Higher Priced Condos are Selling
Ann Arbor Condos in the higher price ranges have been selling fairly quickly this year. In the $500,000-$1,000,000 price range, of the 13 condos listed for sale, 7 are new construction and 6 of those are under contract with a buyer. Typically the higher price points are slower to sell, but there have been 23 sales year-to-date and it is a balanced market with a 6.8 month supply. The overall condo market is faring well, with 585 units selling year-to-date, compared with 546 this time last year. The average sale price has increased 10% to $225,800. It remains a seller’s market with a 2.5 month supply of condo listings.
Values continue to increase and fall is still a great time to get your condo listed for sale! Don’t wait for the spring market and increased inventory, call us at 734-761-3060 or email info@bouma.com for an analysis of what your condo is worth. Looking to purchase? View Ann Arbor condo complexes here!
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