Ann Arbor Michigan, is still experiencing a buyers market. There are some great opportunities for first time home buyers. Several years back, it was impossible to purchase a home in Ann Arbor for under 200,000. If one came on the market..........it had multiple offers. Now if you are a buyer you have 30 or more to choose from.
This market data, is taken from the Ann Arbor Board of Realtors MLS data and is put together according to the 9 areas in Ann Arbor. If you picture a wheel with spokes in the wheel you will see how it all comes together in downtown Ann Arbor. Throughout Ann Arbor there is a 10.8 month supply of inventory. In the million dollar and above price range, there is showing it's most inventory with 66 months of inventory or 5.5 years. The good news is that the homes between 500-599K is the strongest with 5.9 months of inventory.
This is all the data from the 2nd quarter, with sales, inventory and months of absorption rate. The absorption rate is based on how long it will take a home to sale that is currently listed. ( if no other homes come on the market )
Graphs are created by Big House Data, LLC in Ann Arbor, MI.
You can search all homes available at Search Ann Arbor Houses.
Missy, great stats for Ann Arbor. Looks like there is a wide variety of homes available.