Ann Arbor Condo Inventory Down 14%
The leaves are falling and so is Ann Arbor Condo inventory! When compared with this time last year, inventory is down 14% with 172 listings overall, and new condo listings are down 25% with 70 new units compared with 94 last year. Condo sales are also slightly down for the month, but according to the Ann Arbor Area Board of Realtors, sales year-to-date are up over last year. It remains a seller’s market with a 2.8 month supply of condos available on the market. If strong sales with low inventory continue, it will stay a seller’s market.
Although the fall market is here, it is a great time to get your Ann Arbor condo listed for sale! Inventory is at the lowest point of the year and mortgage rates are still low allowing condo buyers to get even more for their money. To learn more about condo values in Ann Arbor or about the excellent opportunities available to purchase a condo for yourself or as an income property, contact us today at 734-761-3060 or info@bouma.com. We’d love to talk with you about your Ann Arbor condominium!