The Armory Condo Report – March 2014
The Armory Condos, located in the heart of downtown Ann Arbor, is a small collection of loft style units in a historic building. There are currently 0 units listed for sale and in 2013, 3 units sold.
- $402,000. 223 E. Ann St. #3, Ann Arbor. 1088 sq. ft. +544 in finished lower level, 2 bedrooms, 3.1 baths. Listed by The Bouma Group – Sold Over List Price
- $370,000. 223 E. Ann St. #4, Ann Arbor. 1088 sq. ft. +544 in finished lower level, 2 bedrooms, 3.1 baths.
- $345,000. 223 E. Ann Arbor St. #6, Ann Arbor. 1632 square feet with 2 bedrooms and 3.1 baths.
The Armory experienced more activity last year than in previous years when just 1, or even no condos sold. In 2011, 1 condo sold with an ASP of $355,000 and A$SF of $217.63. The 3 units that sold last year had an average sale price of $372,333, up 5%, and average price per square foot of $307, up 41%. As prices continue to rise for Downtown Ann Arbor Condos, The Bouma Group will keep you informed of the latest statistics for all complexes. For more info on your particular complex, contact us at 734-761-3060 or email email@example.com today!
Changes are afoot on the national housing market that suggest that this year is going to increasingly favor the home seller. And that means buyers will likely be paying more for real estate in 2014.
According to a recent news article, the National Association of REALTORS® recently reported that nearly 5.1 million homes sold last year, which is the highest rate it’s been since 2006.
Meanwhile, values are rising as home sellers grow increasingly tired of selling their home for “cheap.”
Although this is resulting in longer Days on the Market averages, it also means that home prices are rising.
A Look Back at 2013 Activity
Here’s an overview of national real estate activity, according to December data:
- From January to December 2013, there were 4.87 million homes that were sold on a seasonally-adjusted annualized basis.
- That figure is one percent higher from the month before.
- For 2013 overall, there were 5.09 million home sales, which is a nine percent increase from the year before.
- What’s more, that figure is the highest reading it’s been since 2006.
- Meanwhile, home builders reported increased buyer foot traffic. In fact, they said the activity had reached a 7-year high.
- And by December 2013, the home supply was down to 4.6 months. This means that if activity stayed the same, all available homes for sale would be sold in that time frame.
- The latest report also revealed that homes are not selling as quickly as the year before.
- While 28 percent of homes sold in 30 days or less, the Median Days on the Market actually increased substantially, from 16 to 72 days.
- In fact, Days on the Market has been steadily increasing for the last seven months.
- Here’s another thing to note: home prices have increased more than 20 percent in some regional housing markets over the last year, in part because of bidding wars.
- In December, foreclosed homes had a median Days on Market of 67 days.
A Look Ahead to 2014
Experts predict that cold weather in December and January may have created even more pent-up home buyer demand, which could bode well for housing market activity in the coming months as temperatures warm up.
Experts are also saying that while home sales have slowed over the last several months, competition is greater than ever.
This is aided by the fact that home sellers are feeling more confident than ever. They’re no longer worried about whether their home will ever sell, they’re worried about getting the best price possible for their home. Thus, many have raised their list prices to values that they think are reasonable instead of pricing them undervalue in an effort to attract buyers.
While this might slow the momentum a little (and thus lead to longer Days on the Market), the long-term effect will be that prices will rise as buyers realize this is not a passing trend.
Your #1 Source for National Real Estate News
Please check out our website again soon to receive national real estate market updates and see how recent activity may affect your efforts as a buyer or seller. And if you’d like to know more about the local Ann Arbor and Washtenaw County markets, give us a call at 734-761-3060 or email firstname.lastname@example.org, we love to talk real estate statistics!
Lake Forest Highlands Real Estate Update – March 2014
Lake Forest Highlands has already seen quite a bit of real estate activity since the beginning of the year. 2 homes have already sold in 2014, with 3 homes selling last year. There is currently 1 home listed for sale.
Home for Sale:
- $379,900. 2508 Big Sky Ct, Ann Arbor. 2176 sq. ft. +1100 in finished lower level, 4 bedrooms, 3.1 baths. Listed by The Bouma Group
- $390,000. 3853 E. Highlander Way, Ann Arbor. 2554 sq. ft. +1200 in finished lower level, 4 bedrooms, 3.1 baths.
- $390,000. 2390 Sun Valley, Ann Arbor. 2559 sq. ft. +1363 in finished lower level, 4 bedrooms, 3.1 baths.
- $346,500. 2162 Vail Court, Ann Arbor. 1884 sq. ft. +700 in finished lower level, 4 bedrooms, 3.1 baths.
- $309,000. 3984 E. Highlander Way, Ann Arbor. 2307 sq. ft. +1150 in finished lower level, 4 bedrooms, 3.1 baths.
- $295,000. 3900 E. Highlander Way, Ann Arbor. 1964 square feet with 3 bedrooms and 2.1 baths. Sold by The Bouma Group
In 2012, 6 homes sold with an average sale price of $315,167 and average price per square foot of $133. The 3 homes that sold in 2013 had an ASP of $348,500, up 11% over 2012, and an A$SF of $157, up 18%. So far this year, 2 homes have sold. Here at The Bouma Group, we specialize in Ann Arbor Real Estate and will continue to keep you posted on the trends at Lake Forest Highlands, so be sure to check back for more updates!
556 Mills, Saline MI
New listing at 556 Mills! Walk to Millpond Park and Downtown Saline from this charming brick ranch. This home offers:
- 1050 square feet with 3 bedrooms and 1.1 baths
- Remodeled kitchen with sharp white cabinets and stainless appliances
- Newly refinished hardwood floors
- Fenced back yard
- More photos & features
- MLS# 3219701
- Listed for $179,900
To request a private showing or more information for 556 Mills, contact the Saline Real Estate specialists with The Bouma Group today at 734-761-3060 or email email@example.com. View more of our Featured Listings here!
Lakewood Subdivision Real Estate Report – March 2014
Lakewood is a diverse, established Ann Arbor neighborhood located on the west side of town. There are currently 5 homes listed for sale and in 2013, 6 homes sold.
Homes for Sale:
- $195,000. 336 Mason, Ann Arbor. 1036 square feet with 3 bedrooms and 1 bath. Sale Pending
- $195,000. 3210 Lakewood, Ann Arbor. 1019 square feet with 3 bedrooms and 1 bath. Sale Pending
- $189,900. 309 Mason, Ann Arbor. 912 sq. ft. +700 in the finished lower level, 3 bedrooms and 2 baths.
- $184,000. 2920 Lakeview, Ann Arbor. 1007 square feet with 3 bedrooms and 1 bath. Sale Pending
- $179,900. 2911 Hilltop, Ann Arbor. 988 square feet with 2 bedrooms and 2 baths.
- $282,500. 2970 Lakeview, Ann Arbor. 1960 square feet with 4 bedrooms and 2.1 baths.
- $245,000. 3244 Lakeview, Ann Arbor. 1225 sq. ft. +600 in finished walk-out, 3 bedrooms and 2.1 baths.
- $227,500. 3082 Lakeview, Ann Arbor. 1175 sq. ft. +587 in finished walk-out, 3 bedrooms and 2 baths.
- $219,000. 3090 Sunnywood, Ann Arbor. 1025 sq. ft. +875 in finished walk-out, 3 bedrooms and 2 baths.
- $195,700. 2983 Hilltop, Ann Arbor. 1604 square feet with 3 bedrooms and 2.1 baths.
- $184,000. 238 Highlake, Ann Arbor. 960 square feet with 3 bedrooms and 1 bath.
Home values at Lakewood have risen since 2012 when the average sale price was $165,717 and the average price per square foot was $114. In 2013 the ASP rose 29% to $214,243 and the A$SF rose 54% to $175 – see the yearly real estate graphs here. To learn more about the Lakewood neighborhood, contact us at The Bouma Group at 734-761-3060 or email firstname.lastname@example.org. We’ve sold more Ann Arbor Homes than any other Realtor for the past 12 years and know the area better than anyone!
The economic recovery is not just confined to one region of the United States, according to a recent news article.
Evidently, a recent report from the U.S. Conference of Mayors noted that almost every city in the country is expected to see economic growth in the New Year!
This is great news for everyone because it shows that our economy continues to strengthen after the recent recession.
Why You Can Expect Great Things in 2014
According to the recent report from the U.S. Conference of Mayors, most cities in the US are expected to see economic growth and job gains in 2014.
Here are the cities that are expected to lead the pack:
- Naples, Florida
- Raleigh, North Carolina
- Atlanta, Georgia
- Austin, Texas
What’s more, those cities who were severely affected by drops in manufacturing or by the housing market crash are also expected to see gains in the new year:
- Youngstown, Ohio is expected to see economic growth of 1.6 percent
- Buffalo, New York is expected to see economic gains of 1.5 percent
- Shreveport, Louisiana is expected to grow by 1.6 percent, after the community saw a 5.2 percent decrease last year.
Experts say that part of the key to economic growth has been the stabilization of housing. Job growth has also helped to encourage spending.
They noted that college towns (such as Lawrence, Kansas or Austin, Texas) are expected to make strong gains while the larger cities (like New York and Chicago) are expected to see more modest growth.
Here are some more highlights of the recent report:
- 340 of 363 metro areas will see economic growth by at least 1 percent.
- Last year, only 183 metro areas saw such growth.
- In addition, experts predict that 69 of those 363 metro areas will see growth exceeding 3 percent.
- And only seven of the 363 metro areas will probably not see economic growth, according to the report.
- While that’s unfortunate, it’s still exceptionally better than last year when 97 metro areas didn’t see growth.
A New Year, A New Economy
With a New Year comes new opportunity. We’re thrilled to know that the local economy in almost all major US cities is expected to grow in the coming year.
Check back here soon to learn about more about national trends that may affect your efforts as a home buyer or seller. And as always, to find out about market trends for the Washtenaw County and Ann Arbor Real Estate market, or even specific neighborhoods, contact the specialists with The Bouma Group at 734-761-3060 or email us at email@example.com.
Arlington Place Condo Report – March 2014
Arlington Place Condos are popular for the central Ann Arbor location and moderate price. There is currently 1 unit listed for sale, and last year 4 units sold.
Condo for Sale:
- $120,000. 2213 S. Huron Parkway #4, Ann Arbor. 1053 square feet with 2 bedrooms and 2 baths.
- $108,000. 2201 S. Huron Parkway #3, Ann Arbor. 1053 square feet with 2 bedrooms and 2 baths.
- $109,000. 2203 S. Huron Parkway #1, Ann Arbor. 1084 square feet with 2 bedrooms and 2 baths.
- $110,000. 2215 S. Huron Parkway #2, Ann Arbor. 1053 square feet with 2 bedrooms and 2 baths.
- $110,000. 2233 S. Huron Parkway #2, Ann Arbor. 1053 square feet with 2 bedrooms and 2 baths.
Condo prices have really started to rebound at Arlington Place. For 2013, the average sale price was $109,250 and the average price per square foot was $103. Compared with 2012, the ASP was up 21% and the A$SF was up 20%. While prices aren’t quite back to where they were in past years, they are well on their way. To learn more about values and units for sale at Arlington Place give The Bouma Group, Ann Arbor Condo specialists a call at 734-761-3060 or email firstname.lastname@example.org today!
Scio Hills Real Estate Report – March 2014
Scio Hills is an quiet country subdivision with homes situated on 1-2 acre lots located within minutes of downtown Ann Arbor. There are currently 0 homes listed for sale and in the past year, 3 homes sold.
- $366,675. 1592 Coventry Square, Ann Arbor. 2257 square feet with 3 bedrooms and 2.1 baths. Listed by The Bouma Group
- $390,000. 3824 Bradford Square, Ann Arbor. 2254 square feet with 3 bedrooms and 2.1 baths.
- $466,000. 3756 Bradford Square, Ann Arbor. 2457 square feet +884 in finished lower level, 4 bedrooms and 2.1 baths.
In 2012, 2 homes sold with an average sale price of $470,000 and average price per square foot of $178.00. Compared with the 2 sales in 2011, the ASP was up 33% and the A$SF was up 40%. This huge increase was partly due to a larger home selling for $550,000, which is at the high end for this neighborhood. For more information on home values at Scio Hills or the surrounding area call us at 734-761-3060 or email the Ann Arbor Real Estate specialists with The Bouma Group, at email@example.com.
Dexter Real Estate Market Basically Unchanged
The Dexter Real Estate market hasn’t changed much since our report last month. There are 3 less homes listed and there were 3 less sales. The current month supply remains unchanged at 4.5, a seller’s market. January was a slower month, mainly due to the frigid temperatures, snow days, and lack of new listings coming to the market. However, the number of sold homes, for the entire Dexter area, is up over last January with 38 more homes selling, but with almost the exact same number of homes listed. With more folks purchasing homes, the need for more inventory is apparent.
Now is a great time to sell your home! There is an active pool of buyers in Dexter and Washtenaw County just waiting for the right home to come to the market. Wondering what your home may be worth? Contact us at The Bouma Group at 734-761-3060 or firstname.lastname@example.org for a market analysis of your home. We continue to be the Ann Arbor area’s leading home seller and can get top dollar for you!
Saline Only Has 117 Real Estate Listings!
The Saline Real Estate market finished January with only 117 listings, the lowest it has seen in years. Last January there were 154 homes for sale, and at the peak of 2012 there were 278 homes listed. Sales remain steady as homes are selling quickly. Homes that are in great condition and priced right are seeing multiple offers as soon as they hit the market, even in the slowest time for real estate sales. Overall, Saline is in a seller’s market with a 3.9 months supply of homes available, with the $100k – $300k having a very low supply.
As we continue to report, Saline needs listings! If you have been thinking of selling your home, but aren’t sure what it’s worth in today’s market, contact us for a free home valuation. It is probably worth more than you think! Don’t wait for the spring market, let your home stand out to buyers now. Here at The Bouma Group, we have many buyers that have seen everything on the market, which isn’t much, and are waiting for the perfect home – it might be yours!