Average Days on the Market Drop 38%
While this October saw a similar amount of new inventory for Ann Arbor homes at 140, which was only 1 more than last year; listing prices increased by 18.5% from $457,567 to $542,165 recently. Luckily for buyers, the average selling price did not experience as much of a rise at $513,272, a 9.8% increase from $467,554 the previous October. A total of 105 homes sold, and this is only down minimally compared to before. Sellers will be happy to learn that the average days on the market decreased significantly from 47 to 29 more recently – a 38.3% drop.
Overall year-to-date statistics have less inventory with higher prices. 1537 homes have been entered into the multiple listings service, and this is a 7.7% decline from last year at this time when 1665 homes had been added. The average selling price for homes so far this year increased by 6.9%, from $489,737 to $523,597. There was a difference of 10.6% for sold homes, 1096 versus 980 currently. In 2019 in October, the average listing price was $459,455 and compared to $470,356 now, this is only a slight increase.
The Bouma Group is here to help you with all of your housing needs, contact the real estate experts at (734)761-3060 or email firstname.lastname@example.org for any questions or curiosities! View our current listings and Ann Arbor homes here!
Comparable Listing Prices but Less Inventory for Ann Arbor Homes
Although their is some uncertainty about the future of the housing market, the average listing price for Ann Arbor homes in June, $508,749, is comparable to that of last June, $507,887. This past month a total of 137 homes were added to the multiple listings service, only a 13.3% decline from the 158 homes listed in June 2019. Unfortunately for sellers, there has been a more considerable decrease of 24.8% in the amount of sales, from 129 to 97 sold this June. The average sale price is $443,911 and in comparison to the $514,071 ASP of homes the previous June, this is a 13.6% decrease. In the month of June, homes usually spent 35 days on the market before selling.
Looking at the year-to-date statistics, we see a similar trend with the ALP where currently it is $523,410, and this is only a minimal difference compared to the last year when the ALP was $531,389. As for the ASP there is only a 3.8% decline, $470,685 to $452,620 at the moment. The biggest difference is seen between inventory. So far this year, 620 homes have been listed, a 29.5% decrease compared to the 880 in 2019 at this time. The amount of sold homes have experienced an even greater decline of 35.2%, from 514 last year to 333 now.
If you are curious about the future direction of the real estate market, look no further than The Bouma Group because we are here to help with all of your questions, listings, and sellings. Contact the specialists at (734)761-3060 or email email@example.com. Learn more about Ann Arbor and surrounding areas here!
Ann Arbor Hills Real Estate Report – February 2020
As one of Ann Arbor’s most sought after neighborhoods, Ann Arbor Hills typically sees a lot of real estate activity. There are currently 16 homes listed for sale and so far this year, 4 homes have sold.
Homes for Sale:
- $1,499,000. 3100 Geddes Ave, Ann Arbor. 2772 sq. ft., +1331 in finished lower level, 4 bedrooms and 3.1 baths.
- $1,345,000. 2125 Devonshire, Ann Arbor. 3836 sq. ft., +1700 in finished lower level, 5 bedrooms and 4.1 baths.
- $1,200,000. 830 Avon, Ann Arbor. 3648 square feet with 3 bedrooms and 2.1 baths.
- $1,050,000. 2 Shipman Circle, Ann Arbor. 3128 sq. ft., +1444 in finished lower level, 4 bedrooms and 4.1 baths.
- $989,000. 519 Onondaga, Ann Arbor. 2912 square feet with 5 bedrooms and 3 baths.
- $825,000. 2980 Provincial, Ann Arbor. 2625 sq. ft., +1000 in finished lower level, 4 bedrooms and 3.1 baths. Sale Pending
- $679,000. 2554 Londonderry, Ann Arbor. 2514 square feet with 4 bedrooms and 3 baths.
For a more detailed list of current homes for sale, contact us at 734-761-3060
Decrease in New Inventory and Listing Prices
In the month of September, Ann Arbor homes saw a decline in the average listing price from $530,567 to $472,435, an 11% drop. Compared to last September when 137 homes were entered into the multiple listings service, there has been an considerable 25.5% decrease to having only 102 homes added. Luckily for sellers though, 22.1% more homes have been sold this past month. from 71 sold September 2018 to 88 most recently. The average sale price continued to stay consistent to the previous ASP, only a slight decline to $434,072. Unfortunately for sellers, the average amount of days on the market has greatly increased 65% to 43 days.
Looking ahead to year-to-date statistics, we only see slight variations in the numbers comparatively. There was only a slight decline in the amount of homes listed thus far, 1277 as of now. The average listing price decreased 4.4%, $489,791 versus $511,226. Similar to the previous listings inventory, there has also only been a slight decrease compared to last year’s numbers – with 851 homes being sold thus far. As for the ASP, there has been a 4.1% increase from $441,322 to $459,906.
The Bouma Group is here to help with all of your housing needs, whether you are looking to buy or considering selling, contact the real estate specialists at (734)761-3060 or via email firstname.lastname@example.org. Check back here for more updated information on Ann Arbor homes!
Briar Hill Real Estate Report – March 2016
Home values are on the rise at the desirable Briar Hill subdivision as the market continues to improve in Washtenaw County. There is currently 1 home listed for sale, and last year 7 homes sold.
Homes listed for sale:
- $450,000. 3571 Barry Knoll, Ann Arbor. 2726 sq. ft., plus 1000 in the finished lower level, 4 bedrooms and 3.1 baths. Listed by The Bouma Group
- $505,000. 3713 Parkwood Circle, Ann Arbor. 3004 sq. ft., plus 1000 in the finished lower level, 5 bedrooms, 3.1 baths.
- $502,500. 1718 Springmill Lane, Ann Arbor. 2800 sq. ft., plus 748 in the finished lower level, 4 bedrooms, 3.1 baths.
Inventory Increases for Ann Arbor Real Estate
Ann Arbor real estate inventory is finally starting to climb again and is up 17% with 54 new homes coming to the market during February. However, compared with February of 2012, inventory is down by 45% or 147 units. While still at historically low levels, this is great news for home buyers who haven’t been able to find that perfect home due to a lack of inventory and high buyer demand. Overall, Ann Arbor remains in a seller’s market with a 3.1 month supply of homes available for sale. The $500k and under price range is strong with the over $500k market recovering, but still in a buyer’s market.
The spring market is here and buyers are plentiful, making this the perfect time to get your home listed for sale! For a market analysis or to find out what home values are in your Ann Arbor neighborhood, contact us at The Bouma Group at 734-761-3060 or email@example.com. We keep a close eye on the real estate market and are constantly posting the latest statistics, so be sure to check back at our blog often!
Ann Arbor Real Estate Report – July 2012
Home sales remain steady at Country French Estates, one of Ann Arbor’s popular neighborhoods. There are currently 6 homes listed for sale and so far this year, 5 homes have sold.
Homes Listed for Sale:
- 5676 Versailles, Ann Arbor. $249,900. 1749 sq. ft. +460 in finished lower level, 3 bedrooms and 2.1 baths. Sale Pending
- 5617 Versailles, Ann Arbor. $265,000. 1728 square feet with 3 bedrooms and 2.1 baths.
- 5812 Quebec, Ann Arbor. $265,000. 1728 sq. ft. +450 in finished lower level, 3 bedrooms and 2.1 baths. Sale Pending
- 5873 Villa France, Ann Arbor. $268,500. 1825 square feet with 3 bedrooms and 2.1 baths.
- 5613 LeBlanc, Ann Arbor. $289,900. 1944 sq. ft. +900 in finished lower level, 3 bedrooms and 2.1 baths.
- 6012 Gabrielle, Ann Arbor. $349,900. 2877 square feet with 4 bedrooms and 2.1 baths. Sale Pending
Ann Arbor Real Estate Sales Remain Strong
Compared with last month, the Ann Arbor Real Estate market remains balanced with a 6.1 month supply of homes available in the Ann Arbor school district. The number of homes listed for sale has decreased slightly and will most likely continue to decline as the summer market wraps up. The number of homes with sales pending and the number of homes sold are both up, which is typical for this time of year as the homes listed during the spring and early summer market sold and begin to close. Here at The Bouma Group, we continually analyze the market and track every trend, including: values in Ann Arbor Subdivisions, specific price ranges, individual school areas, and more. For a more detailed analysis, contact us today at 734-761-3060 or firstname.lastname@example.org. Visit our website where you can Search the Ann Arbor MLS, View Our Featured Listings, or find out more about Relocating to Ann Arbor!
Ann Arbor Condos Remain in a Balanced Market
The current months supply of condos declined slightly from last month and remains in a balanced market at a 6, which means it would take 6 months for the current inventory to sell. The under $100,000 range is in a seller’s market and 39% of the listings have contracts pending. For a more in-depth analysis of these Ann Arbor condo statistics or information on your particular complex, contact us at The Bouma Group today at 734-761-3060 or email@example.com. Interested in a downtown Ann Arbor condo or already live in one? Download our Free condo report here and find out what is happening with values!
Ann Arbor Condo Sales Remain Steady Through Spring
The overall Ann Arbor Condo market remains balanced with a 6.2 month supply. Compared with last month, the number of condos listed for sale, condo sales pending, and condos closed has inched up slightly. Here at The Bouma Group, we continuously analyze the market and track every trend, including: Downtown Ann Arbor condos, price ranges, individual complexes, and more. To learn more about condo values, contact us today at 734-761-3060 or firstname.lastname@example.org. Visit our website where you can search the Ann Arbor MLS, download a Downtown Ann Arbor Condo report, or see info for all local condo complexes!