Washtenaw Housing Report Year End 2023

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Demand will continue to exceed supply through the first half of 2024, but expect inventory to loosen as would-be sellers from the past two years step down off the fence. Compared to 2022, 2023 finished strong with its new listings, showings, pendings and prices. Expect that energy to carry over into the first half of 2024. Interest rates are also coming down. They’re expected to drop below 6% sometime in the second half. All of this should make for a strong and more balanced market ahead.

Washtenaw County Single-Family ’23 Summary

3,310

Listings
-16% from last year

2,757

Closed Sales
-17% from last year

$242

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

$476K

Avg. Sale Price
+5% from last year

$1.3B

Closed Volume
-13% from last year

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Demand Continues to Absorb Limited Supply

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The Washtenaw housing market continues to demonstrate remarkable resilience despite a persistent shortage of new listings. May new listings slipped 5% from April and remain 15% below last year’s pace, [...]

Limited Inventory Keeps Pressure on Buyers

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The Washtenaw County housing market continues to move through spring with buyer demand remaining stronger than overall sales activity would suggest. New listings remain well below last year’s pace, limiting [...]

Limited Supply Continues to Shape the Market

< 1 minute

The Washtenaw County housing market is moving through spring with buyer demand remaining strong, while limited inventory continues to constrain overall activity. Through the first quarter, new listings are down [...]

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Washtenaw Housing Report Year End 2023

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Washtenaw County Single-Family ’23 Summary

3,310

2,757

$242

$476K

$1.3B

Reports by Area

Get our Michigan Housing Market Reports right in your inbox

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Michael Phillips