Your personal home-buying schedule doesn’t have to correspond with the real estate market! In fact, buying during the “off season” can yield tremendous advantages.
The “off season” differs depending on your specific location, but always refers to the period of time during a calendar year when both inventory and competition are low. Usually, this corresponds with the weather conditions in a particular area.
If you’re going to buy a home, you may just want to begin looking for your dream home during this period of market inactivity. Here’s why:
There’s Less Competition
During the off season there are typically far fewer active buyers looking for homes, as most buyers prefer to look for homes when the weather is great or their kids are out on summer vacation. If you’re searching during the off season, you won’t feel as much pressure from other buyers looking at the same homes as you.
This gives you plenty of time to tour homes, think about them, and come to a decision about whether or not you want to put an offer down.
Ann Arbor Home Inventory Reaches New Low
Inventory for Ann Arbor homes has reached a new Spring low, and is down 4% from this time last year, based on data from the Ann Arbor Area Board of Realtors. This is beginning to affect the number of home sales with 6% less homes closing this April compared with last April. The lack of supply is creating a larger demand and as a result, average sale prices are rising and days on the market are decreasing. The average DOM is 21 compared with 35 and the ASP is up 4.5% at $414,281 vs. $396,224 last April.
With the continued price increases in the Ann Arbor area, your home may be worth a lot more than you think! For more information on the current market conditions or to find out what your home is worth, contact the Ann Arbor Real Estate specialists with The Bouma Group at 734-761-3060 or email@example.com. Search the MLS for homes here!
Higher Price Points Slow for Ann Arbor Real Estate
The overall Ann Arbor Real Estate market remains in a seller’s market with a current month supply of 4.2. This is mainly due to declining inventory and strong sales throughout the summer months. A reduction in inventory is typical for this time of year, but with high sales, more homes listed for sale would be a great thing to keep the market moving. However, homes priced over $700,000 are selling much more slowly. There are currently 118 listings in this price range with only 16 under contract, and a 12.8 month supply. 19 of the homes listed are new construction and 4 of those are under contract.
To keep up with the latest Ann Arbor Real Estate news, be sure to bookmark our blog so you can see the latest news, new listings, local events, and more. And for any questions on the current market or what is going on in your particular subdivision, contact us at The Bouma Group, Realtors at 734-761-3060 or email firstname.lastname@example.org.
Saline Real Estate Ends 2015 in a Seller’s Market
It’s good news for sellers of Saline Real Estate. 2015 ended in a seller’s market with a 4.1 month supply of homes listed for sale. This is due to extremely low inventory of available homes and higher sales for the year. At the end of 2014 there were 146 Saline homes for sale, compared with 143 this year, and about 302 homes sold, compared with about 415 this year. Home sales were up approximately 37% with virtually the same amount of inventory.
There are plenty of buyers out there looking for homes to purchase, which is apparent in the number of homes that sold. If you have been thinking of selling your home, but aren’t sure what it’s worth in today’s market, contact us at 734-761-3060 or email email@example.com for a free home valuation. Don’t wait for the spring market, let your home stand out to buyers now! See Saline Homes for Sale here.
Year Ends in Strong Seller’s Market for Ann Arbor
Ann Arbor Real Estate ended the year in a strong seller’s market with a 2.6 month supply of homes listed for sale. Inventory continues to dwindle, as it typically does this time of year, but it is at its lowest point in quite a few years. All price points have a relatively low month supply, even the higher price points. Sales remain steady and were up 12.5 percent compared to a year ago. According to the Ann Arbor Area Board of Realtors, The Ann Arbor area was a real estate hot spot in 2015, making the top 20 list for hottest real estate markets in the United States.
This huge lack of inventory makes this the best time to get your home listed for sale! Don’t wait for the spring market to get here, buyers are out there now and are scooping up great houses in record time. Call us today at The Bouma Group for a market analysis of your home – it’s quite possibly worth a lot more than you think! 734-761-3060 or firstname.lastname@example.org.
Rising Inventory Helps to Balance the Market
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 email@example.com, and visit our website to begin your home search or find out the value of your current home!
Saline Real Estate Inventory Down 41%
Saline Real Estate sales remain strong despite the fact that the number of homes listed for sale has decreased. Compared with a high in June of 215 homes for sale, the year ended with a 41% reduction of inventory with only 126 listings. Lowered inventory is typical for this time of year, as would-be sellers wait until after the holidays and the stronger spring market to list their homes. But we haven’t seen inventory this low in a while; at the end of last December there were 149 homes listed. Saline has entered a seller’s market for the first time this year with a 4.2 month’s supply of homes listed for sale.
If you’ve been considering selling your Saline home, beat the competition of the spring market and get listed now! Sales are higher than they’ve been in years. Not sure what your home is worth? Contact us at The Bouma Group for a market analysis, your home may be worth more than you think. Call us at 734-761-3060 or email firstname.lastname@example.org to get started!
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!
Now is the Time to List Your Ann Arbor Home!
While compiling market statistics today for our friends at Ann Arbor.com, the lack of inventory at the most popular Ann Arbor subdivisions became even more clear. Due to the velocity of home sales in the past year, without a break in pace throughout the winter months, there are currently not many choices for buyers in the marketplace.
Thinking about selling your home, but not sure what it’s worth? Ann Arbor Real Estate prices have seen big increases, even since the beginning of the year, and continue to climb. Your home may be worth more than you think! The spring market is around the corner and with that comes a natural increase in homes listed. Buyers are ready to purchase now and as you can see, choices are limited. Get a jump on the competition and get your home listed! Call us today at 734-761-3060 or email firstname.lastname@example.org for a market analysis and find out what The Bouma Group can do to get your home sold now!