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 August 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

$399,341

$273/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$39,396(+10.9%)

Key Takeaway

Homes in Ann Arbor have sold for 10.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $178K$180K
+1.1%
2 $240.7K$275K
+14.3%
3 $367.2K$400.6K
+9.1%
4 $530K$557.5K
+5.2%
5+ $817.5K$820K
0.3%

Median Sold Price Compared To Nearby Cities

Scio Township
+25.7%
Pittsfield Charter Township
+11.2%
Ann Arbor
+10.9%
Ann Arbor Charter Township
+4.0%

How many homes are available in Ann Arbor, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
318336+5.7%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 1612
-25.0%
2 7581
+8.0%
3 122130
+6.6%
4 7481
+9.5%
5+ 3132
+3.2%

Number of Homes Sold

Jul 2022Aug 2022%
9294+2.2%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

40 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. 42.6% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
38 Days40 Days+5.3%

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

46 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Ann Arbor has remained consistent over time.

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

About Ann Arbor, MI

Ann Arbor, MI has 336 homes on the market. The number of listings in Ann Arbor, MI increased by 5.7% between July 2022 and August 2022. In August 2022 median list price was $399,341 and the average listing age was 40 days. Listing prices have changed in this real estate market between July 2022 and August 2022: 1 bedroom properties prices increased by 1.1%, 2 bedrooms properties prices increased by 14.3%, the cost of 3 bedrooms properties went up by 9.1%, the cost of 4 bedrooms properties went up by 5.2%, prices of 5 bedrooms properties increased by 0.3%. This housing market inventory have changed: the quantity of 1 bedroom homes went down by 25%, volume of 2 bedrooms homes went up by 8%, 3 bedrooms homes inventory increased by 6.6%, 4 bedrooms homes inventory increased by 9.5%, volume of 5 bedrooms homes went up by 3.2%. While more than 40 listings in Ann Arbor, MI in August 2022 were sold above asking price, there were more than 20 listings sold at asking price, and more than 34 were sold below.

Related Housing Market Reports