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Tag Archives: market update

Ann Arbor Real Estate Report – August 2021

Monthly Sold Inventory Declines

The month of August experienced less drastic change in its metrics. A total of 156 listings were added to the Ann Arbor housing market, only a 3.3% increase from the previous August. Properties sat on the market for an average of 17 days, which was a considerable 45.2% drop from the 31 days in August 2020. There was an 18.4% decline in the amount of sold homes, from 141 to 115 recently. The average sale price increased by 5.9% though, $476,076 versus $504,283.

Since the start of the year, 1,288 homes have been entered into the multiple listings service, and this was a 4.4% change from the 1,234 from this time last year. 915 homes have been sold thus far in comparison to the 765 earlier – a 19.6% increase. Cumulatively, the ASP rose 14.1% to $526,753 versus the $461,649 before.

To learn more about Ann Arbor homes, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View our active listings here!

Balmoral Park, Ann Arbor Condo Report

Balmoral Park Market Update – August 2021

Luxurious features abound at the units at Balmoral Park, there are private porches with natural views, upscale kitchens, and cathedral ceilings. This Ann Arbor condo is also in a prime location near shopping areas, the football stadium, and more. Currently, there are 2 active listings and so far this year, 2 condos have sold; The Bouma Group was the listing agent for one of the sold listings.

Condos for Sale:

  • $315,500. 123 West Oakbrook Drive, Ann Arbor. 1470 sq. ft., + 400 in the finished lower level; 2 bedrooms and 3.0 baths. Sale Pending
  • $305,000. 226 West Oakbrook Drive, Ann Arbor. 1470 sq. ft., + 112 in the finished lower level; 2 bedrooms and 2.0 baths. Sale Pending

Condos Sold in 2021:

  • $311,000. 243 West Oakbrook Drive, Ann Arbor. 1470 sq. ft., + 204 in the finished lower level; 2 bedrooms and 2.0 baths.
  • $310,500. 114 West Oakbrook Drive, Ann Arbor. 1470 sq. ft., + 120 in the finished lower level; 2 bedrooms and 2.0 baths. Listed by The Bouma Group

Last year at Balmoral Park, 2 condos sold with an average sale price of $300,000 and an average price per square foot of $206.60. The 2 condos sold thus far in 2021 have an ASP of $310,750, up 3.6%, and an A$/SF of $211.39, up slightly. If you are curious about Balmoral Park, then contact the experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor condos here!

Ann Arbor Real Estate Report – July 2021

The Average Days on the Market Drop to 12 for Ann Arbor Homes

The Ann Arbor housing market seems to be continuing on a similar trajectory. There was a 25.3% increase in active listings from 162 last June to 203 homes recently. Sellers will be happy to know that the average days on the market declined to only 12 days, a 65.7% difference. As well, the average sale price rose from 12.8%, $472,763 versus $533,139 in June 2021. Sales declined slightly to 146 this past month.

Year-to-date statistics also remained pretty consistent. A total of 1,134 homes have been entered into the multiple listings service thus far, which is a 4.7% increase from the 1,083 last year at this time. Closed sales have seen an even larger increase from 624 to 796 homes, a 27.6% rise. Cumulatively, the ASP is $530,165, which is a 15.7% increase in comparison to the ASP of $458,389 before.

For more information about the Ann Arbor housing market, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. Browse our active listings here!

Ann Arbor Real Estate Report – June 2021

The Ann Arbor Housing Market Stays Similar

In comparison to both last June and the year-to-date statistics, the Ann Arbor residential real estate market has remained consistent. There was a slight increase in the amount of new inventory from 204 to 208 this past month. Sold homes rose as well with 148 properties closing – a 9.6% increase from 135 before. The average sale price increased by 21.2%, thus coming to $547,277 versus the the ASP of $451,615 prior. On average, listings sat on the market for 17 days, a 52.8% decline from the previous June.

Overall, the year-to-date numbers did not show much of a change. 931 homes were added into the multiple listings service so far in 2021, which is a minimal increase from the 921 before. The one considerable change was in the sold homes; there was a 36.4% increase from 475 to 648 currently. Cumulatively, the ASP for those homes was $529,542 in comparison to the $453,880 – a 16.7% rise.

The realtors with The Bouma Group are well versed in the Ann Arbor housing market and can provide you with more information at (734)761-3060 or at info@bouma.com. View our active listings here!

Ann Arbor Real Estate Report – May 2021

Homes are Selling Quickly in Ann Arbor

In May, listings have decreased, sales have increased, and the average days on the market declined by 53.8% to only 12 day for Ann Arbor homes. 186 properties were listed this past month, which was a 20.2% difference from the 233 the prior May. Sellers will be pleased to know that there was a 134.5% increase in sold homes, from 55 to 129 recently. Moreover, the average sale price increased to $542,980 versus the ASP of $496,37 previously, a 9.5% rise. There are currently 153 active listings, which is a 64.7% decrease from last May.

The year-to-date statistics did not see any drastic changes. In fact, the amount of entered listings only increased marginally from 717 last year at this time to 723 now. A total of 497 homes have been sold so far this year compared to the 340 before, showing a 46.2% rise. Cumulatively, the ASP has come to $523,699, which is a 15.2% increase from the ASP of $454,780 earlier.

The Bouma Group has extensive knowledge on the Ann Arbor housing market, so reach out to us at (734)761-3060 or email info@bouma.com for any of your questions. Browse our current listings here!

Ann Arbor Real Estate Report – April 2021

Ann Arbor Homes Experience an Influx of New Inventory

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The Spring season brought many new listings with it this April, there were 172 Ann Arbor homes added to the market, which is a substantial 126.3% increase from the 76 entered last April. Even with more inventory, sellers will be pleased to know that the average days on the market declined by 30%, at only 21 days recently. In comparison to the 83 homes sold the April prior, a total of 121 properties were sold this past month demonstrating a 45.8% rise. The average sale price was a significant 41.4% higher at $605,381 versus the $428,015 ASP before.

As for the year-to-date statistics, there was an overall increase from last year. At this time last year, 484 homes had been listed, but this year there was an 11% increase as 537 properties have been put up for sale. Moreover, there were 512 sold properties, which is a considerable 63.1% rise from the 314 previously. Sale prices experienced a 16% increase from $446,818 to $518,187 currently.

If you have more inquiries about the Ann Arbor housing market, don’t hesitate to reach out to the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View our active listings here!

Ann Arbor Residential Real Estate Report – February 2021

Despite higher listing prices, selling prices remain stable

The second month of the new year isn’t experiencing any massive shifts for Ann Arbor homes so far. There was a 19.1% decline in the amount of new homes added to the market, from 131 to 106 recently. With a dip in inventory, the average listing price increased to $627,352 versus $583,118 the previous February. A total of 63 homes were sold this past month, which was only 1 more from before. There was also a minimal change in the average sale price compared to last year from $458,970 to $456,009. Luckily for sellers, the average days on the market decreased by 22% and is sitting at 46 days currently.

As for the year-to-date statistics, they followed a similar trend to the monthly numbers. 201 homes have been listed this year, an 8.2% decline from the 219 prior. The ALP for these properties increased 9.7% from $549,629 to $602,945. Sold inventory went in the opposite direction by increasing 4% to 129 homes versus 124 before. There was a slight rise in the ASP which was $436,397 earlier to $440,141 recently.

To learn more about the housing market in Ann Arbor, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!

Ann Arbor Residential Real Estate Report – January 2021

A Good Start to the New Year for Ann Arbor Homes

With 2021 underway, you may be curious about how the housing market is looking. Ann Arbor homes did well with more inventory and higher pricing compared to last year. There were a total of 95 properties entered into the multiple listings service, an 8% increase from the 88 listed the previous January. The average listing price for these homes was up 15.1% from $499,776 to $575,423 recently. As for sold inventory, 66 homes were sold versus the 62 the year prior, a 6.5% increase. The average selling price experienced only a 3% increase from $413,824 to $426,240 now. Although the average days of the market were still greater than a month, they did decrease 14.3% (7 days) to 42 days. Since it is the start of the year, all of these statistics are applicable to monthly and yearly comparisons.

If you are interested in learning more about Ann Arbor home values, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!

Ann Arbor Real Estate Report – December 2020

Inventory is Moving in Ann Arbor

With a new year, let’s look back at listings and sales for Ann Arbor homes. In the month of December, there was a total of 61 properties entered into the multiple listings service, a 35.6% increase from last December’s 45 homes. The average listing price for these homes was $530,634 versus the $464,105 previously – a 14.3% rise. Luckily for sellers, there was a 12.6% increase of sold homes, from 95 to 107 recently. As for the average sale price it’s $475,435, which is a 9.3% increase compared to the ASP of $435,454 the year before. On average, homes were on the market for just over a month at 34 days – a considerable 40.4% decrease from 2019.

Now we can examine the statistics for the entire year. 1720 homes were listed this year, which is only a 3.5% decline from the 1783 last year. The average listing price was 4.5% higher from $495,019 before to $517,533 now. In total, 1195 homes were sold in 2020 compared to the 1268 previously, a 5.8% decrease. Cumulatively, the average sale price for these homes increased 3.8% at $473,959, versus the $456,584 before.

For any and all of your Ann Arbor housing needs, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Find more Ann Arbor homes here!

Ann Arbor Real Estate Report – November 2020

Increased Inventory! For Both Listings and Sales

This past November, Ann Arbor homes have seen an increase in the amount of new and sold inventory. A total of 122 homes were entered into the multiple listings service, a 6.7% increase from the 73 last year. The average listing price for these homes only increased by 3%, from $422,004 to $434,586 recently. 108 units were sold in November versus the 76 previously, a 19.5% raise. As for the average sale price, it rose by 14.8% from $442,362 to $504,694. Luckily for sellers, the average days on the market decreased a considerable 21.4% to 33 days.

Looking now at the year-to-date statistics, inventory actually saw a decline. Although only slightly down by 4.5%, the total amount of listings went from 1738 to 1659 so far in 2020. The ALP for these homes was $517,051, a 4.3% increase from the $495,819 last year. A total of 1088 properties have been sold compared to the 1173 from November at this time in the year prior, a 7.2% decline. Cumulatively, the ASP for these sold homes was $473,765, a 3.4% increase from the $458,295 before.

For any and all of your Ann Arbor housing needs, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. To view our current listings, click here!