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Ann Arbor Real Estate Market Update – June 2016

Prices Continue to Rise for Ann Arbor Real Estate

Ann Arbor Real Estate June 2016 Second QuarterSale prices for Ann Arbor Real Estate continue to rise through the second quarter of 2016. Inventory remains low, even lower than this time last year when there were 549 homes listed for sale compared with this year’s 526. According to the Ann Arbor Area Board of Realtors, sales dropped ever so slightly comparing this June with last, while the average sale price increased by 3.4% rising from $288,938 to $298,721. It remains a seller’s market with a 4.7 month supply of homes listed for sale.

The first half of the year was very busy as homes were selling almost as quickly as they were listed. The summer months tend to quiet a bit compared with the spring market, but if the trend keeps up it will stay busy. We will continue to monitor the market and keep you updated! Meanwhile, should you have any questions about your particular neighborhood, the value of your home, or what’s currently for sale don’t hesitate to contact us at 734-761-3060 or email today!

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