Prices Remain Consistent Overall for Ann Arbor Condos
The prices for Ann Arbor condos did not change drastically from last October. For example, the average listing price this past month is $366,788, a minimal increase from the $365,348 prior. New inventory saw a 12.5% rise at 72 condos compared to the 64 from before. As for sold condos, there was a similar increase from 60 to 67 recently – an 11.% increase. The average listing price for condos saw the greatest difference at $12.1% compared to other prices this month, $306,138 versus $343,309. Unfortunately for sellers, the average days on the market is 42, which still remains higher.
In comparison to last year at this time, the statistics remain fairly stable. Last October there had been 856 condos entered, whereas this year there has been 838, which is a slight decrease. The average listing price is also minimally lower, $330,799 versus $327,418 so far this year. There has been a 4.2% decline in the amount sold condos, from 593 to 568 currently. As for the average sale price of $284,023 cumulatively in 2020, it is only down marginally from $288,873 before.