$3,563 Closing Credit*
$300,000
1,768 SqFt
3 Beds
•1 Full Bath, 1 Partial
Anne Harlow, Listing Office: Howard Hanna Real Estate
Is Ann Arbor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Ann Arbor has remained a Seller's Market.
Key Takeaway
Ann Arbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ann Arbor, MI
How much do homes in Ann Arbor, MI cost?
Median Sold Price
$500,181
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,310(+4.2%)
Key Takeaway
Homes in Ann Arbor have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Ann Arbor was $500,181 in October 2024, up 4.2% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $222.5K | $246K | +10.6% |
| 2 Bedrooms | $298.7K | $315K | +5.4% |
| 3 Bedrooms | $449.6K | $475K | +5.6% |
| 4 Bedrooms | $610K | $638.6K | +4.7% |
| 5+ Bedrooms | $904K | $875.5K | -3.2% |
Summary: Ann Arbor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Pittsfield Charter Township | $440K | $462.5K | +5.1% |
| Ann Arbor | $479.8K | $500.1K | +4.2% |
| Ann Arbor Charter Township | $480.1K | $500K | +4.1% |
| Scio Township | $549.6K | $533.8K | -2.9% |
Housing Supply in Ann Arbor, MI
How many homes are available in Ann Arbor, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 419 | 456 | +8.8% |
Summary: The Ann Arbor real estate market had 456 homes for sale in October 2024, a 8.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 12 | -20.0% |
| 2 Bedrooms | 85 | 99 | +16.5% |
| 3 Bedrooms | 158 | 175 | +10.8% |
| 4 Bedrooms | 107 | 113 | +5.6% |
| 5+ Bedrooms | 54 | 57 | +5.6% |
Summary: The Ann Arbor housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 91 | 110 | +20.9% |
Asking Price vs. Sold Price
53 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ann Arbor, you may be able to get a good deal. 48.2% of homes here sold below asking price last month.
Summary: A total of 110 homes were sold or pending in Ann Arbor in October 2024, up by 20.9% month-over-month. Of the 110 sold homes, 48% were sold under asking, 13% were sold at asking, and 39% were sold over asking.
Days on Market for Ann Arbor, MI
How long does it take to sell a home in Ann Arbor, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 32 Days | -31.0% |
Summary: Homes in Ann Arbor had an average of 32 days on market in Oct 2024, down by 31% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ann Arbor are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 110 homes were sold in Ann Arbor; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.