Lake Forest Subdivision, Ann Arbor Real Estate Report

Ann Arbor Real Estate Report – September 2011

Lake Forest Subdivision, Ann Arbor is an upscale neighborhood of semi-custom, executive homes. There are currently 5 homes listed for sale, 1 home for rent, and 8 homes have sold so far this year.

Homes for Sale:

• $270,000. 2200 square feet with 4 bedrooms and 2.1 baths. Short Sale
• $349,900. 2026 sf +1500 in finished lower level, 4 bedrooms and 2.2 baths. Listed by The Bouma Group
• $415,000. 3051 square feet with 4 bedrooms and 2.1 baths.
• $425,000. 2793 square feet with 4 bedrooms and 2.1 baths.
• $519,900. 3760 square feet with 4 bedrooms and 3.1 baths.

Homes for Rent:

• $2800/month. 3760 square feet with 4 bedrooms and 3.1 baths.

Sold Homes:

• $239,900. 2207 square feet with 3 bedrooms and 2.1 baths. Foreclosure
• $268,000. 2183 +1000 in finished lower level, 4 bedrooms and 3.1 baths.
• $347,000. 2558 sf +1000 in finished lower level, 4 bedrooms and 3.1 baths.
• $355,000. 2014 sf +960 in finished lower level, 3 bedrooms and 3.1 baths.
• $390,000. 2838 sf +850 in finished lower level, 3 bedrooms and 2.1 baths.
• $428,000. 3043 sf +1457 in finished lower level, 5 bedrooms and 3.1 baths.
• $477,200. 3448 sf +1400 in finished lower level, 5 bedrooms and 3.1 baths.
• $570,000. 3384 sf +1570 in finished lower level, 4 bedrooms and 4.1 baths.

Last year at Lake Forest subdivision, 14 homes sold with an average sale price of $371,071 and average price per square foot of $141.58. So far in 2011, the 8 homes that sold have an ASP of $382,525 and AP/SF of $140.58 which is keeping in line with last year. Lake Forest saw a high in prices in 2005 when the ASP was $506,530, which is a decline of almost 25% compared to sales this year, but is up 6% from the low in 2008 of $359,777. If you’ve been considering purchasing a home in Lake Forest, now is the perfect time while prices are still relatively low and interest rates are hovering around 4%. To learn more about Lake Forest, or the nearby Stonebridge Estates, Waterways, or Lohr Lake subdivisions, contact the Ann Arbor Realtors at The Bouma Group today at 734-761-3060 or info@bouma.com.