Ann Arbor, MI housing market

Only 379 homes are for sale in Ann Arbor right now, and that shortage is the whole story this month. With so little to choose from, sellers still hold the upper hand. The typical home here is worth about five hundred fifty-four thousand dollars, up just under 3 percent over the past year, and homes are moving in around thirty-seven days. That is not a frenzy, but it is far from slow. The interesting part is the balance between confidence and restraint. The median asking price sits near five hundred forty-seven thousand dollars, a touch below typical value, and about 16 percent of active listings have already cut their price. Buyers here will pay for a well-priced home, but they are walking past the ambitious ones. Roughly 220 new listings hit the market, giving shoppers a bit more choice without flooding anything. If you are selling, price at the market from day one and you will likely be under contract in about five weeks. Overprice it, and you will land in the price-cut column before you find your buyer.