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Tag Archives: Ann Arbor Rentals

Ann Arbor Real Estate Market Update – October 2011

Ann Arbor Real Estate Inventory Declines

The Ann Arbor real estate market as a whole, saw numbers drop in every category when comparing the end of October to the end of September. The number of Ann Arbor homes listed for sale declined by 7%, and by 30% when compared to the high in May of 789 homes, and the number of homes under contract declined by 4%. Every single price point lost inventory as homes closed and not as much new inventory was added. The trend of decreasing inventory with increased sales that we saw in the late summer/early fall has ended and sales for the past 12 months decreased by a slight .3%.

Ann Arbor Real Estate Statistics for October 2011

If there is less than a 5 months supply of homes on the market, you are in a seller’s market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer’s market. The months supply of homes for the entire Ann Arbor real estate market is at 6.3 and remains in a balanced market. All price points have seen decreases in the months supply of homes, except for the under $100k and the $800k-$1M price ranges which saw small increases. Over 1M we have a 26.25 months supply of housing available, which means it would take over 26 months for all of the current inventory to sell with no new homes coming to the market. A balanced market continues for all price ranges under $300k and the $300k-$400k along with the $700k-$800k ranges are now in seller’s markets, as sales stay up and inventory goes down. The remaining price ranges are still in a buyer’s market.

The Ann Arbor rental market has also seen decreased inventory and sales, when compared to the end of last month, but is still strong with a 2.4 months supply, as sellers are choosing to rent their homes and wait for their market to fully recover.

You may not think so, but now is a great time to sell your Ann Arbor home! With many price points in a balanced and even seller’s market and low inventory, there isn’t as much competition as in the summer months. There are many home buyers out there and historically low interest rates available. The Bouma Group, Ann Arbor real estate experts know the current market trends, so if you’re considering making a move contact us today at info@bouma.com or 734-761-3060. And to search the Ann Arbor MLS, check out Ann Arbor Subdivisions, and see the great Buyer Services The Bouma Group offers, visit our Ann Arbor Real Estate website now!

Ann Arbor Real Estate Market Update – September 2011

Ann Arbor Home Sales Increase!

As the fall Ann Arbor real estate market begins, inventory continues to decline for the overall Ann Arbor school district. When comparing the end of August to the end of September, the number of Ann Arbor homes listed for sale has dropped by 8.2%, and 25% when compared to the high of 789 homes listed in May. The number of homes under contract declined by 6%, and sales for the past 12 months increased by 4.5%. Most price points lost inventory as homes closed and not as much new inventory was listed. However, we did see an increase in inventory in the under $100k market, which went up 14%, and the over $1M mark, which increased just slightly with 1 new listing. The trend of decreasing inventory with increased sales is leveling out, as the homes that sold in the summer have mainly closed. Sales for the past 12 months, in most price points, has stayed fairly steady when compared to last month.

Ann Arbor Residential Home Statistics September 2011

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Hollywood Park Subdivision, Ann Arbor Real Estate Update

Ann Arbor Real Estate Report – August 2011Hollywood Park Subdivision, Ann Arbor Neighborhood

Hollywood Park is a mature, west side Ann Arbor neighborhood with a nice mix of home styles. Homeowners love the great location close to downtown Ann Arbor, area freeways, shopping, and restaurants. There are currently 5 homes listed for sale in Hollywood Park and so far this year, 9 homes have sold and 1 has been rented.

Homes for Sale:

  • $131,000. 1050 square feet with 3 bedrooms and 1.1 baths. Under Contract
  • $159,900. 1428 square feet with 3 bedrooms and 1.1 baths.
  • $169,900. 1395 square feet with 3 bedrooms and 1.1 baths. Foreclosure
  • $179,000. 1842 square feet with 4 bedrooms and 2 baths.
  • $204,900. 1981 square feet with 4 bedrooms and 1.1 baths.

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Hickory Pointe Subdivision, Ann Arbor Real Estate Update

Real Estate Update – August 2011Hickory Pointe Ann Arbor Subdivision in Ypsilanti MI

Hickory Pointe Subdivision, is an Ann Arbor neighborhood located on the far east side of town. Homeowners actually have an Ypsilanti mailing address, pay Pittsfield Township taxes, and children attend Ann Arbor schools. There are currently 2 homes listed for sale, 1 listed for rent, and 3 homes have sold this year with 3 homes renting out.

Homes for Sale:

  • $259,900. 3004 square feet with 4 bedrooms and 2.1 baths. Former Model Home
  • $294,900. 2602 square feet with 4 bedrooms and 3.1 baths. Former Model Home

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