Geddes Lake Condos, Ann Arbor Real Estate Update

Ann Arbor Real Estate Report – August 2011

Geddes Lake Condos is a popular Ann Arbor condo complex located on the city’s east side. The great location, resort-like amenities, and beautiful grounds make Geddes Lake a favorite for condo owners. There are currently 10 condos for sale with 1 under contract, and so far this year 17 condos have sold and 2 have rented.

Condos for Sale:

• $90,000. 1280 square feet with 2 bedrooms and 1.1 baths. Listed by The Bouma Group
• $95,000. 1200 square feet with 2 bedrooms and 1.1 baths. Foreclosure. Listed by The Bouma Group
• $99,900. 1200 square feet with 2 bedrooms and 1.1 baths. Listed by The Bouma Group
• $104,900. 1208 square feet with 2 bedrooms and 1.1 baths.
• $115,000. 1515 square feet with 3 bedrooms and 2.1 baths. Foreclosure. Listed by The Bouma Group
• $119,000. 1516 square feet with 3 bedrooms and 2.1 baths. Under Contract
• $119,900. 1515 square feet with 3 bedrooms and 2.1 baths. Foreclosure. Listed by The Bouma Group
• $135,000. 1516 square feet with 3 bedrooms and 2.1 baths.
• $137,000. 1516 square feet with 3 bedrooms and 2.1 baths.
• $139,900. 1515 square feet with 3 bedrooms and 2.1 baths. Listed by The Bouma Group

Sold Condos:

• $86,000. 1516 square feet with 2 bedrooms and 1.1 baths.
• $99,900. 1230 square feet with 2 bedrooms and 1.1 baths.
• $101,000. 1208 square feet with 2 bedrooms and 1.1 baths. Listed and Sold by The Bouma Group
• $103,000. 1152 square feet with 2 bedrooms and 1.1 baths.
• $104,500. 1260 square feet with 2 bedrooms and 1.1 baths.
• $106,000. 1208 square feet with 2 bedrooms and 1.1 baths.
• $107,500. 1200 square feet with 2 bedrooms and 1.1 baths.
• $109,000. 1152 square feet with 2 bedrooms and 1.1 baths.
• $111,000. 1152 square feet with 2 bedrooms and 1.1 baths.
• $113,500. 1200 square feet with 2 bedrooms and 1.1 baths. Foreclosure. Listed by The Bouma Group
• $116,000. 1200 square feet with 2 bedrooms and 1.1 baths.
• $123,800. 1516 square feet with 2 bedrooms and 1.1 baths.
• $135,000. 1516 square feet with 3 bedrooms and 2.1 baths.
• $135,000. 1516 square feet with 3 bedrooms and 2.1 baths.
• $139,100. 1516 square feet with 3 bedrooms and 2.1 baths.
• $142,000. 1516 square feet with 3 bedrooms and 2.1 baths.

Rented Condos:

• $1050/month. 1230 square feet with 2 bedrooms and 1.1 baths.
• $1360/month. 1516 square feet with 3 bedrooms and 2.1 baths.

Last year at Geddes Lake, 23 condos sold with an average sale price of $118,063 and average price/SF of $88.90 (The Bouma Group was involved in 4 of these sales). The ASP for ’10 was up 30% over the lowest point in ’07 and the average $/SF was up 33%. Once the large amount of foreclosures currently listed sell and close, property values at Geddes Lake will continue to rise. The Bouma Group has listed and sold a great deal of condos at Geddes Lake and knows the complex very well. If you’d like to find out more about Geddes Lake, or the nearby Ann Arbor condos at Heritage Ridge, Oakridge, or Oslund, contact us today at 734-761-3060 or info@bouma.com. For instant listing and sold data, be sure to visit our Ann Arbor Condo Hotline!