Ann Arbor Condo Report – May 2021
A Significant Increase in Sold Ann Arbor Condos
Although the amount of added inventory for Ann Arbor condominiums is starting to cool, sales are going full steam ahead. There was a 5.3% increase for new listings from 113 last May to 119 recently. Sold condos on the other hand jumped from 35 to 77, a considerable 120%. The average sale price for these condos was $333,663, demonstrating a 12.3% rise in comparison to the ASP of $297,223 prior. One caveat to the seller’s good news is that the average days on the market has increased by 11.8% to 38 days. At the moment, there are 124 listings on the market, a 45.6% decline from the previous May.
Looking at the year-to-date numbers, we see similar trends to the monthly statistics except they tend to be milder overall. A total of 476 condos have been entered into the multiple listings service, which is a 17.2% rise from the 406 before. There was a 59.4% increase for closed sales so far this year, 207 versus 330 in 2021. In comparison to the ASP of $280,718 before, the current ASP increased 9.8% to $308,320.
If you are curious about Ann Arbor condos, contact the specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Discover more Ann Arbor condos here!
Ann Arbor Condo Report – April 2021
Indicators of a Seller’s Market
All of the market statistics for Ann Arbor condos increased this April, therefore displaying favor towards sellers. Firstly, there was a significant 94.1% increase in added inventory from 51 condos to 99 this past month. The average days on the market rose only by 1 day, coming to 27 days before a sale. A total of 86 homes were sold, which is a decent 83% increase from the 47 before. Along with the rise in sales, there was a rise in the average sale price from $247,018 to $304,762 – a 23.4% increase.
Since the start of the year, there has also been a steady rise in numbers. 357 condos have been listed for sale, which is a 21.8% increase from the 293 at this time in 2020. There was an even larger increase of 47.1% for sold units, from 172 to 253 now. The cumulative sale price was $300,606 versus $277,360 previously – an 8.4% rise.
Do you have more questions about the Ann Arbor condo market? The Bouma Group is only a phone call away at 734-761-3060, or you can email us at info@condohotline.com. Browse more Ann Arbor condos here!
Ann Arbor Condo Report – March 2021
Rise in Listed and Sold Inventory
Ann Arbor condos saw an increase in all of their statistics in the month of March. 100 units were added to the market, versus the 91 last March, a 9.9% increase. The average listing price for these condos went from $283,169 before to $394,977, a considerable 39.5% rise. There was a total of 57 sold condos, which was a 35.7% increase from the 42 prior. The average sale price increased by 6% from $271,228 to $287,566. Luckily for sellers, the average days on the market dropped to 40 days – 32.2% decline.
Like the monthly numbers, the year-to-date statistics also experienced an increase. It was slight, but the added inventory came to 239 condos versus the 236 before. The cumulative listing price increased 15.9% from $346,810 to $402,110. A total of 149 units were sold, compared to the 123 last year at this time, a 21.1% rise. The average sale price was $295,504 so far this year, which was a minimal increase from the ASP of $292,277 previously.
If you would like to learn more about the condo market at Ann Arbor, contact the specialists with The Bouma Group at 734-761-3060 or email info@bouma.com. Discover available Ann Arbor condos here!
Ann Arbor Condo Report – February 2021
New Inventory Hits the Ann Arbor Condo Market
This month saw a significant 29.7% increase in condos added to the Ann Arbor market, there were 83 new units compared to the 64 last February. The average listing price for these condos came in at $404,727, which is a 23.7% rise from the ALP of $327,271 before. A total of 46 units were sold versus the 39 the previous year, a 17.9% increase. Unfortunately for sellers the average sale price did not continue with the upwards trend and it actually decreased 10.8% from $287,085 to $256,212 recently. As well, the average days on the market rose 51.1% with condo listings usually lasting 68 days before being sold.
Looking at the cumulative statistics for this year, numbers tended to remain relatively similar. 139 condos were entered in to the multiple listings service, a slight decline from the 145 at this time in 2019. The ALP for these homes experienced a 13.7% increase from $355,506 to $404,245 currently. There were 92 condos that have so thus far versus the 81 before, a 13.6% rise. As for the ASP, it was $300,422, which is a minimal decline compared to the ASP of $303,191 before.
If you are interested in learning more about condo values at Ann Arbor, contact the experts with The Bouma Group at 734-761-3060 or email info@bouma.com. View more Ann Arbor condos here!
Ann Arbor Condo Report – January 2021
A Seller’s Market? Less New Inventory & More Sold Inventory for Ann Arbor Condos
It seems as though the new year was in favor of buyers for Ann Arbor condos. A total of 53 units were listed for sale, a considerable 34.6% decline from the 81 last January. The average listing price increased by 5% from $378,064 to $397,148 now. There were 46 sold condos versus the 42 previously, a 9.5% increase. And their average selling price was $344,631, which was an 8.3% rise from the ASP of $318,148 the year before. Even better news for buyers, the average days on the market decreased a significant 45.8% (27 days) to 32 days. The first month of the year means that the numbers account for both monthly and yearly comparisons.
To learn more about the condo market at Ann Arbor, contact the specialists with The Bouma Group at 734-761-3060 or email info@bouma.com. View more Ann Arbor condos here!
Ann Arbor Condo Report – December 2020
Almost Two Months on Average for Condos to be on the Market
While there is more inventory and higher prices for Ann Arbor condos, the average days on the market is 60 days. There were 39 units listed in the month of December, a significant 77.3% increase from the 22 last December. The average listing price increased by 7.7% from $328,682 to $354,032. A total of 37 condos were sold versus the 34 previously, a 8.8% raise. The average sale price for these condos was $298,568, which is a 8.5% increase from $275,208 the December prior.
Looking at the year-to-date statistics, they remained relatively consistent with 2019’s numbers. There was only a slight increase compared to last year with 934 being entered into the multiple listings service. The ALP decreased slightly from $333,407 to $327,532 now. 652 condos were sold this year, a small decline from the 663 before. As for the ASP, it went from $289,580 to $287,597 currently, a minimal decrease.
For more information about Ann Arbor condos, contact the experts with The Bouma Group at 734-761-3060 or email info@bouma.com. Read more condo tips here!
Ann Arbor Condo Report – November 2020
Market Statistics are Seemingly Stable for Ann Arbor Condos
Overall, Ann Arbor condos have not see a considerable change in inventory or prices in November 2020. 56 condos were listed for sale, a 6.6% decrease from the 60 last year. As for the average listing price of these units, it was down similarly by 6.7% from $346,889 to $325,097. Sellers would be happy to know that there was an increase in the amount of sold inventory, 36 versus 47 last month, a 30.6%. The average sale price for these condos was $309,602, a 3.4% decline from the $320,480 prior. Unfortunately, the average days on the market increased substantially by 62.9% to 57 days.
As for the numbers cumulatively this year, the amount of condos entered into the multiple listings service was identical compared to 2019 at this time – 895 units. The ALP only declined slightly from $334,014 to $326,761. A total of 615 condos have been sold so far in 2020, a minimal decrease from before. As well, the ALP was also only slightly lower at $286,027 compared to the $290,487 previously.
If you are curious about Ann Arbor condos, don’t hesitate to speak with the experts at The Bouma Group at 734-761-3060 or you can contact them via email info@bouma.com.
Ann Arbor Condo Report – October 2020
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.
If you are interested in listing or buying an Ann Arbor condo, contact the specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Stay updated on Ann Arbor condos here!
Ann Arbor Condo Report – June 2020
Listed and Sold Inventory Remain Balanced
With the start of summer, the inventory for Ann Arbor condos have maintained their balance. Last June, 68 condos were both listed and sold, and although there was a 14.7% decline on the whole this June, 58 condos were listed and were also sold. The average listing price has increased 6% from $316,090 to $335,158. And as for the average selling price, it experienced a decline, $298,525 versus $272,911 now – an 8.6% difference. Unfortunately for sellers, the average days on market has drastically increased by 112% to 53 days.
Examining the year-to-date statistics, we see an overall decline in all areas. The amount of newly added listings has dropped by 27.8% from 421 condos to 304 entered so far this year. And for these condos the ALP is $326,550, a 4.3% decrease from $341,102 previously. A total of 168 condos have been sold thus far, and compared to the 293 last year at this time, this is a significant 37.5% decline. Thankfully, the ASP has seen a lesser difference of 7.7%, from $291,760 to $269,337.
Although the future of the condo market may seem uncertain, let the experts with The Bouma Group help with all of your questions and concerns. You can contact us at (888)581-6923 or email info@condohotline.com. Learn more about Ann Arbor condos here!
Ann Arbor Condo Report – February 2020
Lower Prices for Ann Arbor Complexes
In the month of February, Ann Arbor condo units experienced lower prices overall. The average listing price decreased slightly by 3% from $361,306 to $350,632. More listings were entered this past month though, last February had 43 while most recently 52 condos were added, a 21% increase. As for sold condos, 31 were sold which is an 8.8% decrease compared to the 34 sold previously. There has been a 4.3% decline in the average sale price, from $294,208 to $281,585 currently. Condo sellers will be excited with the 33.8% decrease in the average days on the market to 43 days.
As for the year-to-date statistics, there has been a considerable increase in the amount of listings from 81 to 110 units, a 35.8% change. The ALP overal is $363,710, risen slightly by 4.3% from last year’s ALP of $348,707. So far this year 62 condos have been sold, and in comparison to the 70 condos prior this is an 11.4% decline. The ASP has decreased by 6.1% from $298,639 to $280,296 cumulatively now.
For all of your condo questions and quandries, contact the condo experts with The Bouma Group at 734-761-3060 or email info@condohotline.com. Check back here for more updated information on Ann Arbor condos!