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While April saw an increase in condominium sales, May saw an increase in sales of family homes in Ann Arbor, Mich.
Sales for single-family homes increased by 6% in May, according to a May 2019 report from the Ann Arbor Area Board of Realtors.
Single-family homes also saw a rise in listings, with a 3.5% increase, and the average listing price improved by 7.4%, the report read.
In April, condominiums sales and listings were both up. However, in May, condominium listings decreased 8.7% and sales dropped 1%.
The average listing price did improve, the report stated, with a 15.9% increase, and a 14% sales price increase, compared to May 2018.
Here are the residential real estate trends for the month of May in Washtenaw County.
Compared to May 2018, in May 2019, the number of new single-family listings increased from 626 to 648 — a 3.5% increase. The price also increased 7.4%, going from $326,126 to $350,178.
While the average condominium list price increased from May 2018 to May 2019, the number of new listings decreased 8.7%.
Year-to-date single-family home listings already surpassed 2018 numbers
The 2018 year-to-date new listings of single-family homes was 2,019. As of May 2019, the year-to-date number has increased, with 2,172 new listings so far.
In May 2018, the median sales price for a single-family home was $286,600. A more than $14,000 increase took place in May 2019, with the median sales price at $301,000.
While the number of new condominium listings in May 2019 in Ann Arbor has decreased compared to May 2019, the year-to-date number of sales have increased.
In May 2018, the year-to-date number of properties sold were at 189. This year, they were at 224.
Tribune Content Agency