Decline in Listing and Selling Prices for Ann Arbor Condos
Ann Arbor condos have seen a decline in many facets this new year. 38 units were listed this January, only a 5% decrease from the 40 sold the previous January. The average listing price declined 16.4%, $334,687 versus the $400,116. The great news for sellers is that 35 units were sold, which considering only the 38 units entered in January, means that 92% of the condos listed were theoretically sold. Further, compared to the first month of 2017 when only 23 condos, January 2019 saw a 52.2% rise in condos sold. Selling prices declined though, from $327,434 to $297,333, a 9.2% lower. Unfortunately for sellers, the average days on the market is extremely high at 76 days.
For all your condominium quandaries and questions, contact the condo specialists with The Bouma Group at (888)581-6923 or email firstname.lastname@example.org. Keep up with our blog for all the information you need to know about Ann Arbor condos and surrounding areas!