Market Update – June 2011
Brownstone Condos is an historic building of 8 units located in the cobblestone district of downtown Ann Arbor. Popular because of their unique, period architecture, and excellent location, condominiums at Brownstone rarely come to the market. There are currently 0 units for sale and 0 have sold so far this year. In the past 5 years, 2 condos have sold.
- $311,000. 1045 square feet with 2 bedrooms and 1 full bath. Closed in 2006.
- $322,500. 1560 square feet with 1 bedroom, a study, and 2 full baths. Closed in 2007.
Downtown 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