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 – 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 – 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 Condominium Report – September 2019
Listing Prices Remain Consistent
Overall, there has not been much variance in the statistics for Ann Arbor condos compared to the 2018 numbers. In the month of September, listing prices declined minimally from $322,848 last year to $315,491 currently. 62 condos were listed for sale and this is a 19.2% increase compared to the 52 sold last September. There was a 12% decrease in the amount of sold listings this past month with 44 units being sold compared to the 50 that were sold previously. The average sale price was $285,726 versus the ASP of $233,240 in September 2018, a 22.5% decline. Unfortunately for sellers, the average days on the market has drastically risen to 64 days, which is more than one and a half times longer than last September’s 24 days.
Looking at the year-to-date statistics, we can see that most of the numbers have remained similar to before. A total of 624 listings have been entered thus far, and this is a minimal decline from the 629 last year at this time. The average listing price has decreased 4.7% to $330,939 from $347,334. Despite the recent decline in sales this September, the total amount of sold condos has gone from 427 to 451, a 5.6% rise. As for the ASP, there has only been a slight decrease in prices, $288,938 versus $283,290.
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. Stay tuned for more updated information on Ann Arbor Condos!
Ann Arbor Condo Report – March 2019
Spring Inventory Sees a Spike
If you’re looking to buy an Ann Arbor condo, now is the time to do so! There has been a large increase in new listings, from 69 units to 90, resulting in a 30% increase. Further, listing prices have also experienced a 13.2% drop from $377,729 to $327,774 this past month. Unfortunately new inventory has been slower to exit the market, with only 29 condos selling comparative to the 35 last March – a 17% decrease. Unfortunately, the average days on the market is 52 days, a massive 160% rise. There has been a 9% increase in selling prices though, $278,132 versus $303,492.
Looking at the year-to-date statistics, there has been 171 units sold since last March, a 9% increase from the 147 the previous year. Cumulatively, the average listing price is $337,421, which is a 8% in comparison to $367,749 to the year prior. Thus far, 99 condos have been sold and last year 80 were sold at this time – a 23.7% increase. There was a 3.7% in the ASP from $288,887 to $300,060.
Whether you are looking to buy a condo or are considering selling, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@condohotline.com. Stay up-to-date on all of your Ann Arbor condo needs by checking back here!
Ann Arbor Condo Report – January 2019
Decline in Listing and Selling Prices for Ann Arbor Condos
Ann Arbor condos have seen a decline in many facets this new year. 38 units were listed this January, only a 5% decrease from the 40 sold the previous January. The average listing price declined 16.4%, $334,687 versus the $400,116. The great news for sellers is that 35 units were sold, which considering only the 38 units entered in January, means that 92% of the condos listed were theoretically sold. Further, compared to the first month of 2017 when only 23 condos, January 2019 saw a 52.2% rise in condos sold. Selling prices declined though, from $327,434 to $297,333, a 9.2% lower. Unfortunately for sellers, the average days on the market is extremely high at 76 days.
For all your condominium quandaries and questions, contact the condo specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Keep up with our blog for all the information you need to know about Ann Arbor condos and surrounding areas!
Ann Arbor Condo Report – December 2019
More Inventory with Higher Prices for Ann Arbor Condos
In December, Ann Arbor condos saw an increase in inventory listed and sold, as well as, prices that were higher in contrast to 2017. Although low in comparison to November’s inventory, both the amount of listings and sales increased in comparison the December 2017 and more units were sold than listed in. A mere total of 27 condos were entered into the multiple listings service last month, but this is a 42.1% increase from the 19 condos entered the prior year in December. The average listing price experienced a significant 60.5% rise from $235,319 to $377,824 now. 30 condos were sold, meaning that 3 more condos were sold than were listed; further, this is a 11.1% increase compared to December 2017. Unfortunately for seller’s, the ALP was below the ASP which was $347,406, versus the ASP in the previous year which was $223,741, a considerable 55.3% difference. The average days on the market exceeded one month at 37 days.
Being the final report for the year 2018, we will now look at the total statistics for the year. A total of 778 condos were listed this past year, exceeding the 698 last year for an 11.5% jump. Cumulatively, the average listing price was $352,094 in comparison to the $295,521 in 2017, an increase of 19.1%. Comparative to both 2018’s listing price and 2017’s selling price, 2018’s ASP was below both; $288,012 was the ASP which was a 13.5% decline from 2017.
For all of your condominium quandaries and questions, contact the specialists with The Bouma Group at 734-761-3060 or email info@condohotline.com. Keep up with our blog for all of the information you need to know about Ann Arbor condos and surrounding areas!