Listings Down, Sales Up in November
Ann Arbor Condo inventory continues to shrink, but this didn’t slow sales in November. For the month of November there were only 30 new listings, compared with 42 in November 2016. So far this year, there have been 679 new listings, down 8% compared with 738 this time last year. The number of condo sales rose from 44 to 53 during the month, an increase of 20%. However, year-to-date sales are struggling to match last year with 589 units sold, down 6.5% from 630. Residential home sales also rose during November, making it a busy month for all Ann Arbor real estate.
What does this mean for the future of the Ann Arbor condo market? If listings continue to decline, there will be less and less to choose from for the strong pool of buyers. This will drive the sale prices upward as buyers compete for properties, as we have seen this past year. The average sale price for condos has risen 12%, from $227,217 to $254,502, so if you’ve been thinking of selling your condo, now is a great time. Wondering what it’s worth? Contact us at The Bouma Group, Realtors today at 734-761-3060 or email firstname.lastname@example.org and find out!
Strong Spring Market for Ann Arbor Condos
The spring real estate market has been good for Ann Arbor Condos despite a lull in new listings. This time last year there were 251 condos listed for sale compared with this year’s 213. Sales are up slightly, going from 230 to 238 and the average days on the market is down to 35 from 44 last April. The most notable change is the average sale price, which has risen 10.5%, from $168,950 to $186,750. It continues to be a seller’s market with a 3.2 month supply of condos available. Continue reading
Sales Up for Dexter Real Estate
When compared with this time last year, sales are up year-to-date for Dexter Real Estate. There have been 143 sales so far in 2016, according to the Ann Arbor Area Board of Realtors, with an average sale price of $337,498. In 2015 there were 123 sales, with an ASP of $332,080, putting the number of sales up by 16% and the ASP up by 2%. The number of new listings year-to-date is virtually the same – 247 vs. 248. It is just barely a balanced market with a 7 month supply of homes listed for sale.
Dexter tends to see the real estate peak in June and July, but sales continue through the rest of the year. If you’re planning on listing your Dexter home, but think it may be too late in the season – it isn’t! Contact The Bouma Group, Realtors today at 734-761-3060 or email@example.com to learn what your home is worth in today’s market. Want to know what’s selling in your neighborhood? Find out in a Market Trend report!
Spring Market Brings More Condo Listings
The spring real estate market is here and with it brings much need condo listings. Inventory has risen 60% since the beginning of the year. Sales are also on the rise, as new listings are selling as soon as they come to the market. Of the 208 condos listed for sale in Ann Arbor, 53% are under contract with a buyer. It continues to be a seller’s market with 3.6 month supply of inventory.
Spring is the hottest time for selling condos in Ann Arbor, so if you’ve been thinking of getting yours listed, now is the time! Find out what your condo is worth by contact us at The Bouma Group at 734-761-3060 or email firstname.lastname@example.org. See condo values in your or other Ann Arbor Condo complexes here!
Year Ends with Extremely Low Inventory
Ann Arbor Condo inventory is extremely low with only 117 units listed for sale. This is the lowest it has been in the past 2 years. Sales remain higher than previous years, so condos are selling at a fast pace, indicating plenty of buyers. If more units do not become available soon, there won’t be anything to purchase and the market will stall. Overall, Ann Arbor condos are in a strong seller’s market with a 2 month supply of units available.
Get a head start on spring and get your condo listed for sale now! Give the real estate specialists at The Bouma Group a call at 734-761-3060 or email email@example.com and find out what it’s worth, you may be surprised! Not quite ready? Sign up for a free market snapshot and see what’s listed for sale and selling in your complex. We’ve been selling Ann Arbor Condos for 30 years and have the expertise to get yours sold quickly!
All Price Ranges Show Signs of Improvement
While inventory for Ann Arbor condos declined slightly from the high in May, sales remain strong across all price ranges. Sales of condos over $500k are rising with 20 units sold in the past 12 months, compared with 12 in June 2013 and and only 3 in June 2012. Buyer confidence is growing as more sales are occuring in the higher price ranges. Overall, Ann Arbor condos remain in a seller’s market with a 4.5 month supply of units available.
Start your condo search here! Not sure where to begin? Check out our Ann Arbor Condo complex pages to view photos, amenities and market statistics. Contact us at The Bouma Group at 734-761-3060 or firstname.lastname@example.org for more information on this report or values at any particular complex!
Ann Arbor Condo Sales Begin to Slow
As the colder weather sets in, we are beginning to see Ann Arbor Condo sales slow a bit. While sales are up 10% when compared with last year, they are at the lowest point for 2013 with 576 condos sold in the past 12 months. Overall, it continues to be a seller’s market with a 3 months supply of units available. The over $500k price range is in a buyer’s market, as it typically is. Condo inventory tends to peak in May, so if you’ve been thinking of selling, beat the crowd and consider getting it listed right after the holidays.
Wondering what your condo is worth? Contact us for a FREE market analysis and see what units in your complex are selling for. Ann Arbor Condo values really rose last year and your home may be worth more than you think. The Bouma Group has been the #1 condo seller for more than 15 years and knows this market better than anyone! Contact us today at 734-761-3060 or email email@example.com for more information on this report. Search the MLS for condos here.