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Ann Arbor Real Estate Report – March 2021

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Less Listings and More Sales

In the month of March, Ann Arbor homes listed a total of 153 homes, this was a decline of 17.3% from the 185 homes last March. Seller’s can be happy though because housing sales increased by 45.2% from 73 to 106 homes recently. The average listing price was $650,279, a significant climb of 30.9% from the ALP of $496,650 the previous March. As well, the average sale price increased, but it was only by 5.4% from $490,592 to $517,127. More great news for sellers – the average days on the market was only 26 days, 56.7% decline.

As for the year-to-date numbers, they saw similar trends to the monthly statistics. There have been 354 homes added to the multiple listings service so far, in comparison to the 404 in 2019 at this time, a 12.4% difference. The average listing price for these homes increased by 18.4% from $525,369 to $621,979 currently. Since the start of the year, 235 homes have been sold versus the 197 before, a 20.8% rise. The average sale price for these homes is sitting at $474,309 cumulatively, which is a 3.9% increase from the ASP of $456,479 at this time last year.

Whether you are a seller or a buyer, The Bouma Group is here to help you with all your needs! Give us a call at (734)761-3060 or email info@bouma.com to learn more. View our listings here!

3471 Burnham Rd, Ann Arbor, 48108. Spacious and updated home in Southwest Ann Arbor

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3471 Burnham Rd, Ann Arbor, 48108

Just Listed! This beautifully updated home has five bedrooms, a convenient location, and plenty of space inside and out. Features include:

  • 2,084 sq ft., with an additional 1,0000 sq ft in the fully finished lower level
  • 5 bedrooms and 3.5 baths
  • Hardwood flooring and custom molding
  • Updated kitchen with glass backsplash tile and stainless steel appliances
  • Spacious and open plan kitchen and family room accessible to deck
  • Formal living and dining rooms
  • Primary bedroom with tray ceiling and spa-like ensuite bathroom
  • Fully finished walkout lower level opens to backyard and
  • Large tree-lined backyard with patio, deck and mature trees
  • Click for more photos, features and a 3D virtual tour!
  • Listed for $509,000

To schedule a private showing or learn more about 3471 Burnham Rd, contact the real estate specialists with The Bouma Group at 734-761-3060 or info@bouma.com today!

114 W Oakbrook Dr, Ann Arbor, MI 48103. Well-maintained condo in Balmoral Park!

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114 W Oakbrook Dr, Ann Arbor, MI 48103

Just Listed! This well-maintained upper-level ranch condo has great views and is conveniently located. Features include:

  • 1470 square feet
  • 2 bedrooms 2 bathrooms
  • 2-car attached garage
  • Vaulted ceilings in living area and primary bedroom
  • Spacious kitchen with stainless steel appliances
  • Private balcony with scenic pond views
  • Located near Whole Foods, Briarwood Mall, restaurants, shopping, highways and a bus stop!
  • Click here for more photos and features, including a virtual 3D tour
  • Listed for $299,000.

To schedule a private showing or learn more about 114 W Oakbrook Dr, contact the real estate specialists with The Bouma Group at 734-761-3060 or info@bouma.com today!

What Makes Today’s Real Estate Market So Competitive?

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Key Takeaways

  • This year’s housing market is shaping up to be the most competitive on record, but the pandemic isn’t the only thing influencing the national real estate boom.
  • There are actually quite a few factors contributing to today’s hot market, including unfettered buyer demand, historically low supply, and steady interest rates.
  • Have questions about buying a home in 2021? Get in touch with us for even more personalized advice.

3 Factors That Make 2021’s Real Estate Market More Competitive Than Ever

If you’re planning a move, you might be wondering how the real estate market will change this year—and the predictions are pretty eye-opening. Existing home sales are expected to increase by 9%, home prices could rise by a whopping 8%, and mortgage rates should stay well below 4% for the foreseeable future. Continue reading →

1157 Joyce Lane, Ann Arbor, MI 48103. Completely remodeled condo in Walnut Glen!

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Just Listed! This beautiful and completely remodeled condo has high-end finishes throughout and is move-in-ready. Features include:

  • 1160 square feet
  • 2 bedrooms and 2 bathrooms
  • Wide-plank, hand-scraped bamboo flooring throughout
  • Modern kitchen with granite counters, marble backsplash, maple cabinetry, and stainless steel appliances
  • Upgraded bathrooms with tile flooring, tiled showers, and granite counters
  • Two spacious and light-filled bedrooms
  • Screened-in porch accessible from open living and dining areas
  • One garage parking space
  • Immersive 3D virtual tour with floor plans
  • More photos and features
  • Listed for $235,000.

2032 Fair St, Ann Arbor, MI 48103. Well-maintained ranch in Ann Arbor’s west side.

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2032 Fair St, Ann Arbor, MI 48103.

Just Listed! This charming and well maintained ranch is located on a peaceful wooded lot near downtown Ann Arbor. Features include:

  • 1,100 sq ft with an addition 600 sq ft in the finished lower level
  • 2 beds and 1.5 baths
  • Extra-large primary bedroom has plenty of space – could be used as a home workout area or a work from home office
  • Airy and spacious living room with brick fireplace and sliding doors to the walkout deck
  • Harwood floors and fresh paint throughout house
  • The finished walk-out lower level leads to a brick patio in the backyard
  • 2-car garage with EV charging outlet with separate meter
  • Set on a wooded lot with plenty of trees in a quiet neighborhood near downtown Ann Arbor, shops, schools, restaurants, and parks
  • More photos and features
  • Listed for $342,900.

Ann Arbor Residential Real Estate Report – February 2021

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Despite higher listing prices, selling prices remain stable

The second month of the new year isn’t experiencing any massive shifts for Ann Arbor homes so far. There was a 19.1% decline in the amount of new homes added to the market, from 131 to 106 recently. With a dip in inventory, the average listing price increased to $627,352 versus $583,118 the previous February. A total of 63 homes were sold this past month, which was only 1 more from before. There was also a minimal change in the average sale price compared to last year from $458,970 to $456,009. Luckily for sellers, the average days on the market decreased by 22% and is sitting at 46 days currently.

As for the year-to-date statistics, they followed a similar trend to the monthly numbers. 201 homes have been listed this year, an 8.2% decline from the 219 prior. The ALP for these properties increased 9.7% from $549,629 to $602,945. Sold inventory went in the opposite direction by increasing 4% to 129 homes versus 124 before. There was a slight rise in the ASP which was $436,397 earlier to $440,141 recently.

To learn more about the housing market in Ann Arbor, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!

2709 S Spurway Drive, Ann Arbor, MI 48105. Luxurious move-in-ready townhouse!

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Just Listed! This practically new townhouse is located in the new North Oaks community and features desirable complex amenities. Features include:

  • 2,438 sq ft over 4 levels
  • 3 beds and 2.5 baths
  • Open main level with walk-out balcony off dining area
  • Stylish kitchen with granite countertops and stainless steel appliances
  • 9′ ceilings on main and lower levels
  • Top floor contains bonus finished space with vaulted ceilings and its own walk-out balcony
  • 2-car attached garage on lower level leading to den/office space
  • North Oaks community amenities include clubhouse, lap pool and wading pool, fitness center, play structure and walking paths
  • More photos and features
  • Listed for $509,000.

Why You Shouldn’t Use Automatic Home Estimators to Price Your Home

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Key Takeaways:

  • Automatic home estimator tools are popular amongst homeowners and sellers, but they aren’t always the most reliable.
  • In some instances, these estimators can be off by thousands of dollars due to inaccurate data.
  • If you’re looking for a better way to determine your home’s market value, give us a call at 734-761-3060 to get started!

Exposing the Inaccuracies of Automatic Home Estimators

If you own a home, you’ve probably wondered how much its value has increased since you first moved in. And while using an online estimator might seem convenient, you could end up with some pretty inaccurate numbers—and that’s bad news for sellers in today’s competitive market.

Want to make the most of your equity and find out how much your home is really worth? Here’s why working with a local real estate agent will always be better than trusting an “automatic” estimate.

Most estimators rely on user-reported data or algorithms

Home value on a laptop

Continue reading →

926 W Huron St, Ann Arbor, MI 48103. Stylish townhouse walking distance to downtown!

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926 W Huron St, Ann Arbor, MI 48103

Just Listed! This cotemporary and elegant townhouse is located only a 10 minute walk from downtown and has high-quality finishes throughout. Features include:

  • 2,114 sq ft
  • 2 bedrooms and 2.5 baths
  • Hardwood floors and crown molding
  • Pella windows and solid core 9′ doors
  • Gourmet kitchen with granite counters and stainless steel appliances
  • Primary bedroom with double height windows, walk-in closet, and ensuite bathroom
  • Third floor contains a den and second bedroom with ensuite bathroom
  • 10-minute walk to downtown Ann Arbor
  • 2 heated and attached garage parking spaces
  • Finished lower level with 322 sq ft
  • More photos and features
  • Listed for $599,000

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