The ups and downs of our market are much like the ski hills of Vail, Colorado, where we’re filming today’s video. After going over last year’s data from the Ann Arbor Board of REALTORS®, the most important number we found was the average sales price for single-family homes, which rose 4% compared to 2018. The average sales price for condominiums, meanwhile, rose 1%.
Year over year, the average days on market for single-family homes rose from 35 to 37 days, and the average for condominiums rose from 28 to 43 days. Sometimes when you see the average days on market lengthen, it’s an early indication that a shift is coming.
“
When looking at the real estate market, it’s important
to know what’s happening in your price range.
”
Another year-over-year number to keep in mind is the total number of new residential listings, which rose 1%. This is a good sign, as it implies that we’re moving toward a more balanced market.
When looking at the real estate market, it’s important to know what’s happening in your price range. If you want to know the average days on market and absorption rate of every market segment, give us a call or check out the full statistics we’ve provided in today’s video:
If you’d like a live property review, feel free to reach out to us as well. Online home valuations don’t know what’s inside your house, but we’d be happy to check it out for you. We can also help you with tax planning, trust planning, or preparing your home to sell.
What happened in the real estate market in 2019?
The ups and downs of our market are much like the ski hills of Vail, Colorado, where we’re filming today’s video. After going over last year’s data from the Ann Arbor Board of REALTORS®, the most important number we found was the average sales price for single-family homes, which rose 4% compared to 2018. The average sales price for condominiums, meanwhile, rose 1%.
Year over year, the average days on market for single-family homes rose from 35 to 37 days, and the average for condominiums rose from 28 to 43 days. Sometimes when you see the average days on market lengthen, it’s an early indication that a shift is coming.
“
When looking at the real estate market, it’s important
to know what’s happening in your price range.
”
Another year-over-year number to keep in mind is the total number of new residential listings, which rose 1%. This is a good sign, as it implies that we’re moving toward a more balanced market.
When looking at the real estate market, it’s important to know what’s happening in your price range. If you want to know the average days on market and absorption rate of every market segment, give us a call or check out the full statistics we’ve provided in today’s video:
Market Snapshot
Ann Arbor Market Stats
Market Timing & Data
If you’d like a live property review, feel free to reach out to us as well. Online home valuations don’t know what’s inside your house, but we’d be happy to check it out for you. We can also help you with tax planning, trust planning, or preparing your home to sell.