Downtown Ann Arbor Condo Market Update: Q1 2026

The Downtown Ann Arbor condo market is springing into action, but buyers face tighter inventory than they did last year. The downtown landscape continues to evolve rapidly. City planners continue to approve new condo and apartment developments, promising fresh opportunities on the horizon.

Whether you want to buy your first downtown property or sell a luxury penthouse, understanding these shifts is crucial. Here is your complete breakdown of the Q1 2026 real estate market.

Aerial Photo of Downtown Ann Arbor from Washington Street in March 2026

The Shifting Downtown Landscape

Inventory remains a key factor this quarter. While resale options have dipped, new construction projects are stepping up to meet the high demand for downtown living.

New Construction and Future Developments

Currently, 15 new construction condos are listed in the MLS, with four already under contract. Several exciting projects recently received approval, which will significantly expand downtown housing options:

  • Braun Court: 36 luxury condos
  • 303 Detroit: 18 luxury condos
  • Dunbar Tower: 63 affordable apartments

Additionally, several major projects are currently in the planning phase:

  • 315 Huron: 285 apartments
  • 1st Street Condos: 48 condos

Active Resale Inventory Dips

The resale market is highly competitive. Right now, 19 resale listings are on the market. Eight of those are already under contract, leaving just 11 condos actively available for purchase. This represents a significant drop from the first quarter of 2025, which featured 18 available units.

Q1 2026 Closed Sales Breakdown

Nine properties successfully closed during the first quarter of 2026. Buyers acted quickly, and many units sold at or near their asking prices.

212 Miller Ave Condo Building in Downtown Ann Arbor, MI

212 Miller Avenue

Three new construction units closed in this building:

  • Unit 101: This 1,556-square-foot, 2-bedroom, 2-bath unit with a 2-car garage sold for $1,016,049.
  • Unit 103: Featuring 1,543 square feet, 2 bedrooms, 2.5 baths, and a 2-car garage, this unit sold for $1,047,760.
  • Unit 302: This spacious 2,754-square-foot condo with 3 bedrooms, 3.5 baths, and a 2-car garage sold for $2,408,292.

410 N First Condo Building in Downtown Ann Arbor

410 First Condos

  • 410 N. 1st Street #301: Originally listed for $1,359,000, the sellers adjusted the price to $1,329,000. It sold for $1,250,000 after 38 days on the market. The condo features 1,945 square feet, 3 bedrooms, 2.5 baths, and a 2-car garage.

Main on the Park aka 542-548 N Main Condo Building in Downtown Ann Arbor

542-548 N. Main Condos

  • 546 N. Main St: Listed for $1,750,000, this property sold for full price in zero days. The in-office sale required no exposure to the MLS. The condo offers 2,014 square feet, a finished basement, 3 bedrooms, 2.5 baths, and a 2-car garage.

515 N. Fifth Condos

  • Unit 1, 515 N. Fifth St: Listed for $1,790,000, this unit sold for $1,780,000 in just 8 days. It features 2,306 square feet, a finished basement, 3 bedrooms, 3.5 baths, and a 2-car garage.

Liberty Lofts Condo Building in Downtown Ann Arbor

Liberty Lofts

Two sales closed in this popular building:

  • Unit #513: This 1,382-square-foot penthouse with 2 bedrooms, 1 bath, and a 1-car garage hit the market at $740,000. It sold for full price in 11 days.
  • Unit #510: Listed by The Bouma Group for $939,000, this 1,826-square-foot penthouse (2 bedrooms, 2 baths, 1-car garage) sold for full price in exactly 1 day.

Ashley Terrace Condo Building in Downtown Ann Arbor

Ashley Terrace Condos

  • 111 S. Ashley #406: Listed for $499,900, this unit sold for $490,000 in 11 days. The condo features 803 square feet, 1 bedroom, 1 bath, and a 1-car garage.

Navigate the Market with Confidence

In a shifting market, you need the most accurate, up-to-date information to make the best financial decisions. If you are thinking of selling, current low inventory makes this an excellent time to list your property.

The Bouma Group maintains a firm grasp on the dynamics of the Downtown Ann Arbor condo market. We closely track upcoming projects and monitor incoming inventory before it hits the broader market.

We would consider it a privilege to work with you. To discuss your real estate goals, call our office at 734-761-3060. You can also visit us at our downtown location at the corner of S. Main and Madison. For real-time updates on the Ann Arbor condo market, check out condohotline.com or bouma.com.