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Geddes Lake, Ann Arbor Condo Market Update

Geddes Lake Condo Market Report – February 2017Geddes Lake Condos, Ann Arbor MI 48105

There are currently 4 condos listed for sale at popular Geddes Lake and last year, 29 condos sold.

Condos for Sale:

  • $219,900.  745 Skynob, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $219,900.  623 Watersedge, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths. Sale Pending
  • $219,000.  729 Skynob, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths. Sale Pending
  • $199,000.  798 Peninsula Ct., Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths. Sale Pending

Sold Condos:

  • $225,900.  799 Skynob, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $218,000.  773 Peninsula Ct., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $215,500.  683 Skynob, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $210,000.  3025 Lakehaven, Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $207,000.  3041 Lakehaven, Ann Arbor. 1208 square feet with 2 bedrooms and 1.1 baths.
  • $205,000.  628 Peninsula Ct., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $199,000.  674 Peninsula Ct., Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths.
  • $195,000.  731 Skynob Ct., Ann Arbor. 1516 square feet with 3 bedrooms and 2.1 baths.
  • $192,000.  659 Watersedge, Ann Arbor. 1152 square feet with 2 bedrooms and 1.1 baths. Listed by The Bouma Group
  • $185,000.  738 Watersedge, Ann Arbor. 1208 square feet with 2 bedroom and 1.1 baths.
    • For a complete list of sold condos, contact us at 734-761-3060

In 2015, 28 condos sold with an average sale price of $168,014 and an average price per square foot of $131.00. The 29 units sold in 2016 had an ASP of $185,045, up 10%, and an A$SF of $145.00, up 11%. Values here continue to rise and the ASP is up 89% compared with the low in 2008 of $97,747. View more market statistics, plus photos, amenities, current listings and more for Geddes Lake here! And if you have any questions or would like to learn more about listing your Ann Arbor Condo, contact the real estate specialists with The Bouma Group today at 734-761-3060 or email info@bouma.com today.

Ann Arbor Condo Market Update – October 2016

Higher Priced Condos are Selling

Ann Arbor Condo Market Statistics for October 2016
Ann Arbor Condos in the higher price ranges have been selling fairly quickly this year. In the $500,000-$1,000,000 price range, of the 13 condos listed for sale, 7 are new construction and 6 of those are under contract with a buyer. Typically the higher price points are slower to sell, but there have been 23 sales year-to-date and it is a balanced market with a 6.8 month supply. The overall condo market is faring well, with 585 units selling year-to-date, compared with 546 this time last year. The average sale price has increased 10% to $225,800. It remains a seller’s market with a 2.5 month supply of condo listings.

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How Are Downtown Ann Arbor Condo Values Faring?

Ashley Mews Downtown Ann Arbor CondosDowntown Ann Arbor Condominiums offer a variety of urban living experiences and are a popular choice for many types of buyers. Like most Washtenaw County Real Estate, Downtown Ann Arbor condo values have decreased, but as with Ann Arbor homes, they appear to be on the rise once again. 2009 was a low for the total number of units sold, average sales price, and price per square foot. But, in 2010 we saw an increase of 71% in number of units sold, an increase of 11% in average sales price, and an increase of 5% in average price per square foot. So far in 2011, 15 condos have sold with an average sales price of $294,469 and average price per square foot of $229.35. The highest selling condo price was $540,000, $261.88/square foot, for an Ashley Mews brownstone with 2466 total square feet, 3 bedrooms and 2.1 baths. The lowest priced unit was a studio-style Riverhouse condo that closed for $67,000, $146.29/square foot, and had 458 square feet with 1 full bath. Continue reading