Ann Arbor Condo Real Estate Update – February 2012

Heatherwood Condos, Ann Arbor is a moderately sized complex with a convenient south side location. The great facilities include an in-ground pool, clubhouse, volleyball, picnic areas and more. There are currently 2 condos for sale, 2 for rent, and since our last update in September, 2 units have sold.

Condos Listed for Sale:

• $79,900. 1252 square feet with 2 bedrooms and 2 baths. Foreclosure & Sale Pending
• $125,000. 1190 square feet with 2 bedrooms and 2 baths. Short Sale

Condos for Rent:

• $1200/month. 1100 square feet with 2 bedrooms and 2 baths.
• $1300/month. 1252 square feet with 2 bedrooms and 2 baths.

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Where is the Ann Arbor Real Estate Market Headed?

Optimism has returned to the Ann Arbor real estate market.  While values are still anywhere from 10-65% below the historic highs, they are no longer in a free fall. Ann Arbor homes are an incredible value right now. Low interest rates + the lowest prices in years = opportunity. I don’t believe that this opportunity will last much longer due to a lack of inventory. Most of the leading indicators show a lack of supply and strong demand. Job growth, lack of new construction, and low interest rates have nudged buyers back into the market. Low inventory, decreasing foreclosures, and slowly rising prices are beginning to nudge sellers back into the market. Both of these trends bode well for a healthy real estate market in Ann Arbor.

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Ann Arbor Condo Real Estate Update – February 2012

Fox Pointe Condos, Ann Arbor have a great location near shopping, restaurants, area freeways and more, making them a popular choice among Ann Arbor condo buyers. These stacked ranch units feature numerous upgrades and many back to either the pond or wooded areas. There is currently 1 condo listed for rent and in 2011, 3 condos rented and 3 condos sold.

Condo Listed for Rent:

• $1395/month. 1382 square feet with 2 bedrooms and 2 baths.

Rented Condos:

• $1200/month. 1382 square feet with 2 bedrooms and 2 baths.
• $1350/month. 1382 square feet with 2 bedrooms and 2 baths.
• $1350/month. 1382 square feet with 2 bedrooms and 2 baths.

Sold Condos: Read the rest of this entry

Ann Arbor Condo Real Estate Update – February 2012

Nature Cove Condos, Ann Arbor are located on the east side of town, within walking distance of parks and shopping. Situated in a residential neighborhood, Nature Cove offers a quiet setting with pond and wooded views. There are currently 3 condos listed for sale and in 2011, 2 condos sold.

Condos Listed for Sale:

• $169,900. 1458 square feet with 2 bedrooms and 2 baths. Sale Pending
• $187,500. 1656 square feet with 2 bedrooms and 2 baths. Sale Pending
• $219,900. 1656 square feet with 3 bedrooms and 2 baths.

Sold Condos: Read the rest of this entry

Ann Arbor Condo Real Estate Update – January 2012

Morningside Condos, Ann Arbor are located on the west side of town, off of Maple just north of Scio Church. This small collection of Ann Arbor condos features 20 detached units in a private cul-de-sac setting. There is currently 1 condo listed for sale and in 2011, 0 condos sold.

Condo Listed for Sale:

• $164,900. 1930 square feet with 3 bedrooms and 2.1 baths. Foreclosure

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Ann Arbor Condo Real Estate Update – January 2012

Meadow Grove Condos, Ann Arbor is a moderately sized complex located on the south side of town in Pittsfield Township. Comprised of mainly 2 story units, each condo features a basement and attached garage. There are currently 0 condos listed for sale and in 2011, 7 condos sold and 1 was rented.

Sold Condos:

• $153,000. 1491 square feet with 3 bedrooms and 3.1 baths. Short Sale
• $170,000. 1666 sq. ft. +600 in finished lower level, 3 bedrooms and 3.1 baths.
• $188,000. 1491 sq. ft. +650 in finished lower level, 3 bedrooms and 3.1 baths. Sold by The Bouma Group
• $192,000. 1622 sq. ft. +600 in finished lower level, 3 bedrooms and 3.1 baths.
• $195,000. 1491 sq. ft. +650 in finished lower level, 3 bedrooms and 3.1 baths.
• $199,000. 1759 sq. ft. +600 in finished lower level, 3 bedrooms and 3.1 baths.
• $199,000. 1622 sq. ft. +600 in finished lower level, 3 bedrooms and 3.1 baths.

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Ann Arbor Real Estate Update – January 2011

Waterways Subdivision, Ann Arbor is a luxurious neighborhood of fine homes on larger lots, many with wooded or pond views. Homes have an Ann Arbor mailing address, but children attend Saline Schools, so many refer to it as a Saline Subdivision. There are currently 2 homes listed for sale and in 2011, 2 homes sold.

Homes Listed for Sale:

• $439,900. 3589 sq. ft. +1202 in finished lower level, 4 bedrooms and 4.1 baths. Sale Pending.
• $499,900. 3769 sq. ft. +370 in finished lower level, 5 bedrooms and 3.1 baths. Sale Pending.

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Ann Arbor Real Estate Update – January 2011

Lansdowne Subdivision is an established Ann Arbor neighborhood of quality built homes. Located within walking distance of Pioneer high and close to downtown Ann Arbor, this is a popular choice for Ann Arbor home buyers. There are currently 5 homes listed for sale, and in the past 12 months, 8 homes have sold.

Homes Listed for Sale:

• $295,000. 2322 square feet with 4 bedrooms and 2.1 baths. Foreclosure & Pending Sale
• $299,900. 2152 sq. ft. +580 in finished lower level, 5 bedrooms and 2.1 baths. Pending Sale
• $300,000. 2523 square feet with 4 bedrooms and 2.1 baths.
• $300,000. 2300 square feet with 4 bedrooms and 2.1 baths. Pending Sale
• $355,900. 2480 sq. ft. +798 in finished lower level, 4 bedrooms and 3.2 baths.

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Ann Arbor Restaurant Week January 15-20, 2012

Calling all foodies and those who like a good value – Ann Arbor Restaurant Week begins this Sunday! If you didn’t get your fill of fantastic food over the holidays, you have one last chance without feeling the guilt. Local chefs are putting together special menus to highlight their best culinary skills during this week long celebration. Prices have remained the same as last year, with $12 lunches and $25 dinners. These fixed priced menus generally offer 3 course meals, with a choice of items, and a select few will be offering 2 for 1 deals. Here is a list of participants:

Downtown Ann Arbor Restaurants:

Ann Arbor Condo Inventory Down 12%

When compared with last month, inventory for the overall Ann Arbor condo market has decreased by 12% and the months supply has put it into a seller’s market. Spring will be here before you know it, what a great time to get your condo listed for sale!

Here at The Bouma Group, we track all aspects of Ann Arbor Condos and Real Estate, including: Downtown Ann Arbor Condos, Ann Arbor Condo Complexes, and specific prices points. To learn more about this month’s condo data, or to discuss what is happening in your complex, contact us today at 734-761-3060 or info@bouma.com – we love to talk about Ann Arbor Condos!