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Tag Archives: Ann Arbor Condo Market Report

Ann Arbor Condo Market Report – Summer 2017

Sale Prices Soar for Ann Arbor Condos

Ann Arbor Condo Statistics for August 2017 and Second Quarter

When comparing Ann Arbor condo data year-to-date through August of 2016 to that of 2017, little has changed, except in one very important area. The number of new listings that came to the market was 552 in 2016 and 550 this year, basically the same, as with the number of sales, 455 vs. 447. However, the average sale price of Ann Arbor condos has skyrocketed from $203,743 YTD in 2016 to $252,547 this YTD, an increase of $24%!  The low supply is keeping demand high, which is raising the average sale price. This is also apparent in the average days on the market which has decreased from 31 to 27. Once we see inventory begin to rise, prices will level out. Continue reading

Ann Arbor Condo Market Update – August 2016

Condo Sales Strong as Summer Comes to an End

Ann Arbor Condo Statistics for August 2016
Ann Arbor condo sales in August increased significantly when compared with August of last year. According to the Ann Arbor Area Board of Realtors, condo sales were up 38% with 125 units closed for the month, compared with only 90 sales the previous August. Inventory remains virtually the same and it continues to be a seller’s market with a 3.1 month supply of condos listed for sale. The average sale price also increased and is at $208,113, up 8%.

It was a very busy summer and we anticipate a steady fall season as well. If you are thinking of selling in the near futures and would like to know what your unit is worth, give us a call at 734-761-3060. Want to know more about the different complexes in the area? View all Ann Arbor Condos here!

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Dexter Real Estate Market Update – Second Quarter 2016

Sales Up for Dexter Real Estate

Dexter Real Estate Market Update for the Second Quarter 2016
When compared with this time last year, sales are up year-to-date for Dexter Real Estate. There have been 143 sales so far in 2016, according to the Ann Arbor Area Board of Realtors, with an average sale price of $337,498. In 2015 there were 123 sales, with an ASP of $332,080, putting the number of sales up by 16% and the ASP up by 2%. The number of new listings year-to-date is virtually the same – 247 vs. 248. It is just barely a balanced market with a 7 month supply of homes listed for sale.

Dexter tends to see the real estate peak in June and July, but sales continue through the rest of the year. If you’re planning on listing your Dexter home, but think it may be too late in the season – it isn’t! Contact The Bouma Group, Realtors today at 734-761-3060 or info@bouma.com to learn what your home is worth in today’s market. Want to know what’s selling in your neighborhood? Find out in a Market Trend report!

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Nielsen Square, Ann Arbor Condo Report

Nielsen Square Condo Report – April 2014Nielsen Square Condos, Downtown Ann Arbor MI

Nielsen Square Condos have a terrific downtown Ann Arbor location within walking distance of the University of Michigan medical campus and north campus. There are currently 2 units listed for sale and so far this year, 2 have sold.

Condos for Sale:

  • $335,000.  1149 Freesia Court, Ann Arbor. 1879 sq. ft. +77 in lower level, 2 bedrooms and 2 baths. Contract Pending
  • 262,399.  1123 Freesia Court, Ann Arbor. 891 sq. ft. +341 in lower level, 2 bedrooms and 1.1 baths. Contract Pending

Sold Condos:

  • $311,500.  1137 Freesia Court, Ann Arbor. 1879 sq. ft. +77 in lower level, 2 bedrooms and 2 baths. Sold by The Bouma Group
  • $265,000.  1053 Maiden Lane, Ann Arbor.  891 sq. ft. +341 in lower level, 2 bedrooms and 2 baths.

Last year at Nielsen Square, 3 condos sold with an average sale price of $273,333 and average price per square foot of $195.00. The 2 sales so far this year have an ASP of $288,250, up 5%, and A$SF of $232.00, up 19%. Condo values are really rebounding, especially in the downtown area, and as you can see by the high activity already, units are moving quickly. To learn more about Nielsen Square or to get instant notification of new listings, contact the Ann Arbor Condo specialists with The Bouma Group at 734-761-3060 or email info@bouma.com today!

 

Ann Arbor Condo Market Update – February 2014

Ann Arbor Condo Listings Finally Increasing

Ann Arbor Condo Statistics for February 2014
After experiencing a steady decline in listings from the peak last May, the Ann Arbor Condo market is finally seeing a rise in inventory. Compared with February 2013, the number of listings has grown by almost 8%. While that’s not a huge increase, it’s a good start and hopefully a sign that as the spring market begins, more condos will be listings to help satisfy the large buyer demand. Overall, Ann Arbor is in a seller’s market with a 3.2 month supply of condos, and only the over $500k price range is in a buyer’s market.

It is shaping up to be a busy spring condo market and once the weather warms up, we are expecting listings and sales to better than we’ve experienced in a while. Continue to check back here for more updates on Ann Arbor as a whole and for particular condo complexes. Here at The Bouma Group, we’ve sold more condos than any other agent for the past 15 year and know this market better than anyone!

Ann Arbor Condo Market Update – November 2013

Ann Arbor Condo Sales Begin to Slow

Ann Arbor Condo Real Estate Statistics for November 2013
As the colder weather sets in, we are beginning to see Ann Arbor Condo sales slow a bit. While sales are up 10% when compared with last year, they are at the lowest point for 2013 with 576 condos sold in the past 12 months. Overall, it continues to be a seller’s market with a 3 months supply of units available. The over $500k price range is in a buyer’s market, as it typically is. Condo inventory tends to peak in May, so if you’ve been thinking of selling, beat the crowd and consider getting it listed right after the holidays.

Wondering what your condo is worth? Contact us for a FREE market analysis and see what units in your complex are selling for. Ann Arbor Condo values really rose last year and your home may be worth more than you think. The Bouma Group has been the #1 condo seller for more than 15 years and knows this market better than anyone! Contact us today at 734-761-3060 or email info@bouma.com for more information on this report. Search the MLS for condos here.

Eagle Ridge, Ann Arbor Condo Report

Ann Arbor Condo Report – February 2013Eagle Ridge Condos, Ann Arbor View Across Pond

Eagle Ridge Condos, on Ann Arbor’s west side, currently has no units listed for sale and in 2012, 2 units sold.

Sold Condos:

  • 2152 Pennsylvania, Ann Arbor. $141,000. 1156 square feet with 2 bedrooms and 2.1 baths.
  • 2155 Pennsylvania, Ann Arbor. $155,000. 1614 square feet with 3 bedrooms and 2.1 baths.

In 2011, 2 condos sold with an average sale price of $139,650 and average price per square foot of $93.81. Both of these averages rose in 2012: 2 condo sales with an ASP of $148,000, up 6%, and an A$/SF of $109.00, up 16%. Interested in other Ann Arbor Condos? View a complete list here, along with updated statistics! Condo prices are beginning to rise, but are still at lower prices making it a great time to purchase as a residence or investment property. For more information, contact The Bouma Group today at 734-761-3060 or info@bouma.com.

Ann Arbor Condo Market Update – October 2012

A Seller’s Market Continues for Ann Arbor Condos

Ann Arbor Condominium Statistics for October 2012

Ann Arbor Condos continue to be in a seller’s market with a 3.5 month supply of units available for sale. Sales for the past 12 months are at an all time high with 600 condos sold and inventory is at a low with only 177 units listed.

What 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!

Laurel Gardens, Ann Arbor Condo Market Update

Ann Arbor Condo Update – September 2012Laurel Gardens, Ann Arbor MI Condos

At Laurel Gardens there are currently 2 units listed for sale and so far this year, 3 units have sold.

Condos for Sale:

  • 4738 Bayberry Circle, Ann Arbor. $279,900. 2142 square feet with 2 bedrooms and 2.1 baths. Listed by The Bouma Group
  • 1274 Pepperidge Way, Ann Arbor. $315,000. 1947 sq. ft. +1300 in finished lower level, 3 bedrooms and 3.1 baths.

Sold Condos:

  • 4707 Bayberry Circle, Ann Arbor. $253,000. 1542 square feet with 2 bedrooms and 3 baths.
  • 4738 Bayberry Circle, Ann Arbor. $260,000. 2142 square feet with 2 bedrooms and 2.1 baths. Sold by The Bouma Group
  • 4687 Mulberry Woods Circle, Ann Arbor. $267,500. 1817 square feet with 3 bedrooms and 2.1 baths.

Last year at Laurel Gardens, 3 condos sold with an average sale price of $267,833 and average price per square foot of $131.85. The 3 units that have sold this year have an ASP of $260,166 (down slightly) and the A$/SF is up almost 10% to $144.23. To learn more about values at Laurel Gardens, contact the Ann Arbor Condo specialists with The Bouma Group at 734-761-3060 or email us at info@bouma.com. And for instant listing and sold data, plus floor plans, by-laws and more, check out the Ann Arbor Condo Hotline here!

 

Laurel Gardens Condos, Ann Arbor Real Estate Report

Ann Arbor Condo Update – November 2011Laurel Gardens Condos, Ann Arbor MI

Laurel Gardens, Ann Arbor is a moderate sized complex of spacious condos in a beautiful setting. Many units view Matthaei Botanical Gardens. There are currently 2 condos listed for sale and so far this year, 2 condos have sold.

Condos Listed:

  • $299,000. 2142 square feet with 2 bedrooms and 2.1 baths.
  • $299,900. 2077 square feet with 3 bedrooms and 2.1 baths.

Condos Sold:

  • $265,000. 2077 square feet with 3 bedrooms and 2.1 baths.
  • $270,000. 1947 square feet with 3 bedrooms and 2.2 baths. Listed by The Bouma Group

Last year at Laurel Gardens, 4 condos sold with an average sale price of $285,000 and average price per square foot of $147.50. Prices have slightly decreased this year and less units have sold, which is a trend amongst most Ann Arbor Condos. To learn more about Laurel Gardens, or nearby The Arbors, The Ridge, or Earhart Village, contact the real estate specialists at The Bouma Group today, they know the Ann Arbor condo market better than anyone! To view floor plans, photos, by-laws and up-to-date listing and sold data, check out our Ann Arbor Condo Hotline – Washtenaw County’s #1 source for condo information!