Category Archives: Ann Arbor Condo Market Updates

Ann Arbor Condominium Report – June 2018

Ann Arbor Condos See a Decline in Sold Units but Prices Rise
Ann Arbor Condo Report for June

Both listing and selling prices are increasing for Ann Arbor condos. This year, only one more condo was listed in June, 87 units, compared to last year. Prices have seen a significant change of 29.4%, from the average listing price in 2017 being $272,948 to $353,306 currently. Interestingly, there has been a 40.4% decline in the amount of sales compared to last June, 89 to 59 sold condos. Sale prices have risen with the listing prices, $249,734 to $283,620 this June, which is a difference of 13.6%. Unfortunately for sellers, the average days on the market has doubled since the previous June equaling 30 days. There has been a 4.9% decrease in the amount of listings entered so far this year compared to last year, 408 versus 429 condos listed. Listings prices currently average at $342,275 to date, which is 16.1% higher than the year prior at this time when the average LP was $294,715. The average selling price has increased too, but not as much as the LP; from $251,260 in the prior year to $280,807 so far this year, which is an 11.8% raise. There is 25% less inventory being sold year to date, from 323 last year to 242 so far. Overall, it is a seller’s market for Ann Arbor condos; with the same month supply as May. Affordable condos priced under $400k are beginning to slowly move more towards a seller’s market. Whereas condos ranging from $400k to $1m are headed towards a buyer’s market. There is not so much of an extreme buyer’s market for luxury condos over $1m compared to last month.

New inventory isn’t altered much compared to last year. However, there has been a decent decline in the amount of sold condos and prices have seen a considerable increase. Whether you are looking to buy or sell, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Check back here for more updated information on the market in Ann Arbor and surrounding areas!

 

Ann Arbor Condo Report – May 2018

Prices Increase for Ann Arbor Condominiums

Ann Arbor Condo Report - MayIn all aspects, prices have increased for Ann Arbor condos in May; this is most likely because inventory has declined. This May, 87 new listings were entered which is 2.2% decrease compared to the 89 units last May.  The average listing price rose a sizable 22.6%, from $265,209 to $325,026. With less condos listed, units are generally on the market for 20 days; which is 10 days less compared to May 2017. There is a decline of 16.5% less condos sold this May compared to the previous, 66 sold condos versus 79. The average selling price for Ann Arbor condos is $261,307, which is a decent increase of 11% from $235,619. So far this year, there has been 21 less listings entered in comparison to the previous year when 343 listings were entered. Average listing prices thus far have increased 13% though, from $300,708 to $340,005. Similarly, selling prices have also rose from $251,891 to $280,017, which is a difference of 11.2%. There was a 18.9% decline in the amount of sales so far this year compared to last, 189 sold condos versus 233. In general, it is a seller’s market for Ann Arbor condos, especially for inexpensive units that are below $300k. Condos that are sold above $400k are considered a buyer’s market though.

With less inventory, sales are rising and because of this Ann Arbor condos are moving towards a more balanced market. Whether you are looking to buy or to sell your condo, contact the condo experts with The Bouma Group at (734)761-3060 or email info@bouma.com. Check back here for more information about the Ann Arbor market!

 

Ann Arbor Condo Report Update – April 2018

Both Condo Listings and Sales Down in April

Ann Arbor Condo Report April 2018

Ann Arbor condos have seen an all around decrease compared to 2017, in listings and sales, both monthly and year-to-date. A decent total of 90 listings were entered in April, which is down 7% in comparison to the 97 condos sold in the previous year. As well, the listing prices also saw the same 7% decline since last year, $310,026 from $334,608. The number of sales lowered by 14.6% this April when compared to 2017, 41 condos sold versus 48 condos sold. However it is not all declines, selling prices did rise from $251,735 to $275,124, which is a is a respectable increase of 9%. For both year-to-date listings and sales, there was a drop in inventory but an increase in prices. There was a 7% decline in the amount of new listings entered thus far; but a 10% increase in the average listing price, $313,866 to $345,998. The 122 condos sold this year are 21% below the amount sold in 2017 year-to-date; although, the selling price increased 9.7% from $260,239 to $285,709 this year. On average, it is a seller’s market for Ann Arbor condos this April, especially for more affordable units. However, luxury condos are considered a buyer’s market; with the outlier of condos that are priced over 1 million dollars.

Although there has been an overall decrease this year for Ann Arbor condos, prices are slowly increasing and the market is doing okay. Whether you are looking to buy or sell a condo, contact the experts with The Bouma Group at (734)761-3060 or email info@bouma.com. To stay updated on the market statistics, check back here!

Fox Pointe, Ann Arbor Condominium Report for 2017

Fox Pointe Year End Condo Report – 2017

In 2017, Fox Pointe sold a total of 10 condos; 3 of which The Bouma Group was involved with. The sale increased this year by doubling compared to the previous year. On average, the sale price exceeded the listing price, allowing home owners to have control.Fox Pointe condos, Ann Arbor, MI

Sold Condos:

  • $225,000. 1375 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths. Listed by The Bouma Group
  • $224,900. 1358 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths.
  • $223,000. 1434 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths.
  • $220,000. 1495 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths. Listed by The Bouma Group
  • $220,000. 1460 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths.
  • $218,000. 1422 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths.
  • $215,000. 1488 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths.
  • $205,000. 1464 Fox Pointe Cir., Ann Arbor. 1382 square feet with 2 bedrooms and 2.0 baths. Listed and Sold by The Bouma Group

For a complete list of Sold Condos at Fox Pointe, Ann Arbor, contact us at (734)761-3060

Currently, the average sale price of condos at Fox Pointe is $215,690, which is an increase of 15.5% compared to the ASP in 2016. The average price per square foot for the 10 condos sold in 2017 is $156.00. which is also an increase of 15.5% in comparison to the A$/SF of $135.00 in the previous year. For more details and information about Fox Pointe, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous market report for Fox Pointe here!

Walnut View, Ann Arbor Condominium Report for 2017

Walnut View Year End Condo Report – 2017

In 2017, Walnut View sold a total of 4 condos; 1 of which The Bouma Group was involved with. The sales increased by 1 condo compared to the previous year. Offers that were both above and below the listing price were accepted which shows negotiation between the buyers and sellers.Walnut View Condos, Ann Arbor, MI

Sold Condos:

  • $453,575. 1335 Nottington Ct., Ann Arbor. 1521 sq. ft., + 1200 in finished lower level, 3 bedrooms and 3.0 baths.
  • $366,000. 3275 Chamberlain Cir., Ann Arbor. 1401 sq. ft., + 900 in finished lower level, 2 bedrooms and 3.0 baths.
  • $358,500. 1311 Nottington Ct., Ann Arbor. 1401 sq. ft., + 1000 in finished lower level, 4 bedrooms and 3.0 baths.
  • $356,000. 1327 Nottington Ct., Ann Arbor. 1401 sq. ft., + 1051 in finished lower level, 2 bedrooms and 3.0 baths. Listed by The Bouma Group

Currently, the average sale price of condos at Walnut View is $383,519, which is an increase of 15% compared to the ASP in 2016. The average price per square foot for the 10 condos sold in 2017 is $267.00, which is also an increase of 15% in comparison to the A$/SF in the previous year. For more details and information about Walnut View, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous market report for Walnut View here!

Walnut Glen, Ann Arbor Condominium Report for 2017

Walnut Glen Year End Condo Report – 2017

In 2017, Walnut Glen sold a total of 10 condos; 3 of which The Bouma Group was involved with. The amount of sales stayed consistent with 10 condos selling last year as well. Frequently, the sale price was similar to the listing price which is favorable for both the buyer and seller.Walnut Glen Condos, Ann Arbor, MI

Sold Condos:

  • $255,000. 1157 Joyce Ln., Ann Arbor. 1160 square feet with 2 bedrooms and 2.0 baths. Sold by The Bouma Group
  • $215,000. 1052 Joyce Ln., Ann Arbor. 1319 square feet with 3 bedrooms and 2.0 baths.
  • $200,000. 1227 Joyce Ln., Ann Arbor. 1160 square feet with 2 bedrooms and 2.0 baths.
  • $185,500. 1167 Joyce Ln., Ann Arbor. 1251 square feet with 2 bedrooms and 2.0 baths. Listed by The Bouma Group
  • $185,000. 1050 Joyce Ln., Ann Arbor. 1195 square feet with 2 bedrooms and 2.0 baths. Sold by The Bouma Group
  • $179,500. 1135 Joyce Ln., Ann Arbor. 1160 square feet with 2 bedrooms and 2.0 baths.
  • $177,900. 1101 Joyce Ln., Ann Arbor. 1195 square feet with 2 bedrooms and 2.0 baths.
  • $177,900. 1255 Joyce Ln., Ann Arbor. 1140 square feet with 2 bedrooms and 2.0 baths.

Currently, the average sale price of condos at Walnut Glen is $191,530, which is an increase of 6% compared to the ASP in 2016. The average price per square foot for the 10 condos sold in 2017 is $161.00, which is an increase of 8% in comparison to the A$/SF of $149.00 in 2016. For more details and information about Walnut Glen, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Learn more about Walnut Glen here!

Weatherstone, Ann Arbor Condominium Report for 2017

Weatherstone Year End Condo Report – 2017

In 2017, Weatherstone sold a total of 32 condos, 2 of which The Bouma Group was involved with. The sales have doubled from last year.  On average, the sale price exceeded the listing price, allowing home owners to have control.Weatherstone Condos, Ann Arbor, MI

Sold Condos:

  • $245,000. 1653 Coburn Dr., Ann Arbor. 1422 square feet with 3 bedrooms and 2.0 baths.
  • $231,500. 1682 Coburn Dr., Ann Arbor. 1400 square feet with 2 bedrooms and 2.0 baths.
  • $231,000. 1643 Coburn Dr., Ann Arbor. 1400 square feet with 2 bedrooms and 2.0 baths.
  • $211,000. 1651 Coburn Dr., Ann Arbor. 1052 square feet with 2 bedrooms and 1.0 baths.
  • $205,000. 1637 Coburn Dr., Ann Arbor. 1052 square feet with 2 bedrooms and 1.0 baths.
  • $203,000. Weatherstone Dr., Ann Arbor. 1266 square feet with 2 bedrooms and 2.0 baths.
  • $185,000. 1506 Long Meadow Tr., Ann Arbor. 1190 square feet with 2 bedrooms and 2.0 baths. Listed by The Bouma Group
  • $189,900. 1540 Long Meadow Tr., Ann Arbor. 1101 square feet with 2 bedrooms and 2.0 baths. Sold by The  Bouma Group

For a complete list of Sold Condos at Weatherstone, Ann Arbor, contact us at (734)761-3060

Currently, the average sale price of condos at Weatherstone is $190,717, which is an increase of 7% compared to the ASP in 2016. The average price per square foot for the 32 condos sold in 2017 is $163.00, which is an increase of 11.5% in comparison to the A$/SF of $146.00 in the previous year. For more details and information about Weatherstone, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous condo report for Weatherstone here!

Geddes Lake, Ann Arbor Condominium Report for 2017

Geddes Lake Year End Condo Report – 2017

In 2017, Geddes Lake sold a total of 30 condos; 1 of which The Bouma Group was involved with. The sales increased by 1 condo compared to the previous year. Offers that were both above and below the listing price were accepted, and selling prices tended to be close to the LP.Geddes Lake Condo, Ann Arbor, MI

Sold Condos

  • $240,000. 729 Peninsula Ct., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $240,000. 3121 Lake Haven Dr., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $238,000. 3023 Lake Haven Dr., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths. Sold by The Bouma Group
  • $230,500. 799 Watersedge Dr., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $230,000. 621 Watersedge Dr., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $225,000. 628 Watersedge Ct., Ann Arbor. 1516 square feet with 2 bedrooms and 2.1 baths.
  • $223,000. 731 Watersedge Dr. #239, Ann Arbor. 1260 square feet with 2 bedrooms and 1.1 baths.
  • $222,400. 689 Watersedge Dr., Ann Arbor. 1260 square feet with 2 bedrooms and 1.1 baths.

Currently, the average sale price of condos at Geddes Lake is $204,297, which is an increase of 10.5% compared to the ASP in 2016. The average price per square foot for the 30 condos sold in 2017 is $157.00, which is an increase of 8% in comparison to the A$/SF of $145.00 in the year prior. For more details and information about Geddes Lake, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous market report for Geddes Lake here!

Meadow Grove, Ann Arbor Condominium Report for 2017

Meadow Grove Year End Condo Report – 2017

In 2017, Meadow Grove sold a total of 6 condos; 2 of which The Bouma Group was involved with. The amount of sales stayed consistent with 6 condos selling in 2016 as well.  Frequently, the sale price exceeded the listing price, allowing home owners to have control.Meadow Grove Condos, Ann Arbor, MI

Sold Condos:

  • $320,000. 3622 Bent Trail Dr., Ann Arbor. 1576 sq. ft., + 750 in finished lower level, 3 bedrooms and 3.1 baths.
  • $297,000. 3525 Meadow Grove Tr., Ann Arbor. 1087 sq. ft., + 700 in finished lower level, 3 bedrooms and 3.0 baths.
  • $296,000. 3628 Meadow Grove Tr., Ann Arbor. 1666 sq. ft., + 500 in finished lower level, 3 bedrooms and 3.1 baths. Listed by The Bouma Group
  • $296,000. 3598 Bent Trail Dr., Ann Arbor. 1622 sq. ft., + 600 in finished lower level, 3 bedrooms and 3.1 baths.
  • $276,400. 3520 Meadow Grove Tr., Ann Arbor. 1491 sq. ft., +695 in finished lower level, 2 bedrooms and 2.1 baths. Listed by The Bouma Group
  • $265,000. 3601 Meadow Grove Tr., Ann Arbor. 1531 square feet with 2 bedrooms and 2.1 baths

Currently, the average sale price of condos at Meadow Grove is $291,733, which is a bigger increase of 17% compared to the ASP in 2016. The average price per square foot for the 6 condos sold in 2017 is $199.00, which is a large increase of 20.5% in comparison to the A$/SF of $165.00 in the previous year. For more details and information about Meadow Grove, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous market report for Meadow Grove here!

Woods of Ann Arbor Condominium Report for 2017

Woods of Ann Arbor Year End Condo Report – 2017

In 2017, Woods of Ann Arbor sold a total of 2 condos; 1 of which The Bouma Group was involved with. The sales doubled this year, as only 1 condo sold the previous year. Both selling prices were similar to the listing price, which is favorable for both the sellers and the buyers.Woods of Ann Arbor Condos, Ann Arbor, MI

Sold Condos:

  • $279,000. 2421 Mulberry Ct., Ann Arbor. 1476 square feet with 2 bedrooms and 2.1 baths. Listed by The Bouma Group
  • $270,000. 2457 Mulberry Ct., Ann Arbor. 1440 square feet with 2 bedrooms and 2.1 baths.

Currently, the average sale price of condos at Woods of Ann Arbor is $274,500, which is a decrease of 14% compared to the sale price of the condo sold in 2016. Between the 2 condos sold last year, the average price per square foot is $188.00 which is a decrease of 8% in comparison to the price per square foot of $204.00 from the year prior. Note: the single condo in 2016 had 100+ more square feet and an additional bedroom, in contrast to the average of the two condos sold this past year. For more details and information about Woods of Ann Arbor, contact the condo specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. View the previous market report for Woods of Ann Arbor here!