The current month supply of homes on the market is defined as the ratio of current inventory of active listings compared to sales. In other words, given recent sales activity, one can estimate how many months it would take for the entire inventory to sell, assuming no new listings come to the market. In the real estate market, if there is less than a 5 months supply of homes on the market, you are in a seller's market. A 5-7 month supply of homes is a balanced market. Anything over 7 months is a buyer's market.
To find out more about these statistics, or how prices are faring in your particular neighborhood, contact The Bouma Group today at 734-761-3060 or info@bouma.com. We track all Ann Arbor Real Estate by price point, complexes, and more! For more information, visit our website at www.bouma.com.
ZIP Codes: 48103, 48104, 48105, 48108 Approximate Location Boundaries: Ann Arbor School District
Location Characteristics: Ann Arbor has many distinct neighborhoods that offer a variety of home buying opportunities. The area is a cultural Mecca with many performance centers and theaters, live music, dance groups, libraries, museums, parks, & farmer's markets. It is considered the education capital of the Midwest because it is home to the University of Michigan, one of the country's top universities. The Ann Arbor area offers one of the most varied menus of restaurants in the state with Main Street as one of Michigan's best places to eat, people watch and shop. In July, Ann Arbor is host to the Ann Arbor Art Fairs, which is among the nation's top street festivals and takes up nearly all of the downtown area. Artists and shoppers travel from all over the country to attend this yearly event. Ann Arbor is a great place to live!
About Martin Bouma:
Martin Bouma is the dynamic team leader of the Ann Arbor Real Estate Team, The Bouma Group of Keller Williams Realty. Implementing a barrage of technology tools makes Martin stand out in a sea of real estate professionals. Martin and his team use these online and offline tools for one purpose alone - so Washtenaw County home buyers and sellers succeed! He provides superior work ethic and solid dedication to his clients and what separates him from the amateurs is his thorough knowledge of the market, pricing and negotiating skills, and strong team who ensures ultimate success is achieved for their buyers and sellers.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
