Ann Arbor Condo Real Estate Report – August 2011

Gallery Park Condos, Ann Arbor is a newer community of luxury condos on the west side of town. Each unit comes with a lower level and attached garage. There are still a few new construction condos available.

Condos Listed:

• $234,900. 1512 square feet with 2 bedrooms and 2 baths. New Construction
• $235,000. 1855 square feet with 3 bedrooms and 2.1 baths. New Construction
• $235,000. 1855 square feet with 3 bedrooms and 2.1 baths. New Construction & Under Contract
• $264,900. 2028 square feet with 2 bedrooms and 2.1 baths. New Construction
• $269,900. 1651 sf +771 in finished lower level, 2 bedrooms and 3.1 baths. Former Model
• $290,000. 2153 sf +1000 in finished lower level, 3 bedrooms and 4 baths.
• $299,900. 1651 sf +771 in finished lower level, 3 bedrooms and 3.1 baths.
• $330,000. 2359 sf +1000 in finished lower level, 3 bedrooms and 3.1 baths.
• $340,000. 2335 square feet with 3 bedrooms and 2.1 baths.

Condos for Rent:

• $1795/month. 1563 square feet with 2 bedrooms and 2.1 baths.
• $2100/month. 1941 sf +1000 in finished lower level with 2 bedrooms and 3.1 baths.

Condos Sold:

• $251,868. 1512 square feet with 2 bedrooms and 2 baths. New Construction
• $269,000. 2335 square feet with 3 bedrooms and 3.1 baths.
• $275,000. 2359 square feet with 3 bedrooms and 2.1 baths.
• $288,847. 1512 sf +1200 in finished lower level, 3 bedrooms and 3 baths. New Construction

Condos Rented:

• $1800/month. 1652 square feet with 3 bedrooms and 2.1 baths.
• $1900/month. 1652 square feet with 3 bedrooms and 2.1 baths.

Gallery Park Condos are really moving this year and as you can see in the data above, new construction condos are a popular choice. Last year at Gallery Park, 7 condos were rented and 5 condos sold with an average sale price of $188,235 and average price/square foot of $99.70. 1 sold condo was a foreclosure that closed for $72,250, which really brought down the ASP. Without that unit the ASP would be $217,231 and $/SF of $113.68, which is a better representation of values. To learn more about Gallery Park, or the nearby Ann Arbor Condos at Parkwood or Scio Village, contact the Real Estate experts at The Bouma Group at 734-761-3060 or info@bouma.com today. And for instant active and sold listing information on all area condos, visit our Ann Arbor Condo Hotline!