09/23/2026
š” What Can $400,000 or Less Buy in Ann Arbor Right Now?
I reviewed the 36 active single-family homes in the attached Ann Arbor-area MLS report, all priced at $400,000 or less.
Here is what the current inventory tells us:
⢠Median asking price: $364,950
⢠Median above-grade living space: 1,080 square feet
⢠Median market time: 46.5 days
⢠22 of the 36 homes are priced between $350,000 and $400,000
⢠26 have only one full bathroom
⢠24 have been on the market at least 30 days
⢠12 have been listed for at least 60 days
⢠4 have exceeded 90 days
⢠Only 4 entered the market during the past seven days
One important geographic distinction: 30 are located within the City of Ann Arbor municipality, while six have Ann Arbor mailing addresses but are located in Pittsfield, Scio or Superior Township.
The central story is not that affordable Ann Arbor homes are unavailable. It is that buyers generally must choose their preferred compromise.
That may mean accepting:
⢠A smaller home
⢠One full bathroom
⢠An older property
⢠Renovation or updating
⢠A township location
⢠Less garage or basement space
⢠A home that has been overlooked by other buyers
For buyers, the growing number of longer-market-time listings may create negotiating opportunities. One-third of this inventory has been available for at least 60 days, and some sellers may now be more receptive to reasonable offers, inspection requests or other concessions.
But a long market time does not automatically make a home a bargain. Condition, taxes, location, layout and the reason other buyers passed still matter.
My takeaway: There are real choices under $400,000ābut the best opportunity may not be the cheapest house. It may be the property where the buyer understands the tradeoffs and negotiates accordingly.
If you would like a copy of the complete list or help comparing these homes, send me a DM with the words āUNDER $400K.ā
Brian Bundesen, REALTORĀ®
The Bundesen Team at Real Estate One
(734) 678-9032
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