What Should You Know About Condo Inspections in Ann Arbor?

Priced Out of the Market? A Condo or Townhome Could Be Your Way In

Today’s home prices have a lot of buyers, especially first-time buyers, wondering if there’s even anything out there that’s in their budget. But owning a home may be more within reach than you think. Sometimes, it just means considering a different type of home.

Condos and townhomes can be a great way to buy without stretching every last dollar. And right now, two things make them worth a serious look.

There Are More Condos and Townhomes To Choose From

Maybe you feel like there’s just nothing out there for you, and you’ve exhausted all your options. But have you considered condos or townhomes? A lot of buyers start by looking for a single-family, detached home without even realizing what that search omits from their pool of choices.

According to HousingWire Data, nationally there were 233,030 condos and townhomes for sale this June. That’s more than any June in at least the past decade, and more than double the number available back in 2022 (see graph below):

That means there are more options out there in this segment of the market, and that’s especially good news for first-time buyers. These types of homes can be a great way to break into the market for less.

Just remember, that’s the national number. What’s available will depend on where you’re looking. But generally speaking, more options means less competition, more time to decide, and more room to negotiate.

What’s Happening with Ann Arbor Condos

Good news if you’re shopping for a condo in Ann Arbor: the market is opening up in your favor. Through the end of July, new listings climbed to 594 in 2026 from 563 last year, giving you more choices to explore. At the same time, pending sales eased to 343 (down from 389) and closed sales dipped to 345 (from 359), while homes now sit for 49 days on average versus just 29 a year ago. With median prices sliding slightly to $335,000 from $340,000, this shift toward more supply and a calmer pace means you have room to compare options, negotiate with confidence, and lean on expert guidance to find the right fit.

They Also Tend To Cost Less Than Single-Family Homes

Price is the other big draw. According to the National Association of Realtors (NAR), the median condo price was $380,000 in June. In contrast, the median single-family home price was $446,400 (see graph below):

That’s a difference of more than $66,000.

A big reason why? Condos are usually smaller than single-family homes. And smaller homes can come with smaller price tags.

And if you don’t need all that extra space, that lower entry price could be exactly what gets you through the door.

What’s Happening with Condos vs. Homes in Ann Arbor

Here’s where the numbers get exciting for anyone eyeing an entry into the Ann Arbor market: through July 2026, the median home sold for $586,500 while the median condo came in at $335,000, a gap of over $250,000. That difference carries into averages too, with homes at $678,466 versus $448,299 for condos. Even a year ago, Ann Arbor condos began experiencing more price reductions. For you, this means a condo can be a smart, more accessible way to plant roots in a neighborhood you love, without stretching your budget to single-family territory. With expert Realtor guidance and clear market insights on your side, you can turn that price advantage into a vibrant, low-maintenance lifestyle right where you want to be.

Condo or Townhome? How They’re Different.

For buyers who feel priced out of the market, a condo or townhome could be a way in. But there are some things to know. Before you start checking out homes, it’s good to understand how these two compare to each other, and to a single-family home.

• With a single-family detached home, you own the house and the land it sits on, and you don’t share any walls with neighbors. That means the most space and privacy. But it also usually comes with a higher tag, and all the maintenance is on you.
• With a townhome, typically you own the building you live in and the lot it sits on. They’re usually multi-level, so you get more space, and you share two walls at most. You’ll also have more say over how your home looks and how repairs get done, but more of that upkeep falls on you.
• With a condo, you own just the inside of your unit and may have access to community features like a pool or gym. The building and shared space belong to everyone who lives there, which means you have less maintenance responsibilities. But you’ll also likely have more neighbors around you, less control over building decisions, and higher HOA fees since the HOA handles the exterior and common areas.

Bottom Line

Ready to make your move in Ann Arbor? A condo or townhome could be your path to owning a home without blowing your budget. The Bouma Group, Realtors knows this market inside and out, from the walkable downtown condos to the tucked-away neighborhoods you’ll love calling home. Our team pairs deep local expertise with personalized guidance, listening to your budget, your must-have features, and the lifestyle you’re after, then matching you with properties that truly fit. Whether you’re drawn to low-maintenance condo living or a place with a little more room to grow, we’ll walk you through financing options, honest market insights, and every step in between so you feel confident from first tour to closing day.

Let’s find the right spot for you together, reach out today at 734-761-3060 or info@bouma.com. Let’s turn your Ann Arbor plans into keys in your hand.

Ann Arbor Condo Sales: H1 2026 Market Highlights

Quick answer: Ann Arbor’s condo market saw 282 sales in the first half of 2026, with prices ranging from $140,000 to $2,438,254. The average sale price came in at $441,625, while the median settled at $335,000. Condos that sold within 30 days averaged 99.74% of their original list price, reflecting strong demand across the market.

The Ann Arbor condo market delivered a wide range of opportunities in the first half of 2026. We saw compact, affordable units to stunning downtown residences that rival the finest homes in the area. Whether you’re a first-time buyer searching for an entry point into the market or a seasoned investor eyeing a luxury property, understanding how the market performed across all price points gives you a meaningful edge.

This post breaks down the H1 2026 Ann Arbor condo market by spotlighting the least expensive, median, average, and most expensive condos sold. We’ll also unpack the numbers behind days on market, sale-to-list price ratios, new construction trends, and resale activity—so you walk away with a clear, data-backed picture of where the market stands right now.

The Bouma Group tracked every detail of these 282 transactions closely, having listed 14 and sold 15 of these condos ourselves. Here’s what the data tells us.

The Least Expensive Condo Sold in Ann Arbor: 4214 Packard St #2

At $140,000, 4214 Packard St #2 in the Arbor Heights complex represents the most affordable entry point into Ann Arbor condo ownership during the first half of 2026. This 591-square-foot, 1-bedroom, 1-bathroom unit proves that owning in Ann Arbor doesn’t have to be out of reach.

Compact and efficiently designed, this type of unit typically attracts first-time buyers, students, and investors looking to build equity or generate rental income in a city consistently ranked among the best places to live in Michigan. At just under $237 per square foot, it’s a reminder that value still exists in this market.

The Median-Priced Condo Sold in Ann Arbor: 531 Liberty Pointe Drive

The median sale price of $335,000 is represented by 531 Liberty Pointe Drive in the Liberty Pointe community. This townhouse-style condo that sold right at the midpoint of the H1 2026 market. With 1,378 square feet on the main levels plus an additional 626 square feet of finished lower level, this 2-bedroom, 3 full bath + 1 half bath home offers space and flexibility.

This property was listed by The Bouma Group, and its sale at the median price reflects our team’s deep familiarity with pricing strategy and market positioning across Ann Arbor’s condo segment.

Townhouse-style condos like this one are especially popular with buyers who want the feel of a single-family home with a private entry, multiple levels, more square footage, without the maintenance responsibilities that come with owning a stand-alone property. At $335,000, this sale lands squarely in the heart of Ann Arbor’s condo demand.

The Average-Priced Condo Sold in Ann Arbor: 431 S. 7th St

The average sale price for H1 2026 is represented by 431 S. 7th St. Like the median property, this is a townhouse-style unit. It offers 1,056 square feet of living space plus 454 square feet in the finished lower level. It featured 3 bedrooms, 1.5 bathrooms, and an attached garage.

The gap between the median ($335,000) and the average ($441,625) is worth noting. It signals that higher-priced sales, particularly in luxury and new construction, are pulling the average upward. We consistently see this in the Ann Arbor condo market, where a cluster of premium transactions at the top end of the market has an outsized effect on the mean.

Understanding this distinction helps buyers and sellers alike interpret market data more accurately. The median often tells a more grounded story about typical buyer activity.

The Highest-Priced Condo Sold in Ann Arbor: 303 Detroit St #402

The standout transaction of the first half of 2026 was 303 Detroit St #402, which closed at $2,438,254. It was the highest condo sale price in Ann Arbor during the first half of 2026.

Located in the heart of the Kerrytown district, this 2,635-square-foot residence features 4 bedrooms and 4 bathrooms, and has been described as an exceptional unit with numerous custom finishes and upgrades. Kerrytown is one of downtown Ann Arbor’s most sought-after neighborhoods, offering walkable access to the Ann Arbor Farmers Market, boutique shops, acclaimed restaurants, and the broader downtown core.

At just over $925 per square foot, this sale is a benchmark for Ann Arbor’s luxury condo market. It shoes that demand at the top end of the market remains robust and that buyers are willing to pay a significant premium for location, quality, and craftsmanship.

Ann Arbor Condo Market Statistics: Days on Market and Sale-to-List Price Breakdown

The average of 44 days on market across all 282 sales requires some important context. New construction condos, which typically carry longer marketing timelines due to pre-sale and build phases, skew this figure higher. When you remove new construction from the equation, resale condos averaged just 38 days on market.

The sale-to-list price data tells an equally compelling story about the relationship between timing and pricing power:

• 0–30 days on market: 180 sales at an average of 99.74% of original list price
• 31–60 days on market: 33 sales at an average of 95.89%
• 61–90 days on market: 25 sales at an average of 95.41%
• 91–120 days on market: 20 sales at an average of 93.32%
• 121+ days on market: 24 sales at an average of 93.22%

The takeaway is clear: condos priced accurately from the start sell quickly and close near full price. Properties that linger on the market see meaningful price concessions which sometimes exceeded 6% off the original list price. For sellers, precision pricing at the beginning is necessary. For buyers, extended market time can signal negotiating room.

How Did Ann Arbor’s Luxury Condo Market Perform?

Sixteen condos sold for over $1,000,000 in the first half of 2026, confirming that Ann Arbor’s luxury condo segment is an active and established part of the market.

Of the 20 new construction condos that sold during this period, 10 were priced over $1 million. New construction sales naturally carry longer days-on-market figures. Pre-sale timelines, construction completion schedules, and buyer decision cycles all extend the process. This is the primary reason the overall average DOM is higher than the resale market experience would suggest.

Buyers pursuing new construction should anticipate this extended timeline and factor it into their planning. For those comparing new construction to resale, it’s also worth evaluating the total cost of customizations and finishes, which can add significantly to the final sale price, as seen with 303 Detroit St #402.

Resale Condo Market Insights for Ann Arbor

The resale segment accounted for 213 of the 282 total condo sales in H1 2026. With an average DOM of just 38 days, resale condos moved efficiently through the market, a reflection of steady buyer demand and relatively constrained inventory.

Resale buyers benefit from the ability to see a finished, occupied product, often with established HOA track records and known maintenance histories. For sellers in the resale market, the data reinforces the value of strategic pricing and preparation. The condos that sold fastest and closest to asking price were those that entered the market priced competitively from day one.

Across the board, the resale market showed healthy activity, which speaks to Ann Arbor’s unique position as a stable, high-demand real estate market anchored by the University of Michigan and a strong employment base.

What the H1 2026 Data Means for Ann Arbor Condo Buyers and Sellers

The first half of 2026 reinforced several patterns that both buyers and sellers should factor into their strategies.

For buyers: Speed matters. The majority of condos that sold in 30 days or fewer went for essentially full asking price. Buyers who are pre-approved, decisive, and working with experienced local agents are consistently better positioned to compete. Waiting for price reductions is a valid strategy for properties that have been sitting, but the best units rarely sit.

For sellers: An accurate list pricing is the most powerful tool at your disposal. Condos priced right sell fast and for close to full price. Those that miss the mark early lose momentum and ultimately net less.

For the market overall: With 282 sales, 16 luxury transactions, and a resale market averaging 38 days on market, Ann Arbor’s condo segment is performing with consistency and depth. The price range $140,000 to $2,438,254 reflects a market that serves diverse buyer profiles, from first-time purchasers to high-net-worth buyers seeking premium downtown residences.

Ready to Buy or Sell an Ann Arbor Condo? Contact The Bouma Group

The Bouma Group listed 14 and sold 15 of the condos that transacted in the Ann Arbor market during H1 2026. That level of involvement isn’t coincidental, it’s the result of years of focused expertise, an extensive buyer network, and a deep understanding of how Ann Arbor’s condo market operates at every price point.

If you’re thinking about buying or selling a condo in Ann Arbor, we’d love to put that expertise to work for you. Reach out to The Bouma Group today to discuss current market conditions, available listings, and how we can help you make the most of your next move.

📞 734-761-3060
🌐 www.bouma.com
📧 info@bouma.com

Secure Your University of Michigan Student’s Ann Arbor Condo: Why Early Planning Pays Off

Your Guide to Buying a University of Michigan Condo for Fall

Fall classes at the University of Michigan might seem months away, but the timeline to secure the perfect student housing is much shorter than you think. If you plan to buy a condo for the upcoming academic year, waiting until summer will leave you scrambling. The Ann Arbor real estate market moves quickly, and the best properties go to buyers who prepare early.

By starting your preparations right now, you position yourself to grab the ideal property as soon as it hits the market. This guide covers why early preparation matters, what the upcoming spring market means for your search, and the exact steps you need to take to get ready.

Why You Need to Prepare Now

Securing a condo before the fall semester requires a strategic head start. Real estate transactions take time. Between getting pre-approved for a mortgage, hunting for the right property, negotiating an offer, and closing the deal, the entire process can take several months.

If you wait until June or July to start looking, you risk running into tight deadlines. A delayed closing could mean paying for a temporary hotel or moving belongings multiple times. By starting your preparations now, you give yourself a comfortable buffer to handle any unexpected delays. You also give yourself the luxury of time to explore different neighborhoods, compare building amenities, and make an informed decision without the pressure of a looming move-in date.

The Spring Market Advantage

The real estate market operates on a distinct seasonal cycle, and Ann Arbor is no exception. While the winter months usually see lower inventory, the spring market is right around the corner. Spring is traditionally the busiest time for real estate, bringing a surge of new condo listings to the area.

Many current students and property owners wait until the end of the academic year approaches to list their condos. This means a wave of fresh inventory will hit the market soon. If you have your finances and strategy organized before this influx of properties arrives, you can act immediately when the right condo becomes available. Buyers who wait until the spring to begin their preparations often miss out on the best units because other, more prepared buyers beat them to the punch.

Steps to Get Ready for Your Condo Search

Taking action now ensures you are ready to strike when the spring inventory arrives. Follow these essential steps to set yourself up for a successful purchase.

1. Organize Your Finances

Your first step is understanding your buying power. If you plan to finance the condo, connect with a mortgage lender to get pre-approved. A pre-approval letter shows sellers that you are a serious, qualified buyer, which is crucial in a competitive market.

If you plan to pay in cash, gather your proof of funds. You should also outline your budget for closing costs, homeowners association (HOA) fees, property taxes, and potential renovations or furnishings. Knowing your exact budget helps narrow down your search and prevents you from falling in love with a property outside your price range.

2. Define Your Must-Haves

Sit down with your student and determine what features are most important. Consider how close the condo needs to be to specific campus buildings, the medical center, libraries, or bus routes. Think about the building amenities that matter most. Do you need secure parking, on-site laundry, or a fitness center?

Make a list of non-negotiable features and a separate list of nice-to-have bonuses. This clarity will make your property search much more efficient and help your real estate agent find the best matches for your needs. Check out our condo complex map.

3. Partner with a Local Expert

Navigating the Ann Arbor condo market requires insider knowledge. You need a real estate partner who understands the nuances of different condo communities, the rules of local HOAs, and the true market value of these properties. Connecting with an agent now allows them to start monitoring the market on your behalf and alert you the moment a suitable property is listed.

The Bouma Group Difference

When it comes to the downtown Ann Arbor condo market, no one knows it better than The Bouma Group, Realtors. We have decades of experience helping parents and students find the perfect home base near the University of Michigan.

We understand the unique needs of student housing and the specific dynamics of the local market. Our unparalleled expertise means we can guide you toward the best investments, negotiate strongly on your behalf, and ensure a smooth closing process before the fall semester begins. We keep our finger on the pulse of the market so you never miss an opportunity.

Get Started Today

The spring market will be here before you know it. Take the stress out of your fall housing search by taking the first step today.

Contact us at The Bouma Group, Realtors to request our latest condo report and discuss your specific needs. Reach out to us at 734-761-3060 or email us at info@bouma.com. Let our team help you secure the ideal Ann Arbor condo so you can focus on a successful academic year ahead.

Ann Arbor Condo Market Review 2025: Sales & Statistics

2025 has been another dynamic year for real estate in Tree Town! The Ann Arbor condo market displayed incredible variety, offering everything from efficient starter units to luxurious downtown penthouses. Whether you are a first-time buyer looking to put down roots or a seasoned investor seeking a luxury property, the 2025 numbers tell a compelling story of a vibrant and active community.

We saw a total of 565 condos sold throughout the year, with properties moving at a brisk pace. If you are curious about what your money could buy in 2025, or simply love keeping a pulse on local real estate trends, we have broken down the defining sales of the year. Let’s dive into the specifics of the lowest, median, average, and highest-priced condos sold in Ann Arbor.

A Look at the Extremes: Highs and Lows

The range of options in Ann Arbor is vast. To illustrate the full spectrum of our local market, let’s examine the entry-level options alongside the absolute peak of luxury living.

Lowest Priced Sale: Value at Independence Condos

Affordability is still possible in Ann Arbor if you know where to look. The lowest-priced sale of the year was located at 2411 Packard St 51E within the Independence Condos community.

This unit offered a great entry point into homeownership:

• Sold Price: $103,500 (Listed at $115,000)
• Size: 896 square feet
• Layout: 2 bedrooms, 1 bathroom
• Speed: Sold in just 4 days

Despite the lower price point, this condo moved incredibly fast, spending less than a week on the market. It proves that well-priced inventory at any level attracts immediate attention from buyers.

Highest Priced Sale: Luxury at N Fourth Condos

On the other end of the spectrum, we saw stunning luxury sales. The crown jewel of 2025 was 401 N 4th Avenue, a magnificent residence at N Fourth Condos right in the heart of Downtown Ann Arbor.

This property commanded a premium price for its prime Kerrytown location and expansive layout:

• Sold Price: $2,150,000 (Sold significantly over the $1,985,000 list price)
• Size: 2,543 square feet
• Layout: 2 bedrooms, 2.5 bathrooms
• Speed: Sold in just 7 days

The fact that this unit sold for $165,000 over the asking price in just one week highlights the intense demand for high-end, downtown living spaces.

The Market Core: Median and Average Sales

While the extremes grab headlines, most activity happens in the middle. Here is a look at the properties that represented the “typical” Ann Arbor condo transaction in 2025.

Median Priced Sale: Weatherstone Condos

The median price represents the exact middle of the market. For 2025, the median sale was 1659 Coburn Drive at the popular Weatherstone Condos. We were proud to list this property at The Bouma Group!

This sale perfectly represents the quality available at the mid-market range:

• Sold Price: $349,000 (Full asking price)
• Size: 1,342 square feet
• Layout: 2 bedrooms, 2 bathrooms
• Speed: Sold in 8 days

With a sale time of just over a week at full price, this transaction underscores the stability and desirability of established communities like Weatherstone.

Average Priced Sale: The Arbors

The average price for the year was the sale of 4350 Pine Ridge Court at The Arbors. The Bouma Group had the pleasure of representing the buyer for this transaction.

This property offered generous space and comfort:

• Sold Price: $414,500 (Listed at $424,900)
• Size: 1,786 square feet
• Layout: 3 bedrooms, 2.5 bathrooms
• Speed: Sold in 16 days

This sale highlights a slightly larger footprint than the median, offering buyers nearly 1,800 square feet and three bedrooms for just over $400k.

2025 Market by the Numbers

Beyond specific properties, the broader statistics give us a clear view of market health. In 2025, the average “Days on Market” (DOM) for all 565 sales was just 33 days. This indicates a seller’s market where buyers need to act decisively.

How Fast Did Homes Sell?

Speed was the name of the game for the vast majority of listings. Here is the breakdown of how long condos stayed on the market:

• 0-30 Days: 384 sales
• 31-60 Days: 93 sales
• 61-90 Days: 42 sales
• 91-120 Days: 13 sales
• 121+ Days: 33 sales

With 384 out of 565 units selling in the first month, preparation is key. Buyers who are pre-approved and ready to write offers have a distinct advantage.

New Construction and Luxury Trends

New developments continue to shape our skyline and neighborhoods. There were 31 new construction condos sold this year. These units had a longer average market time of 114 days, which is typical for new builds where sales often occur before construction is complete.

The luxury sector also showed strength. A total of 16 condos sold for over $1 million, and notably, 4 of those were new construction projects. This data suggests a growing appetite for premium, modern amenities in the Ann Arbor area.

Work with the Ann Arbor Condo Specialists

Navigating a condo market that ranges from $100k to over $2M requires local expertise and a deep understanding of neighborhood nuances. Whether you are looking to sell your current condo for top dollar or find the perfect new home in a competitive landscape, we are here to guide you.

At The Bouma Group, Realtors, we know the buildings, the bylaws, and the buyers. Let us put our experience to work for you!

Contact us today to start your journey.
Call 734-761-3060 or email info@bouma.com

Featured Ann Arbor Condos for Sale in December 2025

Featured Condos for Sale in Ann Arbor

Ann Arbor offers a unique blend of vibrant city life and peaceful neighborhood charm, making it a fantastic place to call home. If you’re looking for the convenience of condo living without sacrificing style or location, you’ve come to the right place. Here are five exceptional condos currently available, each offering its own distinct character and benefits.

Find Your Perfect Ann Arbor Condo

From exclusive retreats just minutes from downtown to stylish studios in the heart of the action, there’s a perfect match for every lifestyle. Here are some of our featured listings that you won’t want to miss.

285 Mulholland Ave: A Private Treetop Retreat
Price: $599,000

Imagine living in a serene, park-like setting while being just minutes from the energy of downtown Ann Arbor. This stunning unit at the exclusive Treehouse Condominiums makes it possible. As one of only four residences in this boutique community, it offers a rare combination of privacy and accessibility. This 2-bedroom, 2.5-bath home feels both spacious and inviting.

As you step inside, you’ll love the beautiful maple hardwood floors and the natural light that pours through large windows in every room. The living room is perfect for cozy evenings, centered around a gorgeous wood-burning fireplace with hand-picked Turkish tile. From there, you can step out onto a large covered balcony to enjoy the tranquil scenery. The bright kitchen features cork flooring and lovely views of the backyard. Upstairs, the primary bedroom’s soaring cathedral ceilings create an airy escape, complete with a spa-like ensuite bath. A second primary suite, a two-car garage, and low HOA fees complete this incredible package.

531 Liberty Pointe Dr: Contemporary and Convenient
Price: $325,000

Welcome to this fabulous 2-story townhouse in the sought-after Liberty Pointe community. This home has been meticulously maintained and boasts numerous recent updates, including a brand-new AC (2025), a new furnace (2019), and a new water heater (2019), giving you peace of mind for years to come. With its private entrance and attached garage, this condo feels like a single-family home.

The light-filled living room features a cozy fireplace and is perfect for relaxing or entertaining. The well-designed kitchen flows into a dining area that opens onto a private deck, ideal for enjoying meals outdoors while overlooking the central greenspace. The upstairs primary suite is a true retreat, offering a walk-in closet and an ensuite bath with a dual-sink vanity and spa tub. A partially finished basement adds even more living space, with a room perfect for a home office or gym, plus a third full bath. Located right on the AATA bus line, it’s an easy commute to the University of Michigan and downtown.

922 W Summerfield Glen Circle: Stylish First-Floor Living
Price: $298,500

This stunning first-floor ranch-style condo in the popular Summerfield Glen community offers a perfect blend of modern style and everyday function. The open floor plan creates a seamless flow, ideal for contemporary living. The kitchen is a true highlight, featuring dark granite countertops, a glass tile backsplash, and sleek graphite stainless steel appliances.

Warm hardwood floors extend throughout the main living areas and bedrooms. The inviting living room includes an electric fireplace and opens to a screened-in porch, where you can enjoy peaceful courtyard views. The spacious primary suite features double closets and an attached bath. This home also includes the convenience of an in-unit washer and dryer, a new water heater, and a detached one-car garage. With its location on Ann Arbor’s west side, you’ll have easy access to I-94, downtown, shopping, and dining.

555 E William St. 17B: Modern Downtown Studio
Price: $214,000

Are you looking for a vibrant downtown lifestyle? This bright, south-facing studio condo is located just one block from the University of Michigan campus in Tower Plaza. It’s been beautifully updated with modern flooring and a stylish white kitchen featuring granite counters. The building itself offers fantastic amenities, including soundproof walls for peaceful living, on-site laundry, and a dedicated storage area.

With attentive on-site maintenance, you can enjoy a worry-free lifestyle. This unit is a perfect home base for students, professionals, or anyone wanting a chic and affordable retreat in the heart of Ann Arbor. It represents an incredible value for downtown living.

555 E William St. 3K: A Value-Packed City Pad
Price: $210,000

Also located in the secure and quiet building at Tower Plaza, this south-facing studio offers many of the same fantastic features as unit 17B. It boasts stylish updates, including modern flooring and a white kitchen with granite countertops, creating a bright and welcoming space. The spacious bathroom vanity adds a touch of practical luxury.

This condo provides an amazing opportunity to live just steps from campus and all the excitement of downtown Ann Arbor. It’s an ideal choice for those seeking a convenient and low-maintenance lifestyle without compromising on style or location. If you’re looking for a smart investment or the perfect urban retreat, this studio is an excellent choice.

Your Ann Arbor Condo Awaits

Each of these properties offers a unique opportunity to enjoy the best of Ann Arbor living. Whether you’re drawn to a quiet, park-like setting or the buzz of downtown, we are here to help you find the perfect fit.

Are you ready to see one of these incredible condos in person? Don’t wait! Contact The Bouma Group, Realtors today at 734-761-3060 or email us at info@bouma.com to schedule a showing or to learn more about other available properties. See more Ann Arbor Condo complexes here and find your perfect community!

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Ann Arbor Condo Market: Q3 2025 Recap and Sales

Mortgage Rates Just Saw Their Biggest Drop in a Year

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.

On Friday, September 5^th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year.

What Sparked the Drop?

According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.

Basically, we’re seeing signs the economy may be slowing down, and as certainty grows in the direction the economy is going, the markets are reacting to what is likely ahead. That historically brings mortgage rates down.

Why Buyers Should Pay Attention Now

But this isn’t just about one day of headlines or one report. It’s about what the drop means for you.

This recent change saves you money when you buy a home or condo. The chart below shows you an example of what a monthly mortgage payment (principal and interest) would be at 7% (where mortgage rates were in May) versus where rates roughly are now:

Compared to just 4 months ago, your future monthly payment would be almost $200 less per month. That’s close to $2,400 a year in savings.

How Long Will It Last?

That really depends on where the economy and inflation go from here. Rates could drop lower, or they could inch up slightly.

So, make sure you’re connected with a good agent and trusted lender. We keep a close eye on inflation indicators, job market updates, and reactions to upcoming Fed policy to gauge where mortgage rates may go from here.

But for now, focus on this. While no one can say for sure where rates are headed, the fact that rates broke out of their months-long rut is a good thing. If you’ve been feeling stuck, this could make the start of a new chapter. As Diana Olick, Senior Real Estate and Climate Correspondent at CNBC, says:

“Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.” 

And that’s gives you more reason to hope than you’ve had in quite some time.

Bottom Line

This is the shift you’ve been waiting for.

Mortgage rates just saw their biggest decline in over a year. And if rates stay near this level, it could make a home or condo you couldn’t afford just a few months ago feel possible again.

What would today’s rates save you on your future monthly payment? Let’s connect so you can find out. Contact us today at The Bouma Group, Realtors at 734-761-3060 or info@condohotline.com and we’ll make a plan together. See what condo communities Ann Arbor has to offer and start dreaming about your new home!

Condos Could Be a Win for Today’s Buyers

Condos Could Be a Win for Today’s Buyers

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in.

For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain, with the flexibility to stay in a great location.

And right now, condos are one of the most buyer-friendly parts of the market.

Condo Inventory Is Up, And That Means More Choice

According to the National Association of Realtors (NAR), there are 194,000 condos for sale right now. That’s the second highest amount we’ve seen in the last three years (see graph below):

Just remember, this is the national figure. The exact number is going to vary based on where you’re looking to buy. But, generally speaking, you have more options and less competition. In Ann Arbor right now, there are 140 condos for sale ranging in price from $174,900-$2,950,000 with a median price of $399,950, and an average of 85 days on the market. 25 of these units are new construction that range from $501,863-$2,858,000. If you’re looking for a good value, an existing condo in Ann Arbor is your best bet. See all Ann Arbor Condos currently for sale

You’re not stuck waiting for something to pop up or rushing into an offer just to beat someone else to it. You’ve got plenty to choose from. And if you’re particular about layout, location, or amenities, this is your chance to be selective. See Ann Arbor complex details

That’s a big shift from the market frenzy of just a few years ago. Compared to early 2022, we’ve got nearly double the condos available now. That gives you more breathing room to find the right fit.

Prices Are Cooling, and Buyers Hold More Negotiating Power

And since there are more for sale, many sellers are more open to negotiating right now. So, you may be able to get a better price. As Redfin explains:

“. . . condo buyers in many cities may be able to find sellers who are willing to give concessions and/or sell for less than their asking price.”

Condo prices are starting to ease in many markets. According to Intercontinental Exchange (ICE), condo prices dipped 1.3% in June compared to last year. And over half of the top 100 U.S. metros saw condo prices drop slightly year-over-year. Ann Arbor has seen a drop of 3.3% in the median price year-to-date and 1.5% decrease in the average sales price.

Data from Redfin shows what the recent dip in prices looks like (see graph below):

That doesn’t just help with affordability, it also shifts the power dynamic. Condo buyers in many markets are now in a position to negotiate on price and ask for concessions, like help with closing costs.

Bottom Line

Condos aren’t just a fallback option. In today’s market, they’re one of the most strategic ways to buy. With more options, softening prices, and more room to negotiate, now could be the right time to make your move.

Could a condo check more boxes than you expected? Let’s talk through your options and find out. Contact us today at The Bouma Group, Realtors at 734-761-3060 or info@condohotline.com.

What Is Pop-Up Tax? A Guide for Homebuyers in Ann Arbor

A Buyer’s Guide to Pop-up Tax

When buying a home or condo in Ann Arbor, there’s a term that often catches homebuyers, particularly first-time buyers, off guard: the pop-up tax. This little-known factor can have a significant impact on your property tax bill after closing. But what is it, exactly, and how does it work? More importantly, how can you prepare for it?

This guide will explain the concept of pop-up tax, clarify how it affects your property taxes, and provide tips for navigating this cost so you can approach your home purchase with confidence.

What Is Pop-Up Tax?

The pop-up tax is a term used to describe the increase in property tax assessments that occurs when a property changes ownership. Under Michigan law, the taxable value of a home or condo—used to calculate property taxes—remains capped while the same owner holds the title. This means the property taxes typically increase only slightly each year due to limits set by the state.

However, when a property is sold, this cap is removed, and the taxable value is “uncapped,” triggering a reassessment. The property’s taxable value is reset to match its state equalized value (SEV), which is typically about 50% of the property’s market value. This reassessment can result in a significant jump in property taxes, hence the colloquial name “pop-up tax.”

For example, if the previous homeowner’s taxable value was $125,000 but the state equalized value after the sale is $200,000, your taxable value as the new owner will “pop up” to the higher figure. Consequently, your property tax bill will also spike.

How Does the Pop-Up Tax Work?

To understand the pop-up tax in practice, it’s essential to differentiate between two figures:

1. Taxable Value – This is the value used to calculate your property taxes. For continuing homeowners, it increases annually at the rate of inflation or 5%, whichever is lower, thanks to Michigan’s property tax cap (Proposal A).
2. State Equalized Value (SEV) – This is an estimate of 50% of your home’s market value, determined by local assessors. SEV fluctuates with the property’s appraised market value.

When a property changes hands, the taxable value is uncapped and reset to the SEV. Property taxes are then recalculated based on the new taxable value. Depending on how long the previous owner held the property—and how dramatically property values have risen in the area—the difference between the old and new taxable value can be substantial.

Example Scenario:

Imagine you’re buying a condo in Ann Arbor:

• The seller purchased the property 15 years ago for $150,000. Over time, with Michigan’s tax cap, their taxable value crept up to $100,000.
• You’re purchasing the condo today for $300,000. The SEV would be half of that, or $150,000. Now that the taxable value is uncapped, it will rise to $150,000.
• If the local property tax rate is 2%, your annual taxes increase from $2,000 (2% of $100,000) to $3,000 (2% of $150,000), meaning you’re paying $1,000 more each year.

The key takeaway here? Even if the previous owner’s property taxes seemed affordable, they may not reflect what you’ll pay after buying the home.

What Makes Ann Arbor Unique?

Ann Arbor’s dynamic real estate market plays a big role in the impact of pop-up taxes. With a mix of high-demand areas and steadily increasing property values, SEVs (and consequently property taxes) can rise dramatically over time. Homes owned for many years may have taxable values well below their market values, leading to a more significant adjustment when ownership changes.

It’s also worth noting that millage rates—or local tax rates—add to this. Ann Arbor has a variety of millages supporting schools, parks, and local services that contribute to the city’s thriving community but also increase property tax obligations compared to surrounding areas.

For new homeowners, this means it’s especially important to account for the potential tax adjustment when determining your budget.

How Can Buyers Prepare for the Pop-Up Tax?

Understanding and planning for the pop-up tax can save you from unwelcome surprises after closing. Here are some practical tips:

1. Estimate Your Adjusted Property Taxes

Before committing to a purchase, use the home’s SEV to estimate what your property taxes will look like after the sale. The easiest way to find this value is through the local assessor’s website or by contacting their office directly. Multiply the SEV by two to approximate the home’s market value, then apply the local millage rate to calculate your potential tax bill.

2. Use Online Tax Estimation Tools

Many municipalities, including those in Washtenaw County, provide online property tax calculators. These tools can help you determine your estimated tax liability based on the property’s sale price and applicable millages.

3. Talk to Your Realtor

Working with an experienced realtor in Ann Arbor ensures you’re not navigating these complexities alone. A local real estate agent can provide detailed tax insights for specific neighborhoods and recent properties they’ve sold.

4. Include Taxes in Your Budget

When calculating your monthly housing costs, be sure to include the adjusted property tax estimate along with mortgage payments, homeowners’ insurance, utilities, and association dues (if applicable). This full financial picture will prevent you from overextending your budget.

5. Appeal Your SEV if Necessary

If you believe the assessor overestimates your property’s market value after the sale, you have the right to appeal the new SEV. Consult the city or county guidelines for filing an appeal, and be prepared to submit supporting documentation.

Resources for Ann Arbor Homebuyers

Navigating property taxes can be daunting, but there are plenty of resources available to help:

• City of Ann Arbor Assessor’s Office – Provides property records, tax rates, and guidance for tax-related questions.
• Washtenaw County Website – Offers access to property tax calculators and assessor information.
• Michigan State Tax Commission – Publishes detailed guides on property taxes, SEVs, and appeals processes.
• Local Realtors – Many agents specialize in helping buyers understand pop-up taxes and other costs unique to the area.

Additionally, consider attending local homebuyer workshops or consulting with a real estate attorney for a deeper understanding of the process.

Final Thoughts

The pop-up tax may not sound like the most exciting part of buying a home or condo in Ann Arbor, but it’s a critical factor to plan for. By understanding how it works, estimating your property taxes, and leveraging the right resources, you can avoid any financial shocks and confidently take the next step in your homebuying journey.

Remember, buying a property is not just a financial investment—it’s a personal milestone. Preparing for the pop-up tax ensures that this moment remains as exciting and stress-free as possible. To learn more about the home buying journey and to start your, contact us at The Bouma Group today at 734-761-3060 or info@condohotline.com.