Is Ann Arbor Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ann Arbor Charter Township has remained a Seller's Market.
Housing Prices in Ann Arbor Charter Township, MI
How much do homes in Ann Arbor Charter Township, MI cost?
Median Sold Price
$490,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ann Arbor Charter Township was $490,000 in May 2024, up 7.3% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $227.5K | $238.5K | +4.8% |
2 Bedrooms | $282.3K | $305K | +8.0% |
3 Bedrooms | $439.3K | $471.3K | +7.3% |
4 Bedrooms | $615.8K | $620.2K | +0.7% |
5+ Bedrooms | $860K | $840K | -2.3% |
Summary: Ann Arbor Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 2.3%.
Median Sold Price Compared To Nearby Cities
Superior Charter Township | $323K | $363.4K | +12.5% |
Scio Township | $498K | $535K | +7.4% |
Ann Arbor Charter Township | $456.6K | $490K | +7.3% |
Ann Arbor | $456.6K | $490K | +7.3% |
Housing Supply in Ann Arbor Charter Township, MI
How many homes are available in Ann Arbor Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
438 | 492 | +12.3% |
Summary: The Ann Arbor Charter Township real estate market had 492 homes for sale in May 2024, a 12.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 11 | -35.3% |
2 Bedrooms | 85 | 96 | +12.9% |
3 Bedrooms | 167 | 179 | +7.2% |
4 Bedrooms | 122 | 140 | +14.8% |
5+ Bedrooms | 47 | 66 | +40.4% |
Summary: The Ann Arbor Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 35.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 40.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
142 | 155 | +9.2% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
99 Homes Were Sold
Over Asking
Summary: A total of 155 homes were sold or pending in Ann Arbor Charter Township in May 2024, up by 9.2% month-over-month. Of the 155 sold homes, 19% were sold under asking, 17% were sold at asking, and 64% were sold over asking.
Days on Market for Ann Arbor Charter Township, MI
How long does it take to sell a home in Ann Arbor Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 23 Days | -32.5% |
Summary: Homes in Ann Arbor Charter Township had an average of 23 days on market in May 2024, down by 32.5% compared to last year.
Breakdown of Home Sale Times
129 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 155 homes were sold in Ann Arbor Charter Township; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.