Home Values

Ann Arbor Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$229,100

  • 8.3% 1-year change
  • 2.5% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Neutral

Buyers' Market
Sellers' Market

The median home value in Ann Arbor Metro is $229,100. Ann Arbor Metro home values have gone up 8.3% over the past year and Zillow predicts they will rise 2.5% within the next year. The median list price per square foot in Ann Arbor Metro is $137, which is higher than the Michigan average of $91. The median price of homes currently listed in Ann Arbor Metro is $217,900 while the median price of homes that sold is $196,640.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Ann Arbor Metro is 2.6%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Ann Arbor Metro homeowners underwater on their mortgage is 13.0%, which is lower than Michigan at 21.0%.

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Relative ZHVI
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Ann Arbor Metro Market Overview

Data through Dec 31, 2014
  • $229,100 ZHVI
  • 2.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $217,900 Median listing price
  • $196,640 Median sale price
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Ann Arbor Metro Market Health

Data through Dec 31, 2014
  • 8.1/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • 101 Average days on Zillow (Nov 30, 2014)
  • 13.0% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 2.6% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Cities in Ann Arbor Metro

Name Median ZHVI
Dexter $280,300
Ann Arbor $274,400
Pittsfield Township $253,300
Name Median ZHVI
Chelsea $228,900
Saline $221,500
Manchester $207,900
Name Median ZHVI
Augusta Township $191,100
Superior Township $175,100
Ypsilanti $128,600

Listings & Sales

Data through Dec 31, 2014
  • $137 Median list price / sq ft
  • $142 Median sale price / sq ft
  • 14.4% Listings with price cut
19.0%
Sold below listing
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Ann Arbor Metro Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,702 Ann Arbor Metro
    $999 Michigan
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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