REALTORS® were busy in May, according to data released by the Ann Arbor Area Board of REALTORS®.
304 single family properties were sold in May, a 17 percent increase over the 260 properties sold in May 2013. Condo sales were up 48 percent for May at 96 units sold, compared to 65 last May. Sales for all property types are up 3 percent for the year, with 1,515 total units sold, compared to 1,471 units sold at this time last year.
Prices continue to go up, thanks to continued low inventory and high demand. The average list price was up 11 percent in May at $276,117, compared to $248,718 in May 2013. The May average sale price of $271,285 is a 10 percent increase over $246,305 in May of last year. Year-to-date, both list and sale prices are up 7 percent compared to this time last year.