Limited Supply Continues to Shape the Market

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 significantly compared to last year, contributing to declines in both pending and closed sales. While the drop in sales has been modest, the larger decline in new listings highlights that supply—not demand—is the primary constraint in today’s market.

March delivered the expected seasonal increase in listings, with new listings rising sharply from February. However, pending sales declined slightly from the prior month and remain well below last year’s levels, reflecting the ongoing challenge of limited available inventory.

Despite fewer sales, pricing has remained stable. The average sale price is up slightly from last year, and a majority of homes continue to sell at or above asking price. This indicates that buyers are still willing to compete for well-prepared, move-in-ready homes, even as overall transaction volume remains constrained.

Looking ahead, an increase in new listings will be key to driving additional activity. Buyers should expect continued competition for desirable homes, particularly in established neighborhoods and move-in-ready price ranges. Sellers should stay focused on preparation and pricing, as strong demand continues to reward listings that are positioned correctly from the start.