Blog > Housing Report > Washtenaw County > Washtenaw May 2021

Washtenaw May 2021

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Single Family Summary

309

March 1st Inventory
-55% from last year

1,017

YTD Closed Sales
+23% from last year

$397k

YTD Avg Sale Price
+15% from last year

$202/sf

YTD Price Per Sq. Ft.
+15% from last year

$403m

YTD Sales Volume
+42% from last year

Inventory— After 10 straight months of decline, active single family home listings have been rising the past two months. They are still down 55% from last year.

Closed Units— YTD closed units continue to outpace recent years with sales up 23% from last year and 17% from 2019.

Values— Strong growth across all price ranges has lifted average sales price 15% in the past year. Much of the growth was among higher end homes, specifically those priced above $400k.

Summary— 2021 continues to be a strong year for single family housing in Washtenaw County with volume up 42%. Homes continue to sell at a fast pace with the average home selling in under 32 days.

Condo Summary

135

Available Listings
-46% from last year

343

YTD Closed Sales
+40% from last year

$290k

YTD Avg Sale Price
+9% from last year

$209/sf

YTD Price Per Sq. Ft.
+4% from last year

$99m

YTD Sales Volume
+53% from last year

Inventory— While not as sparse compared to single family housing, condo and loft inventory dropped 8% in the past month and is down 46% from last year.

Closed Units— Total sales for condos continue to show strength coming out of the lockdown with sales up 40% from last year and 28% compared to 2019.

Values— Average sales price was able to grow 9% over the last year while the price per square foot for luxury condos actually fell 10%.

Summary— Values continue to rise in all but the upper price ranges. Over time, expect to see fewer affordable condos. Volume is up 53% from last year and will continue to grow stronger as the condo markets move beyond COVID.

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