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 – August 2020
More Inventory for Both Listings and Sales
Ann Arbor condos saw an increase in new and sold inventory this August 2020. New listings were up 14.5% at 71 condos, and this is in comparison to the 62 last August. The average listing price for these condos was $269,522, versus $362,526 before, down 25.7%. A total of 54 condos were sold this past month, a 22.7% increase from the 44 prior. Unlike the ALP, the average sale price rose 7% from $237,738 to $254,295 currently. The average days on the market was the same as Ann Arbor homes, at 29 days.
Looking at the year-to-date statistics, there was a 3.9% increase in inventory from 489 previously to 508 currently. The ALP for homes thus far is $304,478, a minimal increase from $303,238 before. Unfortunately for sellers, there was a 9% decline in the amount of sold homes from 489 to 508 now. The ASP is down 8.4% from $279,880 to $256,508 so far this year.
If you would like to learn more about the Ann Arbor condo market, contact the specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Read more about Ann Arbor condos here!
Ann Arbor Condo Report – July 2020
Comparable Inventory for Ann Arbor Condos
Besides year-to-date sales, all other inventory for Ann Arbor condos have remained stable. July saw 108 new units hit the market, a 4.9% increase from the 103 last July. The amount of sold condos experienced a decline of 4.8%, from 83 to 79 this past month. As for the average listing price, it came to $314,864 versus $293,782 before, a 7.2% rise. Like usual, the average selling price was lower than the average listing price. The ASP for the previous July was $277,709, this year had an 8.4% decrease to $254,375. Luckily for sellers, the average days on the market is down a considerable 22% from July 2019 to 32 days this month.
Aforementioned, the biggest change for the year-to-date statistics was related to the amount of sold condos – 378 units have been sold so far, and this is 13.7% decrease from the 438 last year. A total of 611 condos have been entered into the MLS in 2020, and this is a less drastic difference compared 631 previously, a 3.2% decline. The ALP has seen a minute decrease, from $328,760 to $322,336 now. Cumulatively the ASP is $271,931, which is a 5.6% decline from $288,142 before.
For all of your condos needs, contact the condo specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Read more about 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!
Ann Arbor Condo Report – December 2019
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 734-761-3060 or email info@condohotline.com. Stay tuned for updated information about Ann Arbor condos!
Ann Arbor Condo Report – November 2019
Decrease in Sold Ann Arbor Condos
Ann Arbor condos have seen an overall decline in inventory, more prominently for the amount of sales. A total of 45 condos have been listed this past November, and this is a 21.1% decline from the 57 previously. The average listing price has also declined from $380,532 to $329,900, a 13.3% difference. There has been a 36.2% decrease in the amount of sold units, 47 November 2018 versus 30 recently. The average sale price is at $299,695 and this is a 21% increase compared to last November’s $247,715. As for the average days on the market, it is exactly the same at 38 days.
As for the year-to-date statistics, there has been a decrease in listings numbers but an increase for selling data. Thus far, 716 condos have been listed and this is a 4.5% decline compared to the 750 sold before. The ALP now is $333,598 versus $351,490 previously, a 5.1% decrease. As for the amount of sold inventory, 528 units have been sold and this is a 5.7% increase in comparison to the 509 last year at this time. Cumulatively, the ASP is $285,331 and this has risen minimally from the $283,492 prior.
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 info@condohotline.com. Check back here for the latest news for Ann Arbor condos!
Ann Arbor Condominium Report – August 2019
Slow Activity for Sellers
In the month of August, Ann Arbor condos saw a decline in both the average selling price and the amount of properties sold. 68 condos were listed for sale this past month, which is a 8.1% difference compared to the 74 entered last August. The average listing price rose 19% from $310,161 to $369,184 currently. Only 45 units were sold versus the 62 sold the August prior, a considerable 27.4% drop. As well, the ASP also decreased significantly to $235,966, which is a significant 27% from the previous $323,219 last August. One positive note for sellers though, is that the average days on the market remains below one month at 21 days.
As for the year-to-date statistics, numbers have remained relatively stable. Since August 2018, 562 condos have been entered into the multiple listings service, and this is only a slight decrease compared to the 576 before. The ALP has declined 4.8% from $350,041 to $333,266 now. Compared to the previous statistics, more condos have been sold thus far versus last year’s 374, a 8.6% increase to 406 sold condos. Cumulatively, the ASP is $282,923 and this is only a small decrease of 4.8% in comparison to the prior report where the ASP was $296,786.
The Bouma Group is here to help with all of your condo needs, contact the experts at 734-761-3060 or via email info@condohotline.com. Check back for more information on Ann Arbor condos!
Ann Arbor Condominium Report for July 2019
Condo Prices Declining
Both listing and selling prices for Ann Arbor condos have significantly decreased in comparison to last year’s statistics. In the past month, 74 units were listed and this is a 22.1% decline compared to the 95 entered into the MLS the July prior. The average listing price has dropped a considerable 35.4% from $415,405 to $268,219 presently. Compared to July 2018, there has only been a slight rise in the amount of sold condos, 64 versus 68 units. Similar to the ALP, the average selling price has also declined, from $323,768 to $275,919, a 14.8% decrease. Unfortunately for sellers the average days on the market for this July has tripled to 40 days. (more…)