Category: Monthly Market Update

Every month Todd Waller dives deep into the previous month’s Ann Arbor Michigan real estate market stats and delivers exciting insights into the status of the Ann Arbor Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ann Arbor Michigan Real Estate Market

The market is shifting, and while it will take some time for the numbers to catch up, some things are becoming apparent. These July 2022 stats are compared to the previous year’s July 2021 statistics.

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ann Arbor in the month of July 2022, was $516,612, this is up 13.34% compared to July 2021 .The median sales price for Ann Arbor is $430,000 which is up 4.37%.

Days on Market

Properties sold in July of 2022 were on market for an average of 13 days. This is down 18.36% from July 2021. This reflects the low inventory we are seeing in the market, we need more than two weeks on average for our market to get back to a healthy place.

Properties Sold At or Above List Price

July of 2022 saw a 6.28% decrease in the number of properties sold, compared to July of 2021, with a total of 209 properties receiving new owners. Not a huge number, but significant enough to call attention to.

In July of 2022, 69.38% of the properties sold at or above list price; so that means of the 209 homes sold, 145 sold at or above listing price.

What to do With This Information?

If you are a home owner in Ann Arbor, and would like some guidance in this shifting market, we are happy to help!

Maybe you are looking to pull some equity from your home, we can be your real estate resource.

If you are looking to purchase in Ann Arbor, we have years of experience within the city of Ann Arbor, and will happy to help you find your new home in the city we all love.

Every month Todd Waller dives deep into the previous month’s Ann Arbor Michigan real estate market stats and delivers exciting insights into the status of the Ann Arbor Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ann Arbor Michigan Real Estate Market

The 2022 Ann Arbor real estate market continues to be a strong sellers market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These May 2022 stats are compared to the previous year’s May 2021 statistics.

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ann Arbor in the month of May 2022, was $516,732, this is up 11.46% compared to May 2021 .The median sales price for Ann Arbor is $457,135 which is up 8.58%.

Days on Market

Properties sold in May of 2022 were on market for an average of 14 days. This is down 35.23% from May 2021.

Properties Sold At or Above List Price

May of 2022 saw a 13.53% increase in the number of properties sold, compared to May of 2021, with a total of 235 properties receiving new owners.

In May of 2022, 81.7% of the properties sold at or above list price; so that means of the 235 homes sold, 192 sold at or above listing price. This metric is another way to gauge the supply/demand inequity in the Ann Arbor market.

When well over half of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market.

What to do With This Information?

If you own a place in Ann Arbor, or are thinking of purchasing in Ann Arbor, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Ann Arbor sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Given that this is Ann Arbor, though, demand will always run higher than other communities around South East Michigan. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.

Every month Todd Waller dives deep into the previous month’s Ann Arbor Michigan real estate market stats and delivers exciting insights into the status of the Ann Arbor Michigan area real estate market. Subscribe to the Studio Four8 YouTube channel and never miss an update again!

Ann Arbor Michigan Real Estate Market

The 2022 Ann Arbor real estate market continues to be a strong sellers market, with low inventory levels, strong price appreciation, and many over list price sales occurring. These April 2022 stats are compared to the previous year’s April 2021 statistics.

Average Sales Price

The average sales price for a single family property (house or condo) sold in Ann Arbor in the month of April 2022, was $517,854, this is up 7.97% compared to April 2021 .The median sales price for Ann Arbor is $440,000 which is up 14.73%.

Days on Market

Properties sold in April of 2022 were on market for an average of 13 days. This is down 41.82% from April 2021.

Properties Sold At or Above List Price

April of 2022 saw a 4.78% decrease in the number of properties sold, compared to April of 2021, with a total of 199 properties receiving new owners.

In April of 2022, 84.92% of the properties sold at or above list price; so that means of the 199 homes sold, 169 sold at or above listing price. This metric is another way to gauge the supply/demand inequity in the Ann Arbor market.

When a little over half of all home sales are at or above list price, you can be sure that there is fierce competition among buyers for the limited stock of inventory that is coming to market.

What to do With This Information?

If you own a place in Ann Arbor, or are thinking of purchasing in Ann Arbor, Studio Four8 is here to help you navigate the current market, regardless of the conditions. The current market conditions favor Ann Arbor sellers. This is evident by the short days on market, and the percentage of properties selling at and above list price. So, for sellers, this is a great time to be selling. Reach out to a Studio Four8 agent and learn how we maximize the market conditions for your specific home selling scenario.

For purchasers, this is a challenging market, to be sure. Given that this is Ann Arbor, though, demand will always run higher than other communities around South East Michigan. Chat with an agent at the Studio and learn how your offer will be considered by a seller, and how we can shorten your time looking for a property.