Ann Arbor’s housing market continues to evolve, presenting both challenges and opportunities for residents and prospective buyers. Understanding the current landscape is essential for making informed decisions.
Current Market Trends
As of March 2026, the median sale price for homes in Ann Arbor was $489,000, reflecting a slight decrease of 0.26% compared to the previous year. Homes are typically on the market for about 36 days, indicating a steady demand. The median sale price per square foot has risen by 12.7% year-over-year, reaching $305.
According to Zillow, the average home value in Ann Arbor stands at $523,391, marking a 3.2% increase over the past year. Homes generally go pending in approximately 14 days, suggesting a competitive market.
Rental Market Insights
The rental market in Ann Arbor remains robust. The average rent is $2,399 per month, slightly above the national average of $1,910. This represents a 0.9% increase year-over-year, indicating steady demand for rental properties.
Development and Inventory
Inventory levels have seen notable changes. In February 2026, there were 347 homes available, with 121 new homes entering the market that month—a 65.75% increase year-over-year. This suggests a growing supply to meet the demand.
Local developments continue to shape the housing landscape. For instance, the Campbell Street Apartments, an affordable housing complex, recently opened on Michigan Avenue, offering 40 units for low-income households.
Conclusion
Ann Arbor’s housing market is characterized by steady home values, a competitive rental market, and ongoing development projects aimed at increasing housing availability. Staying informed about these trends is crucial for anyone looking to navigate the local real estate landscape effectively.