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 firstname.lastname@example.org. View our active listings here!
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 email@example.com for any of your questions. Browse our current listings here!
Ann Arbor Homes Experience an Influx of New Inventory
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 firstname.lastname@example.org. View our active listings here!
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.
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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.
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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.
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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 firstname.lastname@example.org. To view our current listings, click here!
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.
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Sold Homes in Ann Arbor Remain Stable
Overall, Ann Arbor homes experienced fairly consistent statistics this August compared to last year’s. There were a total of 129 homes entered into the multiple listings service, a 12.2% decline from the 147 previously. As for the average listing price, it increased 10.3% from $453,907 to $500,484 this past month. 113 properties were sold in August, and this is a minimal decrease from the 114 before. The average days on the market was 28, which is less than a month’s time, and the previous August’s 30 average DOM – down 6.7%.
Since the start of the year, 1013 homes have been listed for sale and this is a 13.6% decline from the 1173 homes at this time last year. The ALP is $505,357 cumulatively, compared the August prior of $494,486 – a slight increase. The inventory of sold homes has declined 12.2%, 743 homes versus 652 so far this year. Thus far, the ASP for homes in 2020 is $454,112, a small rise from $449,731 previously.
The Realtors with The Bouma Group understand the Ann Arbor housing market well, and are here to help with all of your questions. Contact us at (734)761-3060 or email firstname.lastname@example.org to learn more! Search for your next potential home here!
Consistent Sales Compared to the Previous July
Luckily for Ann Arbor sellers, the number of sales this July was similar to that of last July’s, a total of 148 homes were sold versus the 149 prior, a minimal decrease. The amount of listings that entered the market was a greater difference however, from 191 to 164 recently, making a 14.1% decline. There was an 8.8% increase in the average listing price, $484,466 versus $527,078. As well, the average selling price saw an increase, from $450,120 in July 2019 to $481,242, a rise of 6.9%. Although the amount of sold homes is good news for sellers, unfortunately the average number of days on the market is not – there was a 45.8% increase to 35 days.