Ann Arbor Michigan Real Estate Market Update | January 2023

Every month a member of Studio Four8 dives into the Ann Arbor Real Estate Market 2023 numbers and breaks down what that means for your local housing market. Stay in the know by subscribing to Studio Four8’s Youtube page.

Hi thanks for tuning in, I’m here to share with you the latest real estate numbers for the month of January 2023 in Ann Arbor Public Schools. I’m Sara Maddock with the Berkshire Hathaway Home Services Snyder & Company realtors, Studio Four8 and we wanted to share with you the latest sales activity in the Ann Arbor real estate market. The sales prices, average sales price, median sales price, and also comparing that to what happened last year at this time, so that you can get a sense of what’s going on.

So when we say Ann Arbor School District I’m talking about the whole school district whether the address says “Ann Arbor” or if it’s in Pittsfield Township perhaps, either way if you’re if your school district is Ann Arbor this includes your market. Now the average sale price of a home in the Ann Arbor District is now at $397,334, just under that $400,000 mark which is actually down 1% or so from last year. It hasn’t changed much, that average. But the median sale price went up over 6%, 6.61% in fact, to $355,000 on the dot. What does that mean exactly? Average price is basically the same but the median home price went up that means we are still seeing that shift in sale price in the Ann Arbor District, basically up, from January of 2022 to January 2023.

Another interesting point, we sold 61 homes in Ann Arbor last month that’s down 35% from last year, so even fewer homes to choose from in Ann Arbor. Which could explain the lower average days on Market which was 36 Days, down about 14% from last year.

This is interesting too, the number of homes that had sale prices that were higher than their list price, so we’re assuming a multiple bid situation, is actually only about 40 (40.98) so 41% of the homes that were listed in January. So more homes than not sold for at, or even possibly below, their list price. So that’s showing some leveling out but we’ll see what happens in the coming months.

We’d love for you to stay tuned for that, we bring you these numbers every month, so again you can get a sense of what the shifts in the marketplace are. This has been your Ann Arbor market update with Sara Maddock and Berkshire Hathaway Home Services Snyder and Company, Studio Four8. Stay tuned for more!

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