Is now a good time to sell in Ann Arbor?

It's a mixed bag right now, but there are some signs that sellers might have an advantage. While prices have dipped a bit, homes are selling faster than they were a year ago. However, there are more homes on the market too, which means more choices for buyers. The typical home is listed for $487,500. This is a bit lower than last month, down 1.5%, and quite a bit lower than last year, down 8.6%. Still, the price per square foot has actually gone up slightly by 0.5% over the past year, reaching $248. Houses are selling faster these days. The typical home spends 36 days on the market, which is 5.3% less time than at this point last year. This quicker sale time can be good for sellers. There are more homes available for sale. The number of active listings is up by 10.6% compared to last year, with 733 homes currently on the market. This increased number of options for buyers means your home will have more competition. Right now, about 13.9% of homes have had a price reduction, which is about the same as last year. This suggests that while some sellers are adjusting prices, it’s not happening much more often than before. Overall, if you're selling, be aware that while homes are moving more quickly, you might not get as high a price as you would have a year ago, and you'll have more competition from other sellers.