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 February 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
$487,365
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $222.5K | +6.0% |
2 Bedrooms | $283.2K | $297.5K | +5.0% |
3 Bedrooms | $431.7K | $462.5K | +7.1% |
4 Bedrooms | $612.5K | $617.5K | +0.8% |
5+ Bedrooms | $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 | $442.3K | $487.4K | +10.2% |
Superior Charter Township | $318.5K | $350K | +9.9% |
Ann Arbor Charter Township | $455.3K | $487.3K | +7.0% |
Scio Township | $505K | $527.1K | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
237 | 286 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 9 | +80.0% |
2 Bedrooms | 65 | 72 | +10.8% |
3 Bedrooms | 89 | 105 | +18.0% |
4 Bedrooms | 57 | 76 | +33.3% |
5+ Bedrooms | 21 | 24 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
55 | 60 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
59 Days | 42 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
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.