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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ann Arbor Charter Township is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Ann Arbor Charter Township has remained a Seller's Market.

Key Takeaway

Ann Arbor Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Ann Arbor Charter Township, MI

How much do homes in Ann Arbor Charter Township, MI cost?

Median Sold Price

$487,365

$269/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$32,042(+7.0%)

Key Takeaway

Homes in Ann Arbor Charter Township have sold for 7% more than they did a year ago.

Summary: The median home sold price in Ann Arbor Charter Township was $487,365 in February 2024, up 7% from last year, and the median price per square foot was $269.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $210K$222.5K
+6.0%
2 $283.2K$297.5K
+5.0%
3 $431.7K$462.5K
+7.1%
4 $612.5K$617.5K
+0.8%
5+ $835K$904K
+8.3%

Summary: Ann Arbor Charter Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Cities

Ann Arbor
+10.2%
Superior Charter Township
+9.9%
Ann Arbor Charter Township
+7.0%
Scio Township
+4.4%

Housing Supply in Ann Arbor Charter Township, MI

How many homes are available in Ann Arbor Charter Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
237286+20.7%

Summary: The Ann Arbor Charter Township real estate market had 286 homes for sale in February 2024, a 20.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 59
+80.0%
2 6572
+10.8%
3 89105
+18.0%
4 5776
+33.3%
5+ 2124
+14.3%

Summary: The Ann Arbor Charter Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5560+9.1%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ann Arbor Charter Township, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.

Summary: A total of 60 homes were sold or pending in Ann Arbor Charter Township in February 2024, up by 9.1% month-over-month. Of the 60 sold homes, 38% were sold under asking, 18% were sold at asking, and 43% 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

Feb 2023Feb 2024CHANGE
59 Days42 Days-28.9%

Summary: Homes in Ann Arbor Charter Township had an average of 42 days on market in Feb 2024, down by 28.9% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 60 homes were sold in Ann Arbor Charter Township; 50% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

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

Report Updated 27 Days Ago

Newest Listings in Ann Arbor Charter Township, MI

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