Are buyers active in Ann Arbor?

A little under half of the homes for sale in Ann Arbor right now are under contract, which means that for every 10 homes available, about 5 are pending. This suggests a moderate pace of buyer activity. The number of homes going under contract has slowed down over the past year. Last year, more homes were going pending compared to the number of active listings. This means buyers are taking a bit more time.Right now, the median listing price in Ann Arbor is $465,000. This price has come down both from the previous month and compared to the same time last year. This could be good news for buyers looking for a bit more value.There are 889 homes for sale, which is a good increase from last year. This gives buyers more choices. Even though there are more options, the number of new homes coming onto the market has stayed the same.Homes are staying on the market for 39 days before going under contract. This is a bit quicker than last year, which suggests that even with more choices, homes are still selling at a decent pace once buyers find the right one.Almost one in five homes, or 18.4%, have had their prices reduced. This indicates that some sellers are adjusting their expectations, which can be an advantage for buyers looking to negotiate.Buyers in Ann Arbor have more homes to choose from, and some prices are coming down. This could be a good time to explore your options and potentially find a home that fits your budget.