Ann Arbor Real Estate Update

The Ann Arbor Real Estate market continues to struggle with a lack of inventory. This October 83 homes were listed for sale, compared with 124 listed in October 2015. This is a decline of 33%. As we have been reporting each month, this lack of listings is driving prices upward as the pool of buyers is not declining. The average sale price for Ann Arbor homes this October is $360,868, up 4% over last October with 7 more homes selling. Year-to-date, the average sale price has risen 6%. This all leads to Ann Arbor remaining in a seller’s market with a 4.2 month supply of homes for sale.

This has been a great year for home values in Ann Arbor. If you’ve been thinking about selling yours, but aren’t sure how to get started, give us a call! We can help by giving you a market analysis to see what your home is worth, give you staging tips, and even help you find a new home. Contact us today at 734-761-3060 or email info@bouma.com to learn more!

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