Every month a member of Studio Four8 dives into the Ypsilanti 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.
Hey we are going to bring you the latest market numbers for the city of Ypsilanti, Ypsilanti school district, for last January as opposed to January 2022. I’m Sara Maddock with Studio Four8 with Berkshire Hathaway Home Services, Snyder and Company and we wanted to just rattle off some numbers for you so you can stay abreast of market changes.
The average sale price and the median sale price in the city of Ypsilanti actually went up last month versus the January 2022. Average price being $235,113 that’s it almost 18% jump. The median sale price in turn $212,500, actually that stayed about the same at 1.2% up over last year. Now we’re talking about only 32 houses sold in this past January, which is 13% down from last year. So it’s a small sample but still showing good movement in the market, the upward pricing.
The average days on Market were 23, which is again pretty similar to last year just up about 2 percentage points there. So if you list your home in the city of Ypsilanti you can expect to get offers within the first two or three weeks there, which is still pretty good.
Now the number of homes that sold over list price last month was 16, which is down a little bit from last year. About half of the homes that were listed this past month were in multiple bid situations and were able to get a higher than list price. Which is still a good indicator.
So regarding the city of Ypsilanti if you’re looking to purchase there you may have to be aggressive with your price depending on what the home is, what the situation is, and you can expect there to be around 30 houses for sale. Now if you are interested in being one of those homes for sale and you have a house that you’d like to list the Studio would love to come out and talk to you about your plans for this year and where you might fit into this micro market picture.
Again this is Sara Maddock with Studio Four8 and we look forward to hearing from you!