Average Days on the Market Stays Below 30 Days
Although there has been an increase in the amount of new inventory for Ann Arbor homes in July, the average days on the market is under a month at 21 days. A total of 163 homes were entered into the MLS this past month, a slight increase compared to the 146 last July. Listing prices have risen as well, they are currently averaged at $507,407 whereas before the ALP was $490,390, a 3.5% increase. There was only minimal difference in the amount of sales this July compared to the previous, 127 homes in 2019 versus 131. Selling prices have dipped only slightly, from $443,944 to $437,728 currently.
Looking ahead at year-to-date statistics, the average days on the market is hovering on the 30 day point. 1042 homes have been listed since July 2018 and this is only a small increase in comparison to the 1018 last year. The average listing price has risen 7.9% from $487,314 to $525,590. Thus far, 641 homes have been sold with an average sale price of $464,155. In comparison to the previous statistics, there has been only a slight decline from the 655 homes sold and a 5.8% rise from the ASP of $438,859.
The Bouma Group is here to help with all of your housing needs, whether you are looking to buy or are considering selling your home, contact the specialists at (734)761-3060 or email info@bouma.com. Check back here for more updates on Ann Arbor residential!