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Tag Archives: Ann Arbor Real Estate Trends

Ann Arbor Real Estate Market Update – September 2014

Ann Arbor Eases Into Fall Real Estate Market

Ann Arbor Real Estate Statistics for September 2014
As Ann Arbor transitions into the fall real estate market, changes are subtle when compared with last month. Inventory and the number of homes with contracts pending are just slightly lower, and Ann Arbor as a whole is teetering between a balanced and seller’s market with a 5 month supply of homes available. Inventory in the higher price ranges is beginning to stack up as more homes are being listed with fewer contracts pending. In the past 12 months, 34 homes sold in the $800k – 1M price range and 17 sold priced over $1M.

The Bouma Group continues to track all aspects of Ann Arbor real estate, including: price points, elementary schools, neighborhoods, condominiums, and more. Be sure to bookmark our blog to easily check back for the latest statistics! And as always, to learn more about the value of your home in today’s market, give us a call at 734-761-3060 or email info@bouma.com today!

Ann Arbor Real Estate Market Update – May 2014

Rising Inventory Helps to Balance the Market

Ann Arbor Real Estate Statistics for May 2014

As home inventory continues to rise, the market as a whole is becoming more balanced. With a 4.9 month supply of homes available for sale, it is just barely a seller’s market. A 5-7 month supply is considered a balanced market. While homes are still selling at a good pace, this is good news for buyers that have not been able to find a home due to lack of inventory. Also with more to choose from, multiple offers and bidding wars are lessened, allowing more buyers to find a home to purchase.

Martin Bouma and his team of buyer’s agents are in the field every day and know the Ann Arbor Real Estate market better than anyone. Whether you are a buyer or seller, we will help you meet your goals with our experience, expertise, and negotiating skills. Call us today at 734-761-3060, email us at info@bouma.com, and visit our website to begin your home search or find out the value of your current home!

Ann Arbor Real Estate Market Update – October 2013

Sales Not Slowing Down for Ann Arbor Real Estate

Ann Arbor Real Estate Statistics for October 2013
While new listing activity for Ann Arbor homes is slowing as the holiday season approaches, sales continue to climb. In fact, sales are at the highest point they’ve been in more than 6 years, when tracking sales for the past 12 months. Home buyers are still very active and as inventory shrinks, demand increases. The Ann Arbor Real Estate market as a whole is in a seller’s market with only the over $800k price ranges in a strong buyer’s market.

While most home sellers either wait to list their homes or take them off the market for the holidays, it is still a great time to list! Just last week we listed 2 homes and received multiple offers on both within the first day. Contact us at The Bouma Group to find out what your home is worth in today’s market. You might be surprised at your home’s rising value! 734-761-3060 or email info@bouma.com.

The #1 Reason Why You Should List Your Home Now!

Real Estate for Sale Sign in Front of Ann Arbor HomeIf you’re a current home owner who is wondering whether to enter the market, we’re here to tell you that now is a great time to do so!

Here’s the top reason why home owners should list their home right now: Home prices are on the rise!

NBC News recently reported that home prices have increased 7.7 percent in the year through June.

Home buyers wanting to enter the market before prices climb even higher have only encouraged this upward momentum.

What Else Home Sellers Should Know About the National Market

NBC News revealed even more interesting data about the current state of the national housing market and its submarkets:

  • The Federal Housing Finance Agency reported that June home prices were 17 percent higher than a year earlier in the Pacific area, including California and Washington.
  • In the Mountain region (which includes Nevada and Arizona), home prices increased 11 percent.
  • Meanwhile the Middle Atlantic region (which includes New York, New Jersey and Pennsylvania) saw home prices increase by 2.5 percent.
  • The National Association of Realtors reported that the median price of previously owned homes increased 13.7 percent for the year through July. That figure was $213,500.
  • Sales of previously owned homes increased by 6.5 percent in July to the fastest pace since November 2009.
  • The inventory of homes for sale is around 5.1 months nationally right now.

Experts do caution that higher borrowing costs may end up pricing some buyers out of the market, consequently slowing the pace of home sales.

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Ann Arbor Real Estate Update – August 2013

Ann Arbor Real Estate Stays Strong and Steady

Ann Arbor Real Estate Statistics for August 2013
As the summer market begins to wind down in August, with the last of the summer vacations and preparing for the new school year, Ann Arbor listing inventory and home sales slow a bit from last month. But when compared with this time last year, both inventory and sales are up slightly. The under $400,000 price range remains in a seller’s market with the overall market just shy of a balanced market with a 4.9 month supply of homes available.

Last fall, and through the winter months, we saw a steady decrease in inventory and a steady increase in sales. This left the market in need of homes for sale to keep up with buyer demand, which in turn helped values to rise. We are now seeing the market balance out and will continue to keep a close eye on trends as the year continues. Be sure to check back here each month for an update for Ann Arbor Real Estate, Ann Arbor Condos, Dexter Real Estate, and Saline Real Estate as we track each month’s statistics. To learn more about home values in your specific neighborhood or what your home is worth, contact the specialists with The Bouma Group at 734-761-3060 or info@bouma.com today!

Ann Arbor Real Estate Market Update – July 2013

Hot Summer Sales for Ann Arbor Real Estate

Ann Arbor Real Estate Statistics for July 2013Ann Arbor home sales remain high through the summer months, one of the busiest times for real estate, with 1267 homes sold in the past 12 months. Since July of 2012, home sales have averaged 1234 per month, indicating a strong and steady pool of buyers. Inventory of homes available for sale has fluctuated and is currently 12% below that of this time last year. With a 5 month supply of homes, Ann Arbor is bordering a seller’s and balanced market.

As home prices continue to climb, more sellers are able to sell their homes when previously they were upside down in their mortgage. It’s still a great time to get your home listed for sale! As you can see, buyer demand continues to be high and is not slowing down. Thinking of selling your home? Contact the Ann Arbor Real Estate specialists with The Bouma Group to find out what your home is worth in today’s market at 734-761-3060 or email info@bouma.com!

Ann Arbor Real Estate Market Summary for 2011

Where is the Ann Arbor Real Estate Market Headed?

Optimism has returned to the Ann Arbor real estate market.  While values are still anywhere from 10-65% below the historic highs, they are no longer in a free fall. Ann Arbor homes are an incredible value right now. Low interest rates + the lowest prices in years = opportunity. I don’t believe that this opportunity will last much longer due to a lack of inventory. Most of the leading indicators show a lack of supply and strong demand. Job growth, lack of new construction, and low interest rates have nudged buyers back into the market. Low inventory, decreasing foreclosures, and slowly rising prices are beginning to nudge sellers back into the market. Both of these trends bode well for a healthy real estate market in Ann Arbor.

Ann Arbor Homes for Sale Trends 2005-2012 Continue reading

Ann Arbor Condo Market Update – December 2011

Ann Arbor Condo Inventory Down 12%

Ann Arbor Condo Real Estate Stats December 2011

When compared with last month, inventory for the overall Ann Arbor condo market has decreased by 12% and the months supply has put it into a seller’s market. Spring will be here before you know it, what a great time to get your condo listed for sale!

Here at The Bouma Group, we track all aspects of Ann Arbor Condos and Real Estate, including: Downtown Ann Arbor Condos, Ann Arbor Condo Complexes, and specific prices points. To learn more about this month’s condo data, or to discuss what is happening in your complex, contact us today at 734-761-3060 or info@bouma.com – we love to talk about Ann Arbor Condos!

Ann Arbor Condo Market Update – November 2011

Ann Arbor Condo Inventory Levels Out

Ann Arbor Condo Market Update November 2011

Here at The Bouma Group, we track all aspects of Ann Arbor Condos and Real Estate, including: Downtown Ann Arbor Condos, Ann Arbor Condo Complexes, and specific prices points. To learn more about this month’s condo data, or to discuss what is happening in your complex, contact us today at 734-761-3060 or info@bouma.com – we love to talk about Ann Arbor Condos!

Ann Arbor Real Estate Market Update – September 2011

Ann Arbor Home Sales Increase!

As the fall Ann Arbor real estate market begins, inventory continues to decline for the overall Ann Arbor school district. When comparing the end of August to the end of September, the number of Ann Arbor homes listed for sale has dropped by 8.2%, and 25% when compared to the high of 789 homes listed in May. The number of homes under contract declined by 6%, and sales for the past 12 months increased by 4.5%. Most price points lost inventory as homes closed and not as much new inventory was listed. However, we did see an increase in inventory in the under $100k market, which went up 14%, and the over $1M mark, which increased just slightly with 1 new listing. The trend of decreasing inventory with increased sales is leveling out, as the homes that sold in the summer have mainly closed. Sales for the past 12 months, in most price points, has stayed fairly steady when compared to last month.

Ann Arbor Residential Home Statistics September 2011

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