Is this a good time to buy or sell a home in the Ann Arbor area? I’m sharing all of our market’s relevant data.
Overall, home prices have been unaffected year over year. Year to date, the average sale price is $256,000—completely unchanged. At 0:45 in the video above, see the chart that shows all the data comparing April 2019 to April 2020. The average single-family home sale price has increased by 1.1%, and condo prices are up 11%.
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Interest rates are still low, and inventory will only rise.
”
The number of new single-family homes listed has decreased by 69%, and listings are down 67% for condos. Year to date, the average days on market increased from 43 to 57 days for single-family homes and decreased slightly from 50 to 47 for condos. Overall, fewer units were sold year over year, but it’s still a strong market. Houses that are priced properly are selling. Interest rates are still low, and inventory will only rise.
Now is a wonderful time to take advantage of our market, even amid the new normal. We’re here for you, and we’re ready to search for and sell properties safely.
If you have further questions about our market or real estate in general, reach out to us via phone or email. If you’re out of our area, we can connect you to a top agent anywhere in the world! We’re here to help and add value.
Is this a good time to buy or sell a home in the Ann Arbor area? I’m sharing all of our market’s relevant data.
Overall, home prices have been unaffected year over year. Year to date, the average sale price is $256,000—completely unchanged. At 0:45 in the video above, see the chart that shows all the data comparing April 2019 to April 2020. The average single-family home sale price has increased by 1.1%, and condo prices are up 11%.
“
Interest rates are still low, and inventory will only rise.
”
The number of new single-family homes listed has decreased by 69%, and listings are down 67% for condos. Year to date, the average days on market increased from 43 to 57 days for single-family homes and decreased slightly from 50 to 47 for condos. Overall, fewer units were sold year over year, but it’s still a strong market. Houses that are priced properly are selling. Interest rates are still low, and inventory will only rise.
Now is a wonderful time to take advantage of our market, even amid the new normal. We’re here for you, and we’re ready to search for and sell properties safely.
If you have further questions about our market or real estate in general, reach out to us via phone or email. If you’re out of our area, we can connect you to a top agent anywhere in the world! We’re here to help and add value.