Will my home sell in Ann Arbor?

There are buyers in Ann Arbor, so your home can certainly sell. However, the market right now has more homes available than it did last year, and prices have seen some shifts. Your home might sell quickly if it’s priced competitively. If not, it could take a bit longer to find the right buyer. Ann Arbor has 889 active listings, which is 22.6% more than a year ago. This means there are more homes for buyers to choose from now. Even with more choices, 384 new listings came onto the market recently, suggesting people are still putting their homes up for sale. The median listing price in Ann Arbor is $465,000. This is down 5.4% from the previous month and 7.2% from a year ago. The average listing price is $619,927, also down 4.6% over the past year. These numbers suggest that prices are generally lower than they were previously. Homes in Ann Arbor are taking a median of 39 days to sell, which is just slightly faster than last year. However, about 18.4% of homes have had a price reduction, a bit more than last year. This indicates that some sellers are adjusting their prices to attract buyers. Nearly half of the active listings, 458 homes, are currently pending sale. This pending ratio of 0.52 shows that for every two homes on the market, one is already under contract. This means buyers are actively making offers and moving forward with purchases. To help your home sell, consider working with a local real estate agent to price it thoughtfully based on its condition and recent sales in your area.