Monthly Sold Inventory Declines
The month of August experienced less drastic change in its metrics. A total of 156 listings were added to the Ann Arbor housing market, only a 3.3% increase from the previous August. Properties sat on the market for an average of 17 days, which was a considerable 45.2% drop from the 31 days in August 2020. There was an 18.4% decline in the amount of sold homes, from 141 to 115 recently. The average sale price increased by 5.9% though, $476,076 versus $504,283.
Since the start of the year, 1,288 homes have been entered into the multiple listings service, and this was a 4.4% change from the 1,234 from this time last year. 915 homes have been sold thus far in comparison to the 765 earlier – a 19.6% increase. Cumulatively, the ASP rose 14.1% to $526,753 versus the $461,649 before.