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Ann Arbor Real Estate Report – October 2020

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 info@bouma.com for any questions or curiosities! View our current listings and Ann Arbor homes here!

Ann Arbor Real Estate Report – August 2020

Sold Homes in Ann Arbor Remain Stable

Ann Arbor Real Estate Report - Aug 2020

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 info@bouma.com to learn more! Search for your next potential home here!

Ann Arbor Real Estate Report – July 2020

Consistent Sales Compared to the Previous July

Ann Arbor Real Estate Report - July 2020

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.

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Ann Arbor Real Estate Report – June 2020

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 info@bouma.com. Learn more about Ann Arbor and surrounding areas here!

Lakewood, Ann Arbor Real Estate Update

Lakewood Real Estate Report – July 2020

Not only do the homes of Lakewood offer character and charm, but they are surrounded by beautiful foliage. Currently, 3 homes are listed for sale and so far this year, 7 have sold.

Homes for Sale:

  • $359,900. 3020 Hilltop Drive, Ann Arbor. 1225 sq. ft., + 655 in the finished lower level; 3 bedrooms and 3.0 baths. Sale Pending
  • $275,000. 230 Highlake Avenue, Ann Arbor. 1044 sq. ft., + 400 in the finished lower level; 4 bedrooms and 1.0 baths. Sale Pending.
  • $225,000. 120 Mason Avenue, Ann Arbor. 962 square feet with 3 bedrooms and 1.0 baths. Sale Pending

Homes Sold in 2020:

  • $375,000. 2971 Sunnywood Drive, Ann Arbor. 2087 square feet with 4 bedrooms and 2.1 baths.
  • $359,000. 330 Hazelwood Avenue, Ann Arbor. 1426 sq. ft., + 1426 in the finished lower level; 3 bedrooms and 2.0 baths.
  • $357,000. 101 Gralake Avenue, Ann Arbor. 1036 sq. ft., + 880 in the finished lower level; 2 bedrooms and 2.0 baths.
  • $350,000. 312 Mason Avenue, Ann Arbor. 1475 sq. ft., + 400 in the finished lower level; 3 bedrooms and 2.0 baths.
  • $311,000. 3067 Lakeview Drive, Ann Arbor. 1236 sq. ft., + 858 in the finished lower level; 3 bedrooms and 2.0 baths.
  • $285,000. 318 Gralake Avenue, Ann Arbor. 912 sq. ft., + 600 in the finished lower level; 3 bedrooms and 1.1 baths.
  • $243,000. 284 Highlake Avenue, Ann Arbor. 912 square feet with 3 bedrooms and 1.0 baths.

Last year at Lakewood, 12 homes sold with an average sale price of $329,410 and an average price per square foot of $246.34. The 7 homes that sold this year have an ASP $325,714, down minimally, and an A$/SF of $263.41, up 6.9%. If you are interested in learning more about the market at Lakewood, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor neighborhoods here!

Cobblestone Ridge, Canton Real Estate Update

Cobblestone Ridge Real Estate Report – July 2020

Cobblestone Ridge has magnificent homes situated on sizable lots. As well, this Canton subdivision is also located near many conveniences. Currently, there are 3 homes listed for sale and so far this year, 3 have sold.

Homes for Sale:

  • $430,000. 1540 Hereford, Canton. 3237 square feet with 4 bedrooms and 2.1 baths.
  • $415,000. 1516 Hendrie, Canton. 2998 square feet with 4 bedrooms and 2.1 baths. Sale Pending
  • $359,900. 46439 Woodside Drive, Canton. 2633 sq. ft., +2633 in the finished lower level; 4 bedrooms and 2.2 baths.

Homes Sold in 2020:

  • $380,000. 46708 Brookridge Drive, Canton. 2790 sq. ft., + 1434 in the finished lower level; 4 bedrooms and 3.1 baths.
  • $370,000. 46457 Woodside Drive, Canton. 2633 sq. ft., + 650 in the finished lower level; 4 bedrooms and 2.1 baths.
  • $350,000. 46573 Brooridge Drive, Canon. 2780 square feet with 4 bedrooms and 2.1 baths.

Last year at Cobblestone Ridge, 3 homes sold with an average sale price of $362,000 and an average price per square foot of $132.95. The 3 homes that have sold this year have an ASP of $366,667, up slightly, and an A$/Sf of $134.21, also up minimally. If you would like to be updated on the listing and selling activity at Cobblestone Ridge, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Canton homes here!

Brookview Highlands Subdivision, Saline Market Update

Brookview Highlands Real Estate Update – June 2020

There are currently 4 homes listed for sale at Brookview Highlands, and so far this year 3 have sold.

Homes for Sale:

  • $549,000. 354 Crestway Court, Saline. 2809 sq. ft., +1000 in the finished lower level, 5 bedrooms and 3.1 baths. Listed by The Bouma Group
  • $775,000. 1826 Brookview Drive, Saline. 3876 sq. ft., +1800 in the finished lower level, 5 bedrooms and 4.1 baths.
  • $799,900. 1919 Brookview Drive, Saline. 3975 sq. ft., +2000 in the finished lower level, 5 bedrooms and 5.1 baths.
  • $899,900. 2461 Highridge, Saline. 5109 sq. ft., +2100 in the finished lower level, 6 bedrooms and 4.1 baths.

Sold Homes:

  • $562,500. 1844 Brookview Drive, Saline. 2935 square feet with 4 bedrooms and 2.1 baths.
  • $631,000. 6405 Brookview Drive, Saline. 3407 sq. ft., +900 in the finished lower level, 5 bedrooms and 4.1 baths.
  • $720,000. 1870 Stoneridge Drive, Saline. 3707 sq. ft., +1400 in the finished lower level, 5 bedrooms and 3.2 baths.

Last year at Brookview Highlands, 6 homes sold with an average sale price of $734,667 and an average price per square foot of $179.09. The 3 homes sold so far this year have an ASP of $637,833, down 13%, and an A$/SF of $162.67, down 9%. To learn more about homes for sale, market statistics and home values at Brookview Highlands, contact the Real Estate specialists with The Bouma Group today at 734-761-3060 or info@bouma.com. View more Saline Real Estate info here!

Arbor Chase, Ann Arbor Condo Market Update

Arbor Chase Condos, Ann Arbor Update – May 2020

With a great west side Ann Arbor location, Arbor Chase is close to almost every amenity you could need! There are currently 3 units listed for sale and so far this year, 1 have sold.

Condos for Sale:

  • $303,000. 5561 Arbor Chase, Ann Arbor. 1520 square feet with 2 bedrooms and 2.1 baths.
  • $293,900. 5522 Arbor Chase, Ann Arbor. 1290 square feet with 2 bedrooms and 2 baths.
  • $289,000. 5520 Arbor Chase, Ann Arbor. 1290 square feet with 2 bedrooms and 2 baths.

Sold Condos:

  • $319,000. 5594 Arbor Chase, Ann Arbor. 1520 square feet with 2 bedrooms and 2.1 baths.

Last year at Arbor Chase, 4 condos sold with an average sale price of $285,750 and an average price per square foot of $204.51. The 1 condo sold this year has an ASP of $314,000, up 10%, and an A$/SF of $206.58, up 1%. For more information on condos for sale or current market statistics for Arbor Chase, contact us at The Bouma Group, Realtors at 734-761-3060 or info@bouma.com. View photos and amenities for Arbor Chase here!

The Armory, Downtown Ann Arbor Condo Report

The Armory, Ann Arbor Condo Report – April 2020

With a terrific downtown Ann Arbor location, The Armory is a small collection of condos in a historic building near Kerrytown. There is currently 1 unit listed for sale and so far this year, 0 have sold and last year, 1 condo sold.

Condo for Sale:

  • $995,000. 223 E. Ann St. #13, Ann Arbor. 2189 square feet with 2 bedrooms and 2 baths.

Condo Sold in 2019:

  • $576,000. 223 E. Ann St. #7, Ann Arbor. 1632 square feet with 3 bedrooms and 2.1 baths.

No units sold in 2018 and 1 sold in 2017 with a sale price of $457,000 and an price per square foot of $280.02. The sale last year had an A$/SF of 352.94, up 26%, a pretty large increase. To learn more about values, current listings and sales at The Armory, contact us at The Bouma Group, Realtors today at 734-761-3060 or info@bouma.com.

Walnut Glen, Ann Arbor Condo Market Update

Walnut Glen, Ann Arbor Condo Update – April 2020

Located on the west side in Scio Township, Walnut Glen is a popular choice for condo buyers. There is currently 1 condo listed for sale and so far this year, 0 have sold and last year, 10 sold.

Condo for Sale:

  • $214,900. 1171 Joyce Lane, Ann Arbor. 1375 square feet with 3 bedrooms and 2 baths. Sale Pending

2019 Sold Condos:

  • $225,100. 1071 Joyce Lane, Ann Arbor. 1319 square feet with 3 bedrooms and 2 baths.
  • $225,000. 1089 Joyce Lane, Ann Arbor. 1251 square feet with 2 bedrooms and 2 baths.
  • $220,000. 1237 Joyce Lane, Ann Arbor. 1345 square feet with 3 bedrooms and 2 baths.
  • $209,500. 1220 Joyce Lane, Ann Arbor. 1375 square feet with 3 bedrooms and 2 baths.
  • $205,000. 1177 Joyce Lane, Ann Arbor. 1160 square feet with 2 bedrooms and 2 baths.

    For a complete list of sold condos, contact us at 734-761-3060 or info@bouma.com

In 2018, 5 condos sold with an average sale price of $198,400 and an average price per square foot of $162.36. The 10 condos sold last year have an ASP of $207,095, up 4%, and an A$/SF of $169.84, also up 4%. To learn more about condo values at Walnut Glen, contact us at The Bouma Group at 734-761-3060 or info@bouma.com today!