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Sales prices are rising again

 

Residential listing and sales prices are up this year in August, compared to August 2016, according to data released by the Ann Arbor Area Board of REALTORS®.

The average list price of residential listings in August 2017 was up 8.3% at $310,851, compared to $286,918 in August 2016. Average residential sales prices also rose 8.5% in August 2017 at $307,288 compared to $283,171 in August 2016. Average residential sales prices are also up 2.8% from last month, when the average sales price in July 2017 was $298,950.

Sales of single family residential properties dipped slightly from last year at 406 sales compared to 422 in August 2016. New residential listings are on-par with August 2016 listings, at 430 new listings this August versus 432 new listings last year.

Homes are continuing to sell faster, with an average of 28 days on market, compared to 36 days on average in August 2016. Year-to-date, the
average days on market for listings is 36 days, while the average year-to-date in 2016 was 45 days.


To see more Ann Arbor Area housing statistics, view the August 2017 Housing Statistics Report.

 

 

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