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!