Ann Arbor Slowly Inches Towards a Balanced Market
While still in a strong seller’s market, with a 3.9 month supply of homes listed for sale, the overall Ann Arbor real estate market is slowly inching towards balanced as more and more inventory becomes available. Inventory is already up 21% since January. The upper price ranges, over $500k, are balanced or in a buyer’s market. Under $500k, it is a seller’s market with a much tighter inventory.
A lack of inventory continues to be an issue for home buyers in Ann Arbor. Competing offer situations are the norm and many buyers are writing offers on multiple homes before finally securing a property. This is great news for home sellers – if you’ve been considering selling, now is the time! Contact us at 734-761-3060 or email info@bouma.com for a market analysis to see what your home could sell for. Don’t wait, get your home listed today!