A Decline in Prices in All Domains

There has been a decrease in both listing and selling prices for monthly and year-to-date numbers for Ann Arbor condos. Firstly, there has been a 29.6% fall in the amount of entered inventory for the month of December with 19 units being added, compared to the 27 previously. The average listing price is $306,852, and this is a 18.8% decrease from the $306,852 last December. A total of 27 condos were sold this past month, versus the 30 prior, a 10% decline. Unfortunately for sellers, the average days on the market has decreased 43.2% from 37 to 53 days currently.

Like the numbers for December, the year-to-date statistics have also seen a decline in prices. The ALP is $332,687, which is a 5.5% decrease compared $352,094 from before. As well, the amount of new listings has also fallen from 778 to 736 condos, a 5.4% decrease. For sold inventory there has been a 3.2% increase, 539 condos previously and 556 for 2019. Considering all selling prices, the ASP has come to $284,727, and this is a minimal decline in comparison to $288,012 at this time prior.

For all of your condo quandaries and questions, contact condo experts with The Bouma Group at (888)581-6923 or email info@condohotline.com. Stay tuned for updated information about Ann Arbor condos!