Is Ann Arbor, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ann Arbor is a seller's market

Buyer's
Market

Difference Since April 2021

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.

How much do homes in Ann Arbor, MI cost?

Median Sold Price

$388,664

$264/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$38,664(+11.0%)

Key Takeaway

Homes in Ann Arbor have sold for 11% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $149K$170.5K
+14.4%
2 $237.1K$265K
+11.7%
3 $350K$387.4K
+10.7%
4 $456.7K$540K
+18.2%
5+ $802K$775K
-3.4%

Median Sold Price Compared To Nearby Cities

Scio Township
+19.7%
Pittsfield Charter Township
+16.7%
Ann Arbor
+11.0%
Ann Arbor Charter Township
+9.7%

How many homes are available in Ann Arbor, MI?

Number of Homes For Sale

Mar 2022Apr 2022%
228304+33.3%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 1218
+50.0%
2 7185
+19.7%
3 89111
+24.7%
4 4370
+62.8%
5+ 1320
+53.8%

Number of Homes Sold

Mar 2022Apr 2022%
7494+27.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

65 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ann Arbor, you could pay more than the asking price. 69.1% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
45 Days29 Days-34.6%

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Ann Arbor are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Ann Arbor, MI

There are 304 homes are for sale in Ann Arbor, MI real estate market. In April 2022 in Ann Arbor, MI there were 33.3% more homes for sale than in March 2022. In April 2022 median list price was $388,664 and the average listing age was 29 days. From March 2022 through April 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 14.4%, prices of 2 bedrooms properties went up by 11.7%, 3 bedrooms properties prices increased by 10.7%, 4 bedrooms properties became 18.2% more expensive, prices of 5 bedrooms properties decreased by 3.4%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 50%, 2 bedrooms homes inventory increased by 19.7%, 3 bedrooms homes became 24.7% more available, the quantity of 4 bedrooms homes went up by 62.8%, volume of 5 bedrooms homes went up by 53.8%. In April 2022 more than 65 listings in Ann Arbor, MI were sold above the asking price. During the same period more than 15 listings were sold at asking price, while more than 14 were sold below.

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