Approximately 20% Increase in Average Sales Price
Both monthly and year-to-date statistics saw a decent increase in the average sale price. In the month of August, Ann Arbor condos had an ASP of $312,212, which was a 24.9% increase from the ASP of $250,020 last August. As well, closed sales rose 10.1% from 69 to 76 condos now. Sellers will also be happy to know that the average days on the market decreased to 29 days, a 35.6% decrease. The amount of listings declined by 5% from 101 to 96 units.
So far in 2021, 788 condos have been listed for sale which is a 10.1% increase compared to the 716 last year. A total of 590 units have been sold since the start of the year versus the 452 previously, a 30.5% rise. The average sale price has increased by 20.3% from $270,011 to $324,765 currently.