhite is a collection of Ann Arbor neighborhoods; the homes come in a variety of styles and layouts with both traditional and renovated residences. There are currently 20 homes listed for sale and so far this year, 28 have sold. Eberwhite subdivision, Ann Arbor MI

Homes for Sale:

  • $1,195,000. 6 Ridgemor Dr., Ann Arbor. 3865 sq. ft., + 1280 in finished lower level, 6 bedrooms and 3.2 baths.
  • $715,000. 256 Crest Ave., Ann Arbor. 2300 sq. ft., + 700 in finished lower level, 3 bedrooms and 2.1 baths. Sale Pending
  • $650,000. 576-578 Glendale Cir., Ann Arbor. 4120 sq. ft., + 2029 in finished lower level, 5 bedrooms and 5.2 baths. Sale Pending
  • $584,900. 108 S. Revena Blvd., Ann Arbor. 1742 square feet with 3 bedrooms and 1.1 baths. Listed by The Bouma Group; Sale Pending
  • $579,900. 429 Crest Ave., Ann Arbor. 1642 square feet with 3 bedrooms and 2.0 baths.
  • $575,000. 1402 Charlton St., Ann Arbor. 1754 square feet with 3 bedrooms and 1.1 baths.
  • $499,900. 1706 Pauline Blvd., Ann Arbor. 2496 square feet with 5 bedrooms and 2.1 baths.
  • $479,900. 1214 South 7th St., Ann Arbor. 2042 sq. ft., + 1600 in finished lower level, 4 bedrooms and 2.1 baths.

For a complete list of Homes for Sale at Eberwhite, Ann Arbor, contact us at (734)761-3060

Continue reading

Garden Homes Park, Ann Arbor Real Estate Update

Garden Homes Park Real Estate Report – August 2018

Garden Homes Park is a charming Ann Arbor neighborhood, the adorable homes surround a beautiful 11 acre park that is situated in the center of the subdivision. There are currently 4 homes listed for sale and so far this year, 4 have sold.Garden Homes Park Neighborhood Ann Arbor MI

Homes for Sale:

  • $280,000. 1521 Franklin St., Ann Arbor. 1410 sq. ft., + 200 in finished lower level, 3 bedrooms and 1.1 baths. Sale Pending
  • $269,900. 1755 N. Maple Rd., Ann Arbor. 1232 square feet with 3 bedrooms and 2.0 baths.
  • $259,000. 1569 Franklin St., Ann Arbor. 1367 square feet with 4 bedrooms and 1.0 baths. Sale Pending
  • $234,900. 1770 N. Maple Rd., Ann Arbor. 1634 square feet with 5 bedrooms and 1.0 baths.

Sold Homes:

  • $325,000. 2228 Foss St., Ann Arbor. 1493 sq. ft., + 300 in finished lower level, 3 bedrooms and 2.0 baths.
  • $290,000. 1641 Fulmer St., Ann Arbor. 1115 sq. ft. ,+ 35 in finished lower level, 3 bedrooms and 2.0 baths.
  • $230,000. 1756 N. Maple Rd., Ann Arbor. 1306 in finished lower level, 3 bedrooms and 2.1 baths.
  • $175,000. 1650 Calvin, Ann Arbor. 962 square feet with 2 bedrooms and 1.o baths.

Last year at Garden Homes Park, 7 homes sold with an average sale price of $304,429 and an average price per square foot of $164.00. The 4 homes sold this year have an ASP of $255,000, down 16.2% and an A$/SF of $209.00, up 27.4%. To learn more about home values at Garden Homes Park, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!