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Tag Archives: sellers market

3 Things Buyers Need to Know to Win in this Market

What Buyers Need to Know

In this powerful seller’s market with unbelievably low inventory, it’s getting harder for home and condo buyers to get their offers accepted. Here are 3 things a buyer needs to know to win in this market! And sellers, this is one of the best times in history to list your home for sale. If you’d like to know the particulars of what’s going on in your neighborhood of interest, please contact us at The Bouma Group, Realtors today at 734-761-3060 or info@bouma.com.

Ann Arbor Real Estate Market Update for March 2023

The 3 Trends Driving the Market Right Now

Happy Spring! While our team has listed many properties this March, listing inventory in Ann Arbor is down 24.8% from this time last year. We’re noticing 3 trends that are driving the market right now:

  1. Inventory is at a historic low
  2. Buyers are increasingly particular about building inspections
  3. Buyers need to be competitive, especially below $600,000

Get all of the details in today’s video

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Get Ready for a Busy Spring 2023 Real Estate Market

The Spring Market is Here!

Ann Arbor, Michigan, known for its vibrant arts scene, lively downtown, and home to the University of Michigan, has consistently been one of the country’s most sought-after real estate markets. As the Spring 2023 real estate season unfolds, buyers and sellers in the Ann Arbor area are receiving mixed forecasts when hearing the national real estate news. Let’s explore projections for the upcoming season in terms of inventory, homes, condos, interest rates, and more.

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Top 5 Tips for Home Buying in Today’s Market

Key Takeaways:

  • There are plenty of strategies to successfully buy in today’s market.
  • Lean in on the expertise of your local real estate—we’ve seen it all!
  • Our team is ready to help you achieve your goals, so contact us today.

Whether you’re shopping for your first home or relocating to a new area, purchasing a home in today’s real estate market can be daunting. However, the good news is that today’s housing market can actually be helpful if you’re a prospective home buyer who knows how to play the game well. When it comes to making a winning offer on your dream home, you must know certain particulars of the home buying process to be successful.

So, let’s look at the top five home buying tips that will help to play the real estate game more effectively and pave your path to home ownership.

1. Determine and know your budget

Woman looking over finances to buy a home

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Should You Be Worried About a Housing Bubble?

Key Takeaways:

  • Real Estate Bubbles: what are they, are we in one now, and why there’s no cause for alarm.
  • It’s natural to compare today to 2008, but this housing market is vastly different.
  • You can lean on our expertise! We’ve seen all types of markets, so reach out with questions.

With home prices soaring to levels never before seen, it is undeniable that the U.S. housing market is in uncharted territory, with many industry experts speculating that we’re in the midst of yet another housing bubble. However, like snowflakes, every bubble is created differently and is unique. Continue reading

Ann Arbor Condo Market Update – 2nd Quarter 2017

Ann Arbor Condo Market Update

Ann Arbor Condo Statistics for June 2017

Ann Arbor Condos remain in a seller’s market with a 3.4 month supply of listings at the end of the second quarter of 2017. In fact, it has been a seller’s market since May of 2013 when it was briefly a balanced market. The trend has been that May has the highest amount of inventory. But even with higher Spring inventory, it still isn’t enough to keep up with buyer demand, which is keeping it a seller’s market. The other side of this is, condo prices are being driven upward as multiple buyers bid the price up. This is great news for seller’s, but buyer’s are having to pay more.  Continue reading

Ann Arbor Real Estate Market – 2nd Quarter 2017

Ann Arbor Real Estate Update

Ann Arbor Real Estate Statistics for July 2017
As the second quarter comes to an end, Ann Arbor Real Estate is in a seller’s market with a 4.5 month supply of homes overall. The number of listings is at it’s highest for the year with 494 homes for sale, but demand remains high and more than half of these listings are under contract with a buyer. Over $600k, things slow down a bit and it’s more of a buyer’s market in these price points due to the higher inventory.

It’s always a great time to sell your home, but now is the best! The summer market is still going strong and spring buyers that haven’t found the perfect home yet are just waiting for new listings. Wondering what your home is worth? Don’t count on a computer generated Zestimate, contact the real estate specialists with The Bouma Group today at 734-761-3060 or email info@bouma.com. We know the nuances of each Ann Arbor neighborhood and how to properly price your home for the market at that moment. Want to know what’s selling in your area? Get a FREE market snapshot here!

 

Thinking of Selling Your Home? You Should Act Now!

Now is the Time to Sell Your Home!

Thinking of Selling Your Home? Hit the Gas before the Sun Sets!

If you’ve thought about selling your home this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:

“Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”

Yun goes on to say:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

Selling Your Home

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies. We see this every day.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas while it remains a seller’s market. Want to know what your home is worth or are you ready to list? Contact the real estate specialists with The Bouma Group at 734-761-3060 or email info@bouma.com and we’d be happy to talk to you about it!

Ann Arbor Condo Market Update – September 2016

Ann Arbor Condos Are Selling Like Hotcakes!

Ann Arbor Condo Statistics for October 2016
Buyer demand is extremely high for Ann Arbor Condos right now and the lack of inventory is driving quick sales up. When comparing this September with last September, the number of condos sold increased from 43 to 62 and the number of days on the market decreased from 50 to 22, according to the Ann Arbor Area Board of Realtors. The number of units listed during September decreased, leaving many buyers still on the lookout for the perfect condo. It remains a strong seller’s market with a 2.7 month supply of condos listed for sale.

Condo sales don’t revolve around the school year, as many neighborhood homes do. With high demand and fewer units on the market, now is a great time to get your condo listed for sale! Wondering what your condo could sell for today? Contact us at The Bouma Group, Realtors at 734-761-3060 or email info@bouma.com and we can talk about it. View a list of all Ann Arbor Condo complexes to see photos, amenities, statistics, condos for sale and more!

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Ann Arbor Condo Market Update – August 2016

Condo Sales Strong as Summer Comes to an End

Ann Arbor Condo Statistics for August 2016
Ann Arbor condo sales in August increased significantly when compared with August of last year. According to the Ann Arbor Area Board of Realtors, condo sales were up 38% with 125 units closed for the month, compared with only 90 sales the previous August. Inventory remains virtually the same and it continues to be a seller’s market with a 3.1 month supply of condos listed for sale. The average sale price also increased and is at $208,113, up 8%.

It was a very busy summer and we anticipate a steady fall season as well. If you are thinking of selling in the near futures and would like to know what your unit is worth, give us a call at 734-761-3060. Want to know more about the different complexes in the area? View all Ann Arbor Condos here!

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