May statistics from the Ann Arbor Area Board of Realtors show the lack of adequate supply of new listings is driving prices upward versus the same time last year.

538 new residential listings came on the market in May, compared to 639 in May a year ago.  This led to an increase in listing and sale prices. The average list price for May 2017 was $320,853 which is a 7.2 percent increase from last year. The average sale price increased 8.5 percent to $320,360.
Getting the best advice can make a significant difference in tight market conditions. For help creating a real estate plan, contact a Reinhart Realtor today.