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Strong Start in Housing Sales for 2016

The market shows no signs of slowing in 2016, based on January sales recorded by the Ann Arbor Area Board of REALTORS®.

191 Single Family properties were sold in January, an increase of 20.8 percent over the 158 residential properties sold in January 2015. 

The average sale price for January was up 10 percent over last year, at $256,818, compared to $233,444 a year ago. Likewise, the average list price was up 9.4 percent, at $264,330, compared to $241,602 in January 2015.

The main challenge for buyers in 2016 continues to be insufficient supply. The number of new residential listings is down 18 percent, with 256 new residential listings coming on the market in January, compared to 312 in January 2015. Serious buyers should be prepared to act fast.   

 

To see more Ann Arbor Area housing statistics, view the January 2016 Statistics Report. For additional data, view the Market Data Report from Realtors Property Resource.

JANUARY 2016 STATS Page 2

 

 

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