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Ann Arbor Condo Market Update – February 2014

Ann Arbor Condo Listings Finally Increasing

Ann Arbor Condo Statistics for February 2014
After experiencing a steady decline in listings from the peak last May, the Ann Arbor Condo market is finally seeing a rise in inventory. Compared with February 2013, the number of listings has grown by almost 8%. While that’s not a huge increase, it’s a good start and hopefully a sign that as the spring market begins, more condos will be listings to help satisfy the large buyer demand. Overall, Ann Arbor is in a seller’s market with a 3.2 month supply of condos, and only the over $500k price range is in a buyer’s market.

It is shaping up to be a busy spring condo market and once the weather warms up, we are expecting listings and sales to better than we’ve experienced in a while. Continue to check back here for more updates on Ann Arbor as a whole and for particular condo complexes. Here at The Bouma Group, we’ve sold more condos than any other agent for the past 15 year and know this market better than anyone!

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