$3,563 Closing Credit*
$300,000
1,872 SqFt
2 Beds
•2 Full Baths
Nancy Restuccia, 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 November 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
$499,846
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,529(+4.5%)
Key Takeaway
Homes in Ann Arbor have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Ann Arbor was $499,846 in November 2024, up 4.5% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $246K | +11.8% |
| 2 Bedrooms | $298.7K | $310K | +3.8% |
| 3 Bedrooms | $449.7K | $475.5K | +5.7% |
| 4 Bedrooms | $615K | $647.8K | +5.3% |
| 5+ Bedrooms | $905K | $876K | -3.2% |
Summary: Ann Arbor housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Ann Arbor Charter Township | $478K | $499.8K | +4.6% |
| Ann Arbor | $478.3K | $499.8K | +4.5% |
| Pittsfield Charter Township | $446.1K | $459.9K | +3.1% |
| Scio Township | $540.7K | $555K | +2.6% |
Housing Supply in Ann Arbor, MI
How many homes are available in Ann Arbor, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 453 | 399 | -11.9% |
Summary: The Ann Arbor real estate market had 399 homes for sale in November 2024, a 11.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 7 | -53.3% |
| 2 Bedrooms | 101 | 93 | -7.9% |
| 3 Bedrooms | 173 | 154 | -11.0% |
| 4 Bedrooms | 111 | 105 | -5.4% |
| 5+ Bedrooms | 53 | 40 | -24.5% |
Summary: The Ann Arbor housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 53.3%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 24.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 122 | 98 | -19.7% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
33 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. 39.8% of homes here sold below asking price last month.
Summary: A total of 98 homes were sold or pending in Ann Arbor in November 2024, down by 19.7% month-over-month. Of the 98 sold homes, 40% were sold under asking, 27% were sold at asking, and 34% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 45 Days | +35.3% |
Summary: Homes in Ann Arbor had an average of 45 days on market in Nov 2024, up by 35.3% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
48 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ann Arbor has remained consistent over time.
Summary: During November 2024, 98 homes were sold in Ann Arbor; 40% of homes were sold within 30 days, 49% of homes were sold within 30 to 90 days, and 11% 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.