A Balanced Market for Ann Arbor Condos

When looking at the above graph, the overall Ann Arbor Condo market has stayed pretty steady when compared to last month. It has also remained in a buyer's market with a 6.7 months supply of units available. The Bouma Group has worked hard to become Ann Arbor's #1 Condo seller! Contact us at 734-761-3060 to learn more about the current condo market and how we can help find the perfect place for you. Thinking of selling? We know the real estate market inside and out and offer the best in seller services!

Posted Wednesday, May 16, 2012 by Martin Bouma
Tags: Ann Arbor Condos, downtown ann arbor condos, Ann Arbor Condominium, Ann Arbor Market Statistics

Ann Arbor Condos Are In A Balanced Market

For more information on these statistics, or how prices are faring in your particular Ann Arbor Condo complex, contact The Bouma Group today at 734-761-3060 or info@bouma.com. We track all statistics and know Ann Arbor condominium trends, including: price point, downtown Ann Arbor condos, specific neighborhoods, and more!

Posted Wednesday, March 14, 2012 by Martin Bouma
Tags: ann arbor condo , Ann Arbor Condos, downtown ann arbor condos, Ann Arbor Condo Market Statistics, Ann Arbor Condominium

Comparing the 4th quarter of 2010 with that of 2011, the downtown Ann Arbor condo market has basically stayed unchanged. There were 8 condo sales and 3 rentals in 2010, versus 7 sales and 4 rentals this year, not including Tower Plaza. Of the 7 sales, 2 were sold by the developer, 1 was a bank sale, and 4 were traditional sales. Of those 4, the change in value from when the sellers purchased until they sold, ranged from a loss of 5.4% for a unit purchased in 2008 to a gain of 46% for a unit purchased in 1989.

Helping prices to remain steady is that Ashley Terrace, which had gone into foreclosure with Bank of America, was sold to Alidade Capital Fund LP for $6,000,000. The purchase of the condo building included 29 unsold condos from the original construction of the building. There was major concern, prior to the sale, that whoever purchased the building would offer the unsold condos at rock bottom prices, resulting in depressed values for downtown Ann Arbor. Fortunately, the purchasers have taken advantage of the strong rental market by only listing a few condos at a time, at fair market value, and renting the balance until sold.

An extremely large demand and the high prices that tenants are willing to pay for condo rentals in downtown Ann Arbor has been a big trend. A unit was rented for the highest price ever paid, $4,500 for a penthouse at Ashley Mews in Syndeco Plaza. Just in our office alone, we have a number of tenants who are willing to pay in the $4,000 - $5,000/month for a downtown condo, so the demand is very high for good rental properties.

Currently there are 18 condos in downtown Ann Arbor for sale, excluding Tower Plaza, and only 2 rentals available. As we head into spring, the demand for well maintained and well priced condos will remain strong. Here at The Bouma Group, we will be keeping a close eye on the downtown condo market as it continues to recover. Click here to download the full 4th Quarter Downtown Ann Arbor Condo report. Should you be interested in purchasing, selling, or renting your downtown condo, contact me today at 734-761-3060 or info@bouma.com.

Posted Wednesday, March 07, 2012 by Martin Bouma
Tags: Ann Arbor Condominiums, downtown ann arbor condos, downtown ann arbor condo trends, Ann Arbor Condo Market Statistics

Ann Arbor Sees Increase in Condo Inventory

Ann Arbor Condo inventory is beginning to rise for the first time in months. Beat the spring rush and get your condo listed for sale now! The Bouma Group tracks all statistics for Ann Arbor condos, including Downtown Ann Arbor Condos, Ann Arbor Lofts, specific complexes, price points, and we know all trends - so if you're considering purchasing or selling a condo in Ann Arbor, give us a call for the latest data at 734-761-3060 or info@bouma.com. Have you checked out Ann Arbor's Condo Hotline yet? View real-time active listings and recent sold information, by-laws, floor plans, photos and more!

Posted Saturday, February 11, 2012 by Martin Bouma
Tags: ann arbor condo , market update, Ann Arbor Condos, Market Statistics

Inventory Down for Ann Arbor Condos

Ann Arbor Condo inventory is very low right now, making this the perfect time to get your unit listed for sale! The Bouma Group tracks all statistics for Ann Arbor condos, including Downtown Ann Arbor Condos, Ann Arbor Lofts, specific complexes, price points, and we know all trends - so if you're considering purchasing or selling a condo in Ann Arbor, give us a call for the latest data at 734-761-3060 or info@bouma.com. Have you checked out Ann Arbor's Condo Hotline yet? View real-time active listings and recent sold information, by-laws, floor plans, photos and more!

Posted Wednesday, January 11, 2012 by Martin Bouma
Tags: Ann Arbor Condos, downtown ann arbor condos, Ann Arbor Condo Market Update, Ann Arbor Condo Market Statistics, Downtown Ann Arbor Lofts, Ann Arbor Condo Complexes, Ann Arbor Condo Seller, Ann Arbor Condo Buyer