Are you curious about the real estate market in Ann Arbor this year? Whether you’re a potential homebuyer or a local resident, here’s a snapshot of the most and least expensive homes sold so far in 2024.
The Most Expensive Home Sold
Barton Hills Beauty
Topping the list is a stunning property in Barton Hills. This luxurious home sold for an impressive $2,200,000. With 5,606 square feet, this spacious abode features:
- 4 Bedrooms
- 4 Bathrooms
- Gorgeous Views of the surrounding landscape
The home’s expansive layout and high-end finishes make it a standout in Ann Arbor’s real estate market. It’s no surprise that Barton Hills continues to be one of the most sought-after neighborhoods for luxury living.
Average Priced Home Sale
Arbor Creek Stunner
An average-priced home sold this year is located in the Arbor Creek subdivision, demonstrating a balanced blend of comfort and style. This well-maintained property closed at $676,000 and offers a welcoming atmosphere with:
- 2,739 Square Feet
- 4 Bedrooms
- 3 Bathrooms
This home features an open-concept design, a spacious backyard, and modern amenities, making it an ideal choice for families and professionals alike. The Arbor Creek neighborhood is known for its community vibe and proximity to local amenities, solidifying its appeal in the current real estate landscape.
The Least Expensive Homes Sold
West Side Rehab
On the other end of the spectrum, the least expensive home sold this year is located on the west side of town. This fixer-upper sold for $145,000 and is a complete rehab project. It offers:
- 1,176 Square Feet
- 1 Bedroom
- 1 Bathroom
While it requires significant work, it presents a unique opportunity for those looking to invest in a property with potential.
Arbor Oaks Gem
The next least expensive property is in the Arbor Oaks subdivision. Move-in ready and full of charm, this home sold for $182,000. It features:
- 864 Square Feet
- 3 Bedrooms
- 1 Bathroom
This property stands out with its affordable price and prime location, making it a fantastic option for first-time homebuyers.
Key Market Insights
Median and Average Prices
- Median Sale Price: $570,000
- Average Sale Price: $676,000
- Average Price per Square Foot: $339.00
- Average List to Sell Ratio: 101.47%
These numbers highlight a healthy and competitive market in Ann Arbor. The median sale price of $570,000 indicates a balanced market, while the average sale price of $676,000 shows the presence of higher-end sales pulling the average up.
Distribution of Sales
There were seven homes sold at the median price of $570,000, spread across various locations in Ann Arbor. This indicates a wide appeal and diverse housing options available at this price point.
Conclusion
Whether you’re looking for a luxury home in Barton Hills or seeking an investment opportunity on the west side, Ann Arbor’s real estate market offers something for everyone. Interested in exploring more? Stay tuned for our regular updates on the latest market trends and insights.
Are you ready to find your dream home in Ann Arbor? Contact us today at 734-761-3060 or info@bouma.com to get started on your home-buying journey!