Are buyers active in Ann Arbor?

It looks like buyers are quite active in Ann Arbor right now. Homes are selling relatively quickly, and many buyers are ready to make offers. This suggests a healthy demand in the housing market. The median listing price in Ann Arbor is $487,500. This price actually dipped a bit recently, down 1.5% from the previous month and down 8.6% compared to last year. Even with prices falling, buyers continue to purchase homes. There are 733 homes currently for sale, which is 10.6% more than last year. New listings have also increased by 3.0% over the past year, with 486 new homes added. This means buyers have more choices than they did a year ago. Homes are spending a median of 36 days on the market, which is a bit faster than last year. This quick turnover suggests that buyers are eager and making decisions fairly quickly. Also, the share of homes with price reductions is 13.9%, which is slightly lower than last year. There are 568 homes with pending sales. For every actively listed home, about 0.78 homes are already under contract. This indicates that a good number of buyers are successfully negotiating deals and moving forward with purchases.