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Category Archives: Ann Arbor Real Estate

Forestbrooke, Ann Arbor Neighborhood Report

Forestbrooke Market Update – May 2021

Forestbrooke is an established Ann Arbor subdivision consisting of beautiful large trees and parks close by. Within the neighborhood, there is a pool that is used for both competitive and recreational swimming. There are 2 active listings and so far this year, 1 home has sold.

Homes for Sale:

  • $300,000. 2725 Brandywine Drive, Ann Arbor. 1728 square feet with 4 bedrooms and 2.0 baths.
  • $300,000. 3 Bristol Court, Ann Arbor. 1093 square feet with 3 bedrooms and 2.0 baths. Sale Pending

Home Sold in 2021:

  • $320,000. 8 Bristol Court, Ann Arbor. 1008 sq. ft., + 900 in the finished lower level; 3 bedrooms and 2.1 baths.

Last year at Forestbrooke, 8 homes sold with an average sale price of $278,625 and an average price per square foot of $204.42. The 1 home sold thus far in 2021 has a SP of $320,000, up 14.8%, and a $/SF of $317.46, up a significant 55.3%. To learn more about the home values at Forestbrooke, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Browse more Ann Arbor homes here!

Ann Arbor Real Estate Report – April 2021

Ann Arbor Homes Experience an Influx of New Inventory

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The Spring season brought many new listings with it this April, there were 172 Ann Arbor homes added to the market, which is a substantial 126.3% increase from the 76 entered last April. Even with more inventory, sellers will be pleased to know that the average days on the market declined by 30%, at only 21 days recently. In comparison to the 83 homes sold the April prior, a total of 121 properties were sold this past month demonstrating a 45.8% rise. The average sale price was a significant 41.4% higher at $605,381 versus the $428,015 ASP before.

As for the year-to-date statistics, there was an overall increase from last year. At this time last year, 484 homes had been listed, but this year there was an 11% increase as 537 properties have been put up for sale. Moreover, there were 512 sold properties, which is a considerable 63.1% rise from the 314 previously. Sale prices experienced a 16% increase from $446,818 to $518,187 currently.

If you have more inquiries about the Ann Arbor housing market, don’t hesitate to reach out to the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View our active listings here!

Lansdowne, Ann Arbor Neighborhood Report

Lansdowne Market Update – May 2021

With a basketball court and soccer field, this Ann Arbor subdivision is great for sporty families. The homes at Lansdowne are sturdy and many of them have been renovated. There are no active listings and so far this year, 4 homes have sold.

Homes Sold in 2021:

  • $585,000. 2245 Chaucer Court, Ann Arbor. 1802 square feet with 3 bedrooms and 2.0 baths.
  • $505,000. 2078 Ascot Road, Ann Arbor. 1868 square feet with 4 bedrooms and 2.0 baths.
  • $459,900. 2484 Dundee Drive, Ann Arbor. 2052 sq. ft., + 400 in finished lower level; 4 bedrooms and 2.1 baths.
  • $429,000. 1555 Scio Church Road, Ann Arbor. 1847 square feet with 4 bedrooms and 2.0 baths.

Last year at Lansdowne, 10 homes sold for an average sale price of $524,333 and an average price per square foot of $229.20. The 4 homes sold thus far in 2021 have an ASP of $478,725, down 8.7%, and an A$/SF of $254.18, up 10.9%. To learn more about home values at Lansdowne, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!

Kirkway of Scio, Ann Arbor Neighborhood Report

Kirkway of Scio offers walking paths, a playground, and decent sized yards, making this a great Ann Arbor subdivision. Even with the relaxed atmosphere, conveniences aren’t too far away for owners. There is 1 active listing on the market and so far this year, none have sold.

Home for Sale:

  • $489,900. 387 Sedgewood Lane, Ann Arbor. 2375 sq. ft., + 1185 in the finished lower level; 4 bedrooms and 2.1 baths.

Last year at Kirkway of Scio, 2 homes sold with an average sale price of $440,000 and an average price per square foot of $175.47. In comparison to the 4 homes in 2019 whose ASP was $381,500, there was a difference of 15.3% to 2020, and the A$/SF of $168.95 had a 3.9% difference. If the current listing sells at its asking price of $489,900, there would be a 11.3% increase from 2020, and the $/SF of $206.27 would experience a 17.6% rise from 2020. For more information about the homes at Kirkway of Scio, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor homes here!

Tanglewood, Ann Arbor Neighborhood Report

Tanglewood Market Update – May 2021

This unique Ann Arbor neighborhood is a collection of custom built homes on well-sized lots. While Tanglewood is calm and tucked away, it also is only a short drive to nearby shops and major roadways. There is 1 active listing on the market and so far this year, none have sold.

Home for Sale:

  • $669,900. 5537 Tanglewood Drive, Ann Arbor. 3494 sq. ft., + 1216 in the finished lower level; 5 bedrooms and 2.1 baths. Sale Pending

Last year at Tanglewood, 1 home sold with a sale price of $635,000 and a price per square foot of $185.24. In comparison to the 5 homes in 2019, their average SP was $718,800, a difference of 11.8%, and their average $/SF was $212.95, a difference of 13%. If the current listing sells at its asking price of $669,900, there would be a 5.5% increase from 2020, and the $/SF of $191.73 would be a rise of 3.5% from 2020. For more information on the homes at Tanglewood, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor homes here!

Vernon Downs, Ann Arbor Neighborhood Report

Vernon Downs Market Update – May 2021

Vernon Downs is well known for its sturdy homes inclusive of hardwood and fireplaces. This larger Ann Arbor neighborhood is also conveniently situated near amenities and the highway. There is 1 active listing and so far this year, 7 homes have sold. The Bouma Group was involved with 1 of the sales.

Home for Sale:

  • $350,000. 1745 Dunmore Road, Ann Arbor. 1160 square feet with 3 bedrooms and 1.1 baths. Sale Pending

Homes Sold in 2021:

  • $450,000. 1724 Waltham Drive, Ann Arbor. 1432 sq. ft., + 500 in the finished lower level; 3 bedrooms and 3.0 baths.
  • $430,000. 2002 Brampton Court, Ann Arbor. 1306 square feet with 3 bedrooms and 1.1 baths.
  • $420,000. 1824 Saxton Street, Ann Arbor. 1620 square feet with 3 bedrooms and 1.1 baths.
  • $400,000. 1901 Waltham Drive, Ann Arbor. 1840 square feet with 4 bedrooms and 1.1 baths.
  • $370,000. 1524 Waltham Drive, Ann Arbor. 1380 square feet with 3 bedrooms and 1.1 baths.
  • $280,000. 1724 Weldon Boulevard, Ann Arbor. 1092 square feet with 3 bedrooms and 2.0 baths. Listed by The Bouma Group
  • $247,900. 1700 Scio Church Road, Ann Arbor. 1102 square feet with 3 bedrooms and 1.0 bath.

Last year at Vernon Downs, 23 homes sold with an average sale price of $391,478 and an average price per square foot of $280.39. The 7 homes sold thus far in 2021 have an ASP of $371,129, down 5.2%, and an A$/SF of $267.09, down 4.7%. If you are considering listing or buying a home at Vernon Downs, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!

Oak Park, Ann Arbor Neighborhood Report

Oak Park Market Update – May 2021

This tranquil Ann Arbor subdivision is full of trees. Oak Park is a well established area and many of the homes have been remodeled. There is 1 active listing on the market and so far this year, 1 home has sold.

Home for Sale:

  • $275,000. 4430 Central Boulevard, Ann Arbor. 1206 sq. ft., + 777 in the finished lower level; 3 bedrooms and 1.1 baths. Sale Pending

Home Sold in 2021:

  • $319,000. 2911 Grant Drive, Ann Arbor. 1724 sq. ft., + 1300 in the finished lower level; 3 bedrooms and 2.1 baths.

Last year at Oak Park, 2 homes sold with an average sale price of $285,000 and an average price per square foot of $200.57. The 1 home that has sold thus far in 2021 has a SP of $319,000, up 11.9%, and an $/SF of $185.03, down 7.7%. To learn more about homes at Oak Park, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. View more Ann Arbor homes here!

4 Tricks to Buying a Home in a Crazy Hot Market

Key Takeaways:

  • Despite the ongoing pandemic, the real estate market is more competitive than ever before—and that means buyers have to do more to get their offer accepted.
  • Want to stand out from the competition and score the home of your dreams? Our four tips can help you achieve real estate success in no time.
  • If you have any questions about buying in today’s hot market, just give us a call for even more personalized advice!

The 4 Tips Every Buyer Needs to Know in 2021

If you’ve been house-hunting for a while, you’ve probably noticed that today’s real estate market is more than just a little competitive. Low mortgage rates, high demand, and dwindling inventory have created ideal conditions for sellers—but it’s still very possible to score a fantastic deal on a home.

Want to know the secret to buying a home in 2021? Here are four tips that can help you take back control in a seller-driven market.

Get your finances in order

Calculating mortgage payments

First and foremost, you need to get your finances in order before you even consider looking at homes. Start by paying off as much debt as you can and increasing your credit score. It’s also a good idea to keep track of just how much you have saved for a down payment. Sellers are more likely to choose buyers who can put down at least 20% or pay cash.

Want to strengthen your offer even more? Get pre-approved or attach a higher earnest money deposit to show a seller you’re serious about buying their home.

Know what you want

Buying a home is one of life’s most exciting milestones. However, it’s easy to get caught up in the little details—which is why it’s crucial to do your research in advance. Connect with a local agent early on to discuss your home-buying goals. A good agent will help you hone in on your budget, wants, and needs, as well as the right area or neighborhood.

Prepare for a bidding war

Negotiating a deal

According to a recent survey by Redfin, more than half of all buyers found themselves in a bidding war last year. And while the idea of competing against other home-seekers might seem overwhelming, there are a few things you can do to stand out.

If you’re trying to score a house with multiple bids, send in your best and final offer up front. You may also want to include an escalation clause, which automatically increases your purchase price by certain increments (like a few thousand dollars at a time) so you avoid getting outbid.

It’s also a good idea to consider homes below your budget, especially if you have your heart set on a popular neighborhood. This gives you some flexibility if you end up in a bidding war.

Appeal to the seller

Talking about real estate

Even if you find yourself in a bidding war, it’s still possible to come out ahead. Believe it or not, sellers don’t always choose the highest offer, even if it far exceeds the original asking price.

You can appeal to a seller’s peace of mind by limiting your contingencies, offering to pay closing costs, and letting them choose the closing date. Adding these extra bonuses might seem minor, but they can really impact a seller’s final decision.

Only Buy with the Best

Working with a top-notch agent can help you navigate 2021’s crazy real estate market with ease. So if you’re looking for some guidance, it’s time to give us a call at The Bouma Group!

Whether you’re at the beginning of the buying process or are already searching for a home, you can trust us to help you find your perfect place. Contact us today at 734-761-3060 or info@bouma.com to get started; we look forward to working with you!

Hickory Grove Estates, Ann Arbor Neighborhood Report

Hickory Grove Market Update – May 2021

This smaller Ann Arbor neighborhood is comprised of 53 well-sized homes. Hickory Grove Estates is nestled between Ann Arbor and Saline and is close to the expressway. There is 1 active listing on the market and so far this year, 1 has sold.

Home for Sale:

  • $425,000. 5787 Glen Creek Court, Ann Arbor. 1981 sq. ft., + 950 in the finished lower level; 3 bedrooms and 2.1 baths. Sale Pending

Home Sold in 2021:

  • $451,500. 3140 Potomac Court, Ann Arbor. 2506 sq. ft., + 500 in the finished lower level; 3 bedrooms and 3.0 baths.

Last year at Hickory Grove Estates, 4 homes sold with an average sale price of $364,425 and an average price per square foot of $179.78. The 1 home sold thus far in 2021 has a SP of $451,000, up 23.8%, and a $/SF of $180.17, up minimally. If you are interested in listing or buying a home at Hickory Grove Estates, contact the real estate experts with The Bouma Group at (734)761-3060 or email info@bouma.com. Find more Ann Arbor homes here!

Churchill Downs, Ann Arbor Neighborhood Report

Churchill Downs Market Update – May 2021

The homes at Churchill Downs come in a variety of styles but all of them have a traditional appearance. With a picnic spot, basketball court, and schools close by, this is a family-friendly Ann Arbor subdivision. There are 2 active listings on the market and so far this year, 2 have sold.

Homes for Sale:

  • $399,999. 2155 Blaney Drive, Ann Arbor. 1692 sq. ft., + 928 in the finished lower level; 3 bedrooms and 2.1 baths. Sale Pending
  • $345,000. 2210 Steeplechase Drive, Ann Arbor. 1540 square feet with 3 bedrooms and 1.1 baths.

Homes Sold in 2021:

  • $372,000. 2250 Steeplechase Drive, Ann Arbor. 1859 sq. ft., + 900 in the finished lower level; 4 bedrooms and 2.1 baths.
  • $340,000. 2015 Wiltshire Court, Ann Arbor. 1296 sq. ft., +700 in the finished lower level; 3 bedrooms and 1.1 baths.

Last year at Churchill Downs, 6 homes sold with an average sale price of $397,417 and an average price per square foot of $221.94. The 2 homes sold thus far in 2021 have an ASP of $351,000, down 11.7%, and an A$/SF of $227.37, up slightly. For more information about the homes at Churchill Downs, contact the real estate specialists with The Bouma Group at (734)761-3060 or email info@bouma.com. Discover more Ann Arbor homes here!