New Inventory Added for Ann Arbor Condos Skyrocket

Ann Arbor condos have seen a drastic increase in the amount of condominiums entered into the multiple listings service this November. A total of 57 units were added, and this is a significant increase of 90% compared to the mere 30 units entered the previous November. The average listing price has seen a 9.6% increase from $347,111 to $380,532 currently. In this past month, 47 homes have been sold in comparison to the 53 in November 2017, a decline of 12.8%. The average sale price is $247,715, which is only a slight decrease from $251,296 the prior November. Unfortunately for sellers, there has also been a considerable 90% decline in the average days on the market, 20 versus 38 days.

So far this year, 750 condominiums have been listed for sale, this is a 10.5% increase from the 679 condos that had been entered at this time last year. The ALP has increased by 18.2%, $297,269 versus $351,490 this year. A total of 509 condos have been sold in 2018, in comparison to the 589 that had been sold by November in the previous year, a 13.6% decline. Cumulatively, the ASP is $283,492 thus far, which is a 11.4% rise compared to $254,502 in 2017.

Whether you are looking to buy or sell a condo, contact the experts with The Bouma Group at 888-581-6923 or email info@condohotline.com. Check back here for all the information you need about Ann Arbor condos and surrounding areas!