Based on the month's supply of units, the Ann Arbor Condo market, in general, is holding steady and is considered a balanced market. This is mainly because condos under $200k are in a sellers market, especially condos under $100k which have only a 2 months supply. The $200k-$300k market is considered to be in a buyers market, with an 8.6 months supply. Once you get into the over $500k market, things drastically change to a complete buyers market and only 4 units have sold in this price range in the last year. The rental market is very strong, as sellers are choosing to rent their units and are very successful with this. The months supply is at a very low 1.3.



Although inventory is considered to be low, in order to sell Ann Arbor area condos still have to be in excellent condition and priced competitively Even with limited choices, buyers are not willing to make compromises. With so many condo owners being upside down on their mortgage, I see the market inventory remaining tight for the foreseeable future with many choosing to rent out their units instead of sell.

In the real estate market, if there is less than a 5 months supply of condos on the market, you are in a seller's market. A 5-7 month supply of condos is a balanced market. Anything over 7 months is a buyer's market.

Check back here each month for a new market update, and as always, if you'd like to find out more details about your Ann Arbor Condo community, give us a call at 734-761-3060 today!

Posted Friday, February 25, 2011 by Martin Bouma
Tags: market update, Ann Arbor Condos, Ann Arbor Condominiums, Market Statistics

To be held:

March 23, 2011 at 7PM

 

Real Estate investment can be a solid plan for wealth building for you and your family. In 2010, almost one third of all real estate sales were investment properties or second homes. We want to share our knowledge of real estate investing with you, so you can take advantage of the wonderful opportunities currently available.

 

Martin Bouma, Ann Arbor Real Estate Specialist, and Ann Arbor's top Realtor, will be teaching from Gary Keller's book "The Millionaire Real Estate Investor".  Here, you will learn how various investors' proven and tested investing models have worked. We will also be providing strategies and tools to begin your journey to building your own real estate investment portfolio.

 

All attendees will receive a copy of Gary Keller's book "The Millionaire Real Estate Investor".

 

To find out more about this informative seminar, contact us today at 734-761-3060 or info@bouma.com. Or, sign up here to reserve your spot now!

Posted Sunday, February 06, 2011 by Martin Bouma
Tags: ann arbor property investment