Sold Homes in Ann Arbor Remain Stable
Overall, Ann Arbor homes experienced fairly consistent statistics this August compared to last year’s. There were a total of 129 homes entered into the multiple listings service, a 12.2% decline from the 147 previously. As for the average listing price, it increased 10.3% from $453,907 to $500,484 this past month. 113 properties were sold in August, and this is a minimal decrease from the 114 before. The average days on the market was 28, which is less than a month’s time, and the previous August’s 30 average DOM – down 6.7%.
Since the start of the year, 1013 homes have been listed for sale and this is a 13.6% decline from the 1173 homes at this time last year. The ALP is $505,357 cumulatively, compared the August prior of $494,486 – a slight increase. The inventory of sold homes has declined 12.2%, 743 homes versus 652 so far this year. Thus far, the ASP for homes in 2020 is $454,112, a small rise from $449,731 previously.
The Realtors with The Bouma Group understand the Ann Arbor housing market well, and are here to help with all of your questions. Contact us at (734)761-3060 or email info@bouma.com to learn more! Search for your next potential home here!