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

$227,700

  • 10.3% 1-year change
  • 2.1% 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

Warm

Buyers' Market
Sellers' Market

The median home value in Ann Arbor Metro is $227,700. Ann Arbor Metro home values have gone up 10.3% over the past year and Zillow predicts they will rise 2.1% within the next year. The median list price per square foot in Ann Arbor Metro is $139, which is higher than the Michigan average of $95. The median price of homes currently listed in Ann Arbor Metro is $219,900 while the median price of homes that sold is $215,250.

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 3.0%, which is lower than the national value of 6.9%. 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 13.6%, which is lower than Michigan at 20.8%.

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Relative ZHVI
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Ann Arbor Metro Market Overview

Data through Oct 31, 2014
  • $227,700 ZHVI
  • 2.1% 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
    (Oct 31, 2015)
  • $219,900 Median listing price
  • $215,250 Median sale price
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Ann Arbor Metro Market Health

Data through Oct 31, 2014
  • 8.0/10 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.
  • 89 Average days on Zillow (Sep 30, 2014)
  • 13.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.0% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Cities in Ann Arbor Metro

Name Median ZHVI
Dexter $276,100
Ann Arbor $273,800
Pittsfield Township $252,100
Name Median ZHVI
Chelsea $228,700
Saline $219,100
Manchester $206,800
Name Median ZHVI
Augusta Township $189,700
Superior Township $175,300
Ypsilanti $128,200

Listings & Sales

Data through Oct 31, 2014
  • $139 Median list price / sq ft
  • $147 Median sale price / sq ft
  • 38.6% Listings with price cut
15.8%
Sold below listing
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Ann Arbor Metro Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,714 Ann Arbor Metro
    $974 Michigan
    $1,337 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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