The Market Remains Stable
Compared to previous statistics, this August has had pretty steady numbers for Ann Arbor homes. In the past month, 137 homes were entered into the multiple listings service and this is only a slight increase compared to August 2018. The average listing price is $477,584, which is also only a slight increase compared to last year. There wasn’t much disparity between the amount of homes listed and sold in August 2019, with 120 homes sold; this is only a 7.5% decline compared to last year’s amount. Selling prices also barely changed compared to the year prior, with the average selling price coming to $456,109. Unfortunately for sellers, the average days on the market has increased to 31 days versus 22 last August, a 40.9% increase.
For year-to-date statistics there also hasn’t been much variance compared to the 2018. There has been a slight increase in the amount of entered listings, from 1151 to 1176 homes so far. Cumulatively, the ALP is $516,2116 and this is a 6.3% increase compared to the ALP of $485,569 previously. 762 homes have been sold thus far versus the 782 that had been sold at this time last year, a minor difference. The ASP is $463,033 which is a 5% rise from the ASP of $441,085 in 2018 at this time.
The Bouma Groupis here to help with all of your housing needs, whether you are interested in selling or looking to buy, contact the real estate specialists at (734)761-3060 or email info@bouma.com. Stay tuned for more information about Ann Arbor homes!