Listing Prices Remain Consistent

Overall, there has not been much variance in the statistics for Ann Arbor condos compared to the 2018 numbers. In the month of September, listing prices declined minimally from $322,848 last year to $315,491 currently. 62 condos were listed for sale and this is a 19.2% increase compared to the 52 sold last September. There was a 12% decrease in the amount of sold listings this past month with 44 units being sold compared to the 50 that were sold previously. The average sale price was $285,726 versus the ASP of $233,240 in September 2018, a 22.5% decline. Unfortunately for sellers, the average days on the market has drastically risen to 64 days, which is more than one and a half times longer than last September’s 24 days.

Looking at the year-to-date statistics, we can see that most of the numbers have remained similar to before. A total of 624 listings have been entered thus far, and this is a minimal decline from the 629 last year at this time. The average listing price has decreased 4.7% to $330,939 from $347,334. Despite the recent decline in sales this September, the total amount of sold condos has gone from 427 to 451, a 5.6% rise. As for the ASP, there has only been a slight decrease in prices, $288,938 versus $283,290.

The Bouma Group is here to help with all of your condo needs, you can contact the experts at (734)761-3060 or via email Stay tuned for more updated information on Ann Arbor Condos!