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Category Archives: Ann Arbor Condo Market Updates

Downtown Ann Arbor Condo Quarterly Market Report – Part 2!

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Here are the Downtown Ann Arbor Condo Stats!

The downtown Ann Arbor condo market saw 13 closings in the 4th quarter of 2022, with 4 of those sales being new construction. This compares to 10 closings in the 4th quarter of 2021 and 6 closings in 2020. Of the 13 closings, 3 occurred at 309 North Ashley, a new construction project, and they all sold for over list price, which is normal as purchasers typically do a number of upgrades.  Of the remaining 10 closings, one condo sold for list price, and everything else sold for under list price.

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Downtown Ann Arbor Condo Quarterly Market Report

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The Downtown Ann Arbor Condo Market is Changing… Once Again!

The market in 2023 will be one where both buyers and sellers are going to feel some pain. For
the past 6-7 years, buyers and sellers were happy. Sellers were happy because they were
getting great prices for their downtown Ann Arbor condos, and buyers were happy because they were able to buy in an appreciating market.

In 2023, buyers may be frustrated because they can afford less home than they could 1 year
ago. A buyer that could afford a $650,000 home at the beginning of last year, can afford a $450,000 home this year – all things being the same. Affordability challenges will continue to limit
the buying power of some. Sellers may be disappointed as they look back at the crazy
spring market they missed out on, where buyers were writing offers over list price – sometimes
as much as $100,000 over list price – and realize that they will have to accept a more reasonable
sales price that isn’t driven up by multiple offers.

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Geddes Lake, Ann Arbor Condo Report

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Geddes Lake Condo Report – June 2020

Geddes Lake is the perfect Ann Arbor condominium for those who lead active lifestyles and enjoy the outdoors. Currently, there are 7 condos listed for sale and so far this year 7 have sold.

Condos for Sale:

  • $239,000. 650 Peninsula Court, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths. Sale Pending
  • $235,000. 676 Peninsula Court, Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths. Sale Pending
  • $228,800. 682 Peninsula Court, Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths.
  • $222,000. 671 Watersedge Drive, Ann Arbor. 1260 square feet with 2 bedrooms and 1.1. baths.
  • $220,000. 608 Peninsula Court, Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths. Sale Pending
  • $217,500. 774 Watersedge Drive, Ann Arbor. 1208 square feet with 2 bedrooms and 1.1 baths. Sale Pending
  • $213,000. 3149 Lake Haven Drive, Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths.
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Cambridge, Ann Arbor Condo Report

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Cambridge Condo Report – June 2020

As one of Ann Arbor’s classic brownstones, Cambridge has both beautiful interiors as well as landscaping. Currently, there are no homes listed for sale and so far this year, 2 have sold.

Condos Sold in 2020:

  • $266,000. 2950 Signature Boulevard, Ann Arbor. 1400 sq. ft., + 174 in the finished lower level; 2 bedrooms and 2.0 baths.
  • $250,000. 2932 Signature Boulevard, Ann Arbor. 1473 sq. ft., + 200 in the finished lower level; 2 bedrooms and 2.0 baths.

Last year at Cambridge, 7 condos sold with an average sale price of $262,214 and an average price per square foot of $189.11. The 2 condos that have sold this year have an ASP of $258,000, down slightly, and an A$/SF of $179.86, down 4.9%. If you would like to learn more about the listing and selling activity at Cambridge, contact the condo specialists with The Bouma Group at info@condohotline.com or (888)581-6923. Find more information about Ann Arbor condominiums here!

Allen Creek Condos, Ann Arbor Market Update

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Allen Creek, Ann Arbor Condo Report – April 2020

Due to the small size of Allen Creek condo complex, there are rarely listings and sales. There was 1 sale in 2016 and 1 sale in 2015.

Condo Sales:

  • $276,500. 1890 W. Liberty, Ann Arbor. 1144 sq. ft., +500 in the finished lower level, 2 bedrooms and 2.1 baths. Sold in 2017
  • $223,950. 1870 W. Liberty, Ann Arbor. 1144 sq. ft., +411 in the finished lower level, 3 bedrooms and 2.1 baths.

Keep up to date with what is going on at Allen Creek condos and any other Ann Arbor condos here. Contact us at 734-761-3060 or info@bouma.com to be instantly notified when a condo does come to market or if you have any questions on the market!

Wickliffe Place Condos, Ann Arbor Market Update

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Wickliffe Place Condo Market Update – April 2020

Located in the Kerrytown District in Downtown Ann Arbor, Wickliffe Place is a desirable complex of upscale units with garages. There are currently 2 condos listed for sale and so far this year 0 have sold. In 2019, sold.

Condos for Sale:

  • $534,000. 633 N. 5th Avenue, Ann Arbor. 1368m sq. ft., +162 in finished lower level, 2 bedrooms and 2.1 baths.
  • $559,900. 641 N. 5th Avenue, Ann Arbor. 1368 sq. ft., 160 in finished lower level, 2 bedrooms and 2 baths. Listed by The Bouma Group, Sale Pending
  • $549,900. 653 N. 5th Avenue, Ann Arbor. 1344 sq. ft., +161 in finished lower level, 2 bedroom and 2.1 baths.

Sold Condos 2019:

In 2018, only 1 condo sold. It had an average sale price of $534,000 and an average price per square foot of $390.35. The 1 condo sold in 2019 has the exact same ASP and A$/SF. For more information on Wickliffe Place, contact the Ann Arbor Condo specialists with The Bouma Group today at 734-761-3060 or info@bouma.com. View more photos and amenities for Wickliffe Place here!

Brentwood Square Condo Report

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Condominium Report – August 2019

Brentwood Square, Ann Arbor MI

Brentwood Square has a classic exterior and comes in three different floor plans, all of which have been built with excellence. In the center of the Ann Arbor complex is a beautiful creek and pond, surrounding is nature area. Presently, 1 condo is listed for sale and 3 have been sold this year.

Condo for Sale:

  • $234,900. 1939 Lindsay Lane, Ann Arbor. 929 square feet with 2 bedrooms and 1.1 baths.

Condos Sold in 2019:

  • $263,000. 1879 Lindsay Lane, Ann Arbor. 1402 square feet with 2 bedrooms and 2.0 baths.
  • $225,000. 1877 Lindsay Lane, Ann Arbor. 926 square feet with 2 bedrooms and 1.1 baths.
  • $220,000. 1933 Lindsay Lane, Ann Arbor. 925 square feet with 2 bedrooms and 1.1 baths.

Last year at Brentwood Square, 6 condos sold with an average sale price of $269,575 and an average price per square foot of $231.30. The 3 condos that have sold so far in 2019 have an ASP of $236,000, down 12.5%, and an A$/SF of $222.72, down 3.2%. For more information on Brentwood Square, contact the condo experts with The Bouma Group at (734)761-3060 or via email info@condohotline.com. Click here to discover more regarding Ann Arbor condos!

Briarcrest Condo Report

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Condominium Report – August 2019

Briarcrest, Ann Arbor MI Condo Report - August 2019

Briarcrest is a well-situated and reasonably priced Ann Arbor complex. The warm townhomes come in two layouts and are inclusive of fireplaces, private balconies and much more! Presently, 1 condo is on the market and 1 has been sold this year.

Condo for Sale:

  • $174,900. 325 Briarcrest Drive #172, Ann Arbor. 983 square feet with 2 bedrooms and 2.0 baths. Sale Pending

Condos Sold in 2019:

  • $164,900. 225 Briarcrest Drive #208, Ann Arbor. 1134 square feet with 2 bedrooms and 2.1 baths.

Last year at Briarcrest, 9 units sold with an average sale price of $171,944 and an average price per square foot of $166.88. As only 1 condo has sold in 2019 so far, the sale price was $164,900, down 4.1%, and a price per square foot of $145.41, down 12.9%. For more information on Briarcrest, contact the condo experts with The Bouma Group at (734)761-3060 or via email info@condohotline.com. Click here for more on Ann Arbor condos!

Georgetown Commons Condo Report

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Condominium Report – July 2019

Georgetown Commons, Ann Arbor MI

This established collection of Ann Arbor townhomes offers classic curb appeal along with landscaping. Further, Georgetown Commons offers attached garages and sufficient living space for residents. Presently, 1 condo is listed for sale and 12 have been sold this year. The Bouma Group was involved in a couple of the sales.

Condo for Sale:

  • $187,500. 2724 Glenbridge Court, Ann Arbor. 882 sq. ft., + 126 in the finished lower level; 2 bedrooms and 1.0 baths.
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Gallery Park Condo Report

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Condominium Report – July 2019

Gallery Park, Ann Arbor MI Real Estate Report - July 2019

Gallery Park is a collection of deluxe Ann Arbor units built with additional elements inside. Condos are ranch style with more than one level and a variety of layouts. Presently, there are 3 condos that are listed and 2 have been sold this year.

Condos for Sale:

  • $439,900. 5569 Gallery Park Drive, Ann Arbor. 2334 sq. ft., + 1200 in the finished lower level; 4 bedrooms and 3.1 baths. Sale Pending
  • $439,000. 5554 Gallery Park Drive #17, Ann Arbor. 2335 sq. ft., + 1093 in the finished lower level; 4 bedrooms and 3.1 baths.
  • $319,900. 5574 Gallery Park Drive, Ann Arbor. 1890 square feet with 2 bedrooms and 2.1 baths. Sale Pending

Condos Sold in 2019:

  • $405,000. 5542 Gallery Park Drive #13, Ann Arbor. 2353 square feet with 3 bedrooms and 2.1 baths.
  • $349,000. 5604 Gallery Park Drive, Ann Arbor. 1535 square feet with 2 bedrooms and 2.0 baths. Sold by The Bouma Group

Last year at Gallery Park, 3 homes sold with an average sale price of $354,967 and an average price per square foot of $187.38. The 2 homes that have sold so far in 2019 have an ASP of $377,000, up 6.2%, and an APSF of $199.74, up 6.6%. To learn more about market values at Gallery Park, contact the condo experts with The Bouma Group at (734)761-3060 or via email info@bouma.com. More information on Ann Arbor condos here!

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Ann Arbor Condos