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July Sales Remain Strong

Single-family residential real estate sales remained strong in July, according to the Ann Arbor Area Board of REALTORS®.

July 2016 was nearly identical to July 2015 in sales of single-family homes, with 425 sales in 2016, versus 424 sales in July 2015. Year-to-date, sales numbers are up 6.4 percent, with 2,244 homes sold through July, compared to 2,109 homes sold through July last year.
 

Listings remain scarce-547 new single-family residential homes reached the market in July, a decrease of 5.4 percent compared to 578 new listings coming on the market in July 2015. Days on market remained steady, showing 36 days between listing and offer in July 2016, compared to 37 days on market a year ago. 
 

The median sale price (half of sales were lower, half were higher) is up 5.6 percent, at $265,000, compared to $250,950 in July 2015. The average sale price for July 2016 was $312,122, an increase of 4.5 percent, compared to $298,572 a year ago. The average list price showed an increase of 4 percent at $316,233, compared to the July 2015 average list price of $304,284.

To see more Ann Arbor Area housing statistics, view the July 2016 Statistics Report.

 

 

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