Tag Archives: Ann Arbor Real Estate Statistics

Ann Arbor Real Estate Report – January 2019

More Inventory but Less Sales for Ann Arbor HomesAnn Arbor Home Inventory is Rising

Ann Arbor homes are starting off this new year strong with 67 homes being entered into the multiple listings service, this is an increase of 21% compared to the 55 last year.  A total of 39 homes were sold, which is a significant 29% decrease compared to the 55 sold homes last January. Considering only the listings that were entered in January, not inclusive of those that have been on the market longer, 70% of the 67 homes were sold. Unfortunately for sellers, the average days on the market is 45, meaning that many homes entered last month have not yet sold; this is an 11.8% increase from 2017 though. Luckily for buyers, both listing and selling prices declined compared to the prior January. The average listing price dropped from $494,222 to $446,662, a 9.6% difference. There was less of a difference between the average selling price this year and last, $421,420 versus $450,822, only a 6.5% decline.

The Bouma group is here to help you with all of your housing needs, whether you are looking to buy or considering listing your home, contact the specialists at (734)761-3060 or email info@bouma.com. Stay tuned for consistently updated information about Ann Arbor homes and surrounding areas!

Ann Arbor Real Estate Report – December 2018

More Ann Arbor Homes Sold Than Listed in December to Finish Off the Year

Here is your final real estate report for 2018 for Ann Arbor homes! Both this past month’s prices and year-to-date prices have increased. Unfortunately, both the average sale and listing prices have increased on all fronts as well. Like November, 39 homes were sold this December, which is a 12.8% decrease compared to the 44 homes sold the prior December. There is minimal increase in the average listing price last month, from $451,784 to $452,492 now. A total of 57 homes have been sold in December, and although this is a 17.4% decrease from December 2017; it is good for sellers because more homes were sold than listed (in December) meaning that some homes that were entered into the multiple listings service before December were able to be sold. The average sale price is $436,533 versus $417,239 in December 2017, which is a 4.6% increase. Luckily for sellers, there has been a decrease in the average days on the market, from 56 to 45 days, a 19.6% difference. Continue reading

Ann Arbor Real Estate Report – November 2018

New Listings Entered for Ann Arbor Homes PlummetNew Home Listings Plummet

This November, Ann Arbor residential has seen a major dive in the amount of new listings entered. Only 39 homes were entered into the multiple listings service, this is a extreme 49% decline compared to last November last year when 73 homes were entered. There has only been a minimal increase in listing prices, from $500,023 on average in November 2018 to $507,659 currently. Luckily for sellers, a total of 97 homes were sold this past month, in comparison to the 90 homes sold the prior November, which is a 7.8% increase. The average selling price is still below the average listing price at $430,073, but is 6% above last year’s ASP of $405,669. For the month of November, the average days on the market is 36, which is better than the 38 days last November.

So far this year, 1419 homes have been entered into the MLS, and this is a minor increase compared to the 1383 homes that had been listed at this time in 2017. The average listing price cumulatively is $488,694 currently, versus $474,190 last year, which is a 3% rise. There has only been a slight decline in the amount of sold homes thus far in comparison to the previous year, from 1057 to 1038 sold homes. Like ALP, the ASP has also increased; overall, homes sell for $438,210 and this is a difference of 3.6% compared to $423,024.

Perhaps this significant decline in homes is due to the upcoming holidays. Whether you are looking to buy or sell a home, don’t hesitate to contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Check back here for more up-to-date information on Ann Arbor homes!

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 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

Ann Arbor Real Estate Report – June 2018

Low Inventory Encourages Prices to Climb

Ann Arbor Residential Real Estate Report for June

Although only slightly less, Ann Arbor homes saw a decrease in both listings and sales entered this June compared to the previous. The amount of new listings entered only differed by 1.5%, from 194 homes to 197 homes last June. Listing prices saw an increase of 5.9% though, with the average LP being $449,417 in 2017 and $475,710 currently. Properties sold in June declined by 4.3%, 139 versus 133 sold homes. However, the average sale price rose by 3.4% from $434,142 last June to $449,116 this year. Houses are being sold faster, with the average amount of days on the market being 18; this is great for sellers. So far this year, there is a 3.8% increase in homes listed from 840 in the year prior to 872 now. With the small increase of homes added to the market, prices have done the same, $477,729 versus 488,286; an increase of 2.2%. The amount of properties sold to date has decreased 3.3% from 540 to 522 sold homes. There has been minimal discrepancy between the average sale price so far this year compared to the previous year, $435,573 versus $437,914 currently. Overall, it is a seller’s market for Ann Arbor residential homes; especially for homes priced under $600k. Higher end homes, in the $600k to $1m range, are considered to be a part of a balanced market. As per usual, luxury homes that are over $1m are a buyer’s market. Continue reading

Ann Arbor Real Estate Report – May 2018

With a Rise in New Listings, Prices Slowly Begin to Lower for Ann Arbor Homes
Ann Arbor Residential Real Estate Report for May

Ann Arbor homes have seen an increase in the amount of  listings this May, compared to last; and with the additional inventory prices are beginning to slowly reduce. An impressive increase of 53.4% more listings were entered this May compared to last May, 224 homes listed versus 146. And although listing prices are lower, it is only a decline of less than 0.5%, from $496,037 to $494,320. Continue reading

Ann Arbor Real Estate Report – April 2018

Buyer’s and Seller’s Market Dependent on Price Range

Ann Arbor Real Estate Report May 2018

 

For Ann Arbor homes, listings were slightly down and sales increased in April compared to 2017. New listings decreased a small percentage of 1% in comparison to April last year, 173 versus 175. Although there is minimal decline in the amount of listings, according to the Ann Arbor Area Board of Realtors, the average listing price increased from $478,871 to $510,951. The number of sales rose 35% compared to the previous year, from 75 homes sold to 101; along with it, the average sale price increased by 5%, $414,281 versus $435,787. When looking at the average days on the market, only one day differed from this April compared to last, this year had 1 more day equaling 22 days on average. Looking at the year to date statistics, listings are lower. This year, 454 listings have been entered thus far, versus the 496 listings entered in 2017. But, the homes sold since the beginning of the year have a higher volume compared to last year, with 270 homes sold versus 247 in 2017. Homes sold under $400k are a seller’s market, and becomes stronger as the price range reduces. Mid-range homes are part of a balanced market, creating negotiation between buyers and sellers. Higher end homes, such as those above $800k, are considered to be a buyer’s market, with it being most intense in the 1 million dollar + range.

Looking ahead, it should be a solid year for Ann Arbor residential homes. Whether you are looking to sell or buy, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. And stay tuned for next month’s real estate report for Ann Arbor homes!