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.

Pre-Qual vs. Pre-Approval for Ann Arbor Condos

Pre-Qualification vs. Pre-Approval for Condos

Buying a condo is an exciting milestone, but navigating the financial requirements can feel overwhelming. If you are eyeing the market for Ann Arbor condos, you have likely heard the terms “pre-qualification” and “pre-approval” thrown around by real estate professionals and lenders. While they sound similar, they serve very distinct purposes in your home-buying journey.

Understanding the differences between these two financial checkpoints can save you time, reduce stress, and give you a competitive edge. This guide will break down pre-qualification vs. pre-approval, highlight when each is most beneficial, and provide practical condo buying tips to help you secure your dream property in Ann Arbor.

What is Pre-Qualification?

Pre-qualification is the first step in the mortgage process. It provides a basic estimate of how much house you can afford. To get pre-qualified, you supply a lender with an overview of your financial picture. This includes your income, assets, and debts.

The lender reviews this information and gives you an estimated loan amount. This process is usually quick, often happening over the phone or online. It rarely requires a hard credit check or deep verification of your documents. Think of pre-qualification as a helpful financial snapshot. It sets your budget expectations but does not guarantee a loan.

What is Pre-Approval?

Pre-approval is a much more rigorous process. It carries significantly more weight than a pre-qualification. When you seek pre-approval, you must complete an official mortgage application and supply the lender with extensive documentation. This includes recent pay stubs, W-2s, bank statements, and tax returns.

The lender will also pull a hard credit report to assess your credit score and history. Once the underwriter reviews your financial background, they will offer a specific loan amount at a specific interest rate. A pre-approval letter proves to sellers that you have the financial backing to follow through on an offer.

Key Differences: Pre-Qualification vs. Pre-Approval

To make the best decisions while shopping for Ann Arbor condos, you must understand how these two steps differ.

• Verification: Pre-qualification relies on self-reported data. Pre-approval requires strict verification of your income, assets, and credit history by a financial institution.
• Time and Effort: You can get pre-qualified in just a few minutes. Pre-approval takes several days or even weeks, as it involves gathering documents and undergoing underwriter review.
• Market Weight: Sellers do not view pre-qualification as a firm commitment. A pre-approval letter, however, shows you are a serious buyer with verified funds.
• Financial Impact: Pre-qualification usually involves a soft credit inquiry, which does not affect your credit score. Pre-approval requires a hard inquiry, which can slightly lower your score temporarily.

When to Use Each in the Ann Arbor Condo Market

The Ann Arbor real estate market is highly competitive. Knowing when to use a pre-qualification versus a pre-approval can dictate the success of your property search.

Early Stages: The Power of Pre-Qualification

Pre-qualification is highly beneficial when you are just starting to explore the idea of buying a condo. If you are browsing www.condohotline.com to see what types of properties are available, pre-qualification helps you set a realistic price range.

It prevents you from falling in love with a condo that sits outside your budget. Use this step to understand your financial boundaries before you officially hire a real estate agent or schedule property tours.

Ready to Buy: Why You Need Pre-Approval

Once you are ready to make offers on specific Ann Arbor condos, a pre-approval letter becomes mandatory. Sellers want assurance that a buyer can close the deal without financing falling through at the last minute.

If a highly desirable condo receives multiple offers, sellers will quickly dismiss bids from buyers who only have a pre-qualification. A solid pre-approval letter gives you negotiating power and demonstrates your credibility.

Essential Condo Buying Tips for Ann Arbor

Securing financing is just one piece of the puzzle. Use these condo buying tips to navigate your purchase smoothly:

Review the HOA Documents Carefully

Every condo association operates differently. Before finalizing your purchase, review the Homeowners Association (HOA) rules, fees, and financial health. Ensure the association has adequate reserves for future repairs so you avoid surprise special assessments.

Consider the Location and Lifestyle

Ann Arbor offers diverse neighborhoods. Decide whether you want a condo within walking distance of downtown dining, the University, Michigan Medicine, or something quieter on the outskirts of town. Factor your daily commute and lifestyle preferences into your location choice.

Partner with a Local Expert

Working with a Real Estate team that specializes in condos makes a massive difference. Local experts understand the nuances of specific condo communities and can guide you toward properties that fit your goals and budget.

Take the Next Step Toward Your Condo

Understanding pre-qualification vs. pre-approval puts you in a strong position to buy a condo. Start by getting pre-qualified to outline your budget, then secure a pre-approval when you are ready to shop seriously.

If you want expert guidance navigating the market for Ann Arbor condos, we are here to help. Reach out to The Bouma Group, Realtors today at 734-761-3060 or email us at info@bouma.com to begin your journey.

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!

Mastering the Ann Arbor Condo Market: Seller Strategies for 2025

Ann Arbor Condo Seller Strategies to Use Now

The Ann Arbor condo market, once a hotbed of activity, has entered a phase of transformation. Sellers are navigating a more nuanced landscape shaped by changing buyer behavior, economic pressures, and evolving priorities. If you’re looking to sell your condo in 2025, understanding these challenges—and knowing how to tackle them—can make all the difference. Here, we’ll break down the key hurdles sellers are facing and share actionable seller strategies to help you succeed in today’s shifting market.

Challenge #1: Cooling Market & Price Reductions

The Ann Arbor condo market has slowed after years of rapid growth. Elevated interest rates, currently between 6–7%, have increased borrowing costs, limiting buyer budgets and dampening demand. At the same time, new developments, particularly around campus, have driven a rise in inventory—June 2025 listings are up about 14.5% compared to the same time last year. The rise of student apartments, combined with the above factors, have slowed the purchasing of condos by parents for their college students.

This combination of factors is leading many sellers to reduce prices to attract buyers in a competitive market.

How to Tackle This

• Price Strategically: Start with a realistic comparison of recent sales in your neighborhood to set a competitive price. Buyers are hyper-aware of value in the current climate, so pricing right from the beginning can reduce the need for reductions later on.
• Leverage Expertise: Work with a reliable real estate agent who understands Ann Arbor’s micro-markets. They can guide you on pricing trends and help maximize your condo’s appeal.

Challenge #2: Longer Time on Market

Gone are the days when condos would sell within hours of listing. Today, properties are sitting longer as buyers take their time exploring their options. With more inventory available, buyers feel less urgency to make impulsive offers. Active listings in Ann Arbor are averaging 76 days on market, compared with 22 days this spring.

How to Tackle This

• Stand Out With Staging: A well-staged condo can leave a lasting impression. Modern, inviting spaces that appeal to buyer preferences—such as neutral tones, tidy layouts, and up-to-date fixtures—can make your property shine.
• Invest in Marketing: Professional photography and a strong online presence are crucial for grabbing attention. Aggressive, tailored marketing campaigns can also help set your listing apart from the competition.

Challenge #3: Affordability and Economic Pressure

High interest rates aren’t the only financial hurdle in Ann Arbor. The city’s property taxes remain a significant factor for buyers. Combined with economic uncertainty, these costs are pushing many buyers to prioritize affordability, even at the expense of luxury features.

How to Tackle This

• Highlight Cost-Saving Features: Showcase aspects of your condo that reduce long-term expenses, such as energy-efficient appliances or updated insulation. Small upgrades like thesecan appeal to budget-conscious buyers.
• Stay Flexible: Be prepared for negotiations, whether it’s adjusting your price or offering concessions like covering part of the buyer’s closing costs. Flexibility communicates a willingness to work with potential buyers, which can help move a sale forward.

Challenge #4: Michigan-Specific Disincentives

Michigan sellers face unique financial hurdles, including the state’s “pop-up” tax policy. This rule reassesses property taxes at the time of sale, often resulting in a steep increase for new buyers. This may influence a buyer’s offer and negotiations, possibly affecting the seller’s final sale price. Additionally, Realtor commissions in Ann Arbor can eat into sellers’ profits.

How to Tackle This

• Plan for Tax Impacts: Consult with a local real estate expert to fully understand how taxes might affect your sale. Timing can be crucial—it might make sense to sell during periods of peak buyer interest when competition intensifies.
• Maximize Your Proceeds: Every dollar counts when dealing with costs like commissions. Skilled agents can help position your home to sell faster and at a better price, mitigating these concerns.

Challenge #5: Shifting Buyer Priorities

Today’s buyers are putting an emphasis on turnkey properties. Features like flexible layouts, modern finishes, and energy efficiency are top of mind. Condos that require updates or renovations are often overlooked in favor of move-in-ready homes.

How to Tackle This

• Upgrade Strategically: Focus on affordable yet impactful updates, such as modern lighting, fresh paint, or stainless-steel appliances. Even small changes can enhance buyer interest.
• Highlight Walkability: Proximity to walkable amenities, such as restaurants, retail spaces, and parks, remains a key driver in Ann Arbor. Play up these features in your listing and marketing efforts.

Final Thoughts

The Ann Arbor condo market in 2025 is complex, but it’s not without opportunity. Sellers willing to approach this evolving landscape with strategy, flexibility, and the guidance of local experts can still achieve success. Understanding the factors shaping the market—rising inventory, shifting buyer preferences, and financial hurdles—will help you prepare and adapt.

Whether it’s pricing competitively, staging effectively, or upgrading intelligently, taking deliberate action using these seller strategies is key to standing out in this highly selective market. Partnering with professionals who understand Ann Arbor’s real estate dynamics can also make the process less daunting and more rewarding. Remember, with the right focus and adaptability, the right buyer is out there for your condo.

Looking to list your Ann Arbor condo? The Bouma Group is here to help you succeed every step of the way. Reach out today for advice tailored to your specific goals at 734-761-3060 or info@condohotline.com.

Why Ann Arbor Condos Are Experiencing Price Reductions this Spring

Price Reductions for Ann Arbor Condos

If you’re following the Ann Arbor housing market, you’ve likely noticed a curious trend this Spring—price reductions on condos are becoming more common. For homebuyers and sellers alike, this shift raises a lot of questions. Why are prices being lowered? What does it say about the market? And most importantly, how should you respond, whether you’re buying or selling?

This blog will break down the key reasons behind these price adjustments, the economic factors at play, and what this market trend means for both buyers and sellers. We’ll also share tips for navigating these changes.

What’s Causing the Price Drops?

Several factors are driving the recent wave of condo price reductions in Ann Arbor. While changes like this are rarely the result of one issue alone, the following may help explain the bigger picture.

1. Shifting Market Conditions

Over the past year, the real estate market in the U.S. has cooled after a frenzied post-pandemic housing boom. Ann Arbor, like many cities, is experiencing the effects of this market recalibration. Gone are the days when sellers could list their properties at inflated prices and expect competing offers within hours. Today, homes—including condos—are sitting on the market longer, forcing sellers to reconsider their pricing strategies.

2. Economic Influences

National and local economic factors also play a critical role. As of June 2025, interest rates remain elevated compared to their historical lows. Higher mortgage rates directly impact affordability for buyers. With borrowing costs rising, many prospective buyers are scaling down their budgets or opting to rent instead. This ultimately reduces demand for condos, putting downward pressure on prices.

Additionally, uncertainties in the broader economy, such as concerns about inflation or possible recessionary trends, may be making buyers more cautious. Economic uncertainty often translates to softer real estate markets.

3. Increase in Inventory

Another part of the equation is an increase in condo inventory. Over the last few years, Ann Arbor has seen a rise in new condo developments catering to its growing population of students, professionals, and retirees. In May 2025, Ann Arbor saw a 28% increase in listings compared with May 2024. While this increase in supply is great for buyers, it means sellers now face more competition. When buyers have more options, sellers must be willing to negotiate or lower their asking prices to make their listings stand out.

4. Potential Overpricing

Some sellers in Ann Arbor may have initially priced their condos too high. This might be due to lingering expectations from the seller-friendly market of recent years or a misunderstanding of current conditions. When a home sits on the market without generating enough interest, sellers often opt for price reductions to attract a new buyer pool, get offers, and avoid prolonged market exposure.

The Impact on Buyers and Sellers

Price reductions affect buyers and sellers in different ways, and understanding these impacts can help you make informed decisions.

For Buyers

Price reductions present an opportunity, especially for those who have been struggling to break into the competitive housing market. Here’s what buyers can expect:

• More Negotiating Power: Buyers may find they have an edge when making offers, as sellers are more motivated to close deals.
• Wider Choices: Since inventory levels are higher, buyers can take their time to explore more options and make decisions that align with both their preferences and budgets.
• Affordability Considerations: Although sellers are reducing prices, higher mortgage rates may still make monthly payments a challenge. Ensure you run the numbers carefully before committing.

For Sellers

If you’re selling your condo in Ann Arbor, this environment can feel more challenging. However, understanding the reality of today’s market can help you adjust your approach:

• Pricing Strategically: Setting a realistic price from the beginning is critical to attracting buyers. Consider consulting with a local real estate professional who understands current market trends.
• Considering Pre-Listing Improvements: Enhancing your condo’s appeal through small upgrades or staging can help it sell faster, even in a cooling market.
• Being Patient and Flexible: Be prepared for the possibility of longer listing times and the need to negotiate with buyers.

Navigating the Current Market

Whether you’re a prospective buyer or a seller, here are some tips for navigating today’s Ann Arbor condo market:

Advice for Buyers

1. Know Your Budget: With changing market conditions and higher mortgage rates, determine what you can comfortably afford before starting your search.
2. Be Prepared to Compromise: While inventory is higher, the perfect property may still come at a premium. Know your non-negotiables and be willing to compromise on other aspects.
3. Time Your Offers Strategically: Staying informed about price reductions and market dynamics can help you make well-timed offers, potentially securing a great deal.

Advice for Sellers

1. Work with a Pro: An experienced real estate agent familiar with Ann Arbor’s unique market can provide pricing strategies that help your condo remain competitive.
2. Focus on Presentation: Ensure your condo makes a strong first impression with prospective buyers. This could include staging, professional photos, or hosting open houses.
3. Adjust Quickly: If your condo isn’t generating interest after a couple of weeks, reevaluate your strategy. This might mean a price adjustment or additional marketing efforts. Typically, if you’ve had 10-12 showings and no offers, you’re 4-6% over list price, and if you’ve had no showings, you’re 10% over.

Looking Ahead

The Ann Arbor market is undergoing a period of recalibration, which may continue through 2025. While this isn’t ideal for every seller, it’s a necessary part of balancing supply and demand, paving the way for more sustainable market conditions in the long term. If you’re planning to buy or sell a condo, staying informed and adapting to these changes will help you make the most of today’s real estate landscape.

Whether you’re a first-time homebuyer or a seasoned property owner, preparing for these shifts is key. Taking proactive steps now can lead to better opportunities in the months ahead. Contact us today at The Bouma Group, Realtors at 734-761-3060 or info@condohotline.com and let’s get your condo priced correctly to sell!

Buyers, start your Ann Arbor Condo search here!

Ann Arbor Condo Market Update – First Quarter 2025

Condo Sales Recap for the First Quarter 2025

Are you thinking about buying or selling a condo in Ann Arbor this year? Understanding the latest market trends can help you make informed decisions, whether you’re a first-time buyer, seasoned investor, or looking to sell your property for the best price.

The first quarter of 2025 painted an exciting picture of Ann Arbor’s dynamic condo market. With an impressive variety ranging from luxury properties to affordable co-ops, there’s no shortage of opportunities for buyers and sellers alike.

Here’s a detailed look at key market stats, standout sales, and insights to guide your real estate plans.

Key Market Trends in Q1 2025

Before we break it down, here are some highlights from the first quarter of the year:

• Average sale price: $410,270
• Median sale price: $342,500
• Average price per square foot: $302
• Median price per square foot: $277
• Days on market (on average): 43
• Number of sales: 100
• Quick movers: 61 condos sold in 30 days or less!

Ann Arbor’s real estate market continues to provide diverse opportunities for both buyers and sellers while maintaining healthy activity levels.

Now, let’s take a closer look at the highest, average, median, and lowest-priced condo sales in the first quarter 2025.

The Most Expensive Sale

• Location: 3231 Ardley Avenue, Ann Arbor, MI 48105
• List Price: $1,129,995
• Sale Price: $1,114,995
• Square Footage: 2,740 sq. ft.
• Price Per Square Foot: $406.20
• Bedrooms/Bathrooms: 3 beds, 3.1 baths
• Days on Market: 14

This luxurious condo in the exclusive North Oaks community offered its buyers spacious, modern living, coupled with a prime location. Selling slightly under asking price in just 14 days, it’s a shining example of Ann Arbor’s luxury real estate appeal.

The Average Condo Sale

• Location: 443 Sumark Way, Ann Arbor, MI 48103
• List Price: $409,000
• Sale Price: $415,000
• Square Footage: 1,693 sq. ft.
• Price Per Square Foot: $245.17
• Bedrooms/Bathrooms: 2 beds, 2.1 baths
• Days on Market: 5

This property in Oakbrook highlights the perfect balance of space, price, and location in Ann Arbor’s competitive market. Buyers didn’t hesitate, making this sale happen in just five days and even slightly over asking price.

The Median Condo Sale

• Location: 5588 Arbor Chase Drive, Ann Arbor, MI 48103
• List Price: $359,000
• Sale Price: $340,000 – Sold by The Bouma Group
• Square Footage: 1,395 sq. ft.
• Price Per Square Foot: $243.73
• Bedrooms/Bathrooms: 2 beds, 2 baths
• Days on Market: 58

This sale reinforces the steady demand for mid-market condos in Ann Arbor. With a practical layout and competitive price, this Arbor Chase condo is the type of property buyers seek for quality and convenience.

The Least Expensive Sale

• Location: 2116 Pauline Blvd #201, Ann Arbor, MI 48103
• List Price: $180,000
• Sale Price: $167,500
• Square Footage: 929 sq. ft.
• Price Per Square Foot: $180.33
• Bedrooms/Bathrooms: 2 beds, 1 bath
• Days on Market: 172

This affordable condo at Walden Hills demonstrates that even budget-conscious buyers can find options in Ann Arbor. While it spent more time on the market, its eventual sale highlights opportunities for entry-level buyers or investors.

What These Trends Mean for Buyers and Sellers

Whether you’re thinking about buying or selling, here’s why the Ann Arbor condo market works for you:

• For Buyers: From high-end excellence to affordable finds, the Ann Arbor market fits a variety of budgets and lifestyles.
• For Sellers: Properties priced competitively and marketed effectively continue to move swiftly, with over half of Q1 listings selling in under 30 days.

These trends reiterate that Ann Arbor is the place to get value on both sides of the deal.

What’s Next?

If you’re looking to enter the Ann Arbor condo market or explore its potential for your current property, we’re here to guide you every step of the way.

Contact us at The Bouma Group, Realtors today at 734-761-3060 or info@condohotline.com for expert advice and personalized solutions.

There’s no better time to make your move in Ann Arbor! See Ann Arbor condo complexes and units for sale here.

6 Condo Complexes Within Walking Distance of University of Michigan Medical Center

If you’re a University of Michigan medical professional, resident, student, or hospital employee, convenience is likely high on your list of home-buying priorities. What if we told you there are condo communities in downtown Ann Arbor that cut down your commute to the University of Michigan Medical Center and offer vibrant city living and outdoor amenities?

Here’s your guide to six incredible condo communities, all within walking distance of the University of Michigan Med Center!

1. River House

River House is a gem for anyone looking for affordability paired with convenience. Just steps away from the UMich Medical Center, it offers an unbeatable combination of downtown Ann Arbor living and proximity to nature. With Island Park and the Border-to-Border Trail nearby, outdoor enthusiasts will love this location. River House condos are also close to North Campus and the campus bus route, making getting around the city even easier. Price points here are typically on the lower end of the spectrum, starting at around $250,000.

Key Features:

• Affordable entry price
• Ranch-style units in 2-story buildings
• Community pool tucked within the complex
• Carport and guest parking
• Quick access to Island Park and Fuller Pool, Park, and Fields
• Learn more about River House

2. Riverside Park Place

Nestled next to gorgeous Riverside Park and the Huron River, Riverside Park Place offers stunning views and immediate access to green spaces. This high-rise condo building is perfect for those who enjoy the energy of city life balanced with tranquil outdoor escapes. It’s a short stroll to the Med Center, and Lower Town’s shops and restaurants are just around the corner.

Key Features:

• Steps from Riverside Park, the B2B Trail, and the Huron River
• Proximity to the Kellogg Eye Center and Lower Town
• Community pool and fitness center
• Learn more about Riverside Park Place

Prices at Riverside Park Place start at approximately $300,000 and occasionally reach higher tiers depending on square footage and views.

3. Broadway Condos

Broadway Condos blend suburban serenity with downtown energy. Just a five-minute walk to UMich Med Center, these 14 condos truly embody “location, location, location.” With Broadway Park, Argo Park and Canoe Livery, and Island Park nearby, you can immerse yourself in Ann Arbor’s outdoors whenever you need a break. These properties are a favorite for students and young professionals working in healthcare.

Key Features:

• Close to multiple parks, including Broadway and Island Parks
• Quiet, tree-lined surroundings with urban convenience
• Quick access to Lower Town restaurants and shopping
• Learn more about Broadway Condos

Condos at Broadway average $400,000 and typically have 1 sale per year.

4. Nielsen Square

Modern design meets urban convenience at Nielsen Square. This condo community is ideal for anyone looking for townhouse style living close to the hustle and bustle of downtown Ann Arbor. It’s also within walking distance to the University of Michigan Medical Center and across the river from Fuller Park, which features ample opportunities for sports and outdoor activities.

Key Features:

• Modern and spacious condos
• Close to Fuller Park and Cedar Bend Nature Area
• Directly on the campus bus route
• Garage and guest parking
• Gazebo, picnic area, and grills
• Learn more about Nielsen Square

Expect to find these elegant condos priced between $450,000 to $525,000, offering great value for their amenities!

5. Catherine Commons

With a prime location, only 1 block from the medical center, Catherine Commons is perfect for medical professionals looking to strike a balance between work and leisure. These 2.5-story townhomes offer 2 bedrooms, plus a loft with a third, and 2.2 – 3.1 baths.

Key Features:

• Spacious, upscale condos with 2-car garage parking
• Lower levels for added living or storage space
• Proximity to the Med Center and UMich central campus
• Easy access to Ann Arbor’s best parks and trails
• Learn more about Catherine Commons

This small enclave of only 5 units had 2 sales in the past 5 years at $560,000 in 2020 and $620,000 in 2022.

6. Catherine Place

Rounding out our list is Catherine Place, another boutique condo option that emphasizes convenience. Located just 1 block from the Med Center, right next door to Catherine Commons, and close to Kerrytown’s lively shops, restaurants, and farmers market. Catherine Place is a bit more upscale but worth every penny for its combination of location and features. If you’re seeking a cozy vibe, with larger floor plans, Catherine Place is worth exploring.

Key Features:

• Luxury condo building with spacious units offering 4-5 bedrooms
• Walking distance to Kerrytown for shopping and dining
• Near campus bus routes and central campus
• Garage parking
• Learn more about Catherine Place

This building also has 5 units that rarely come to the market. Prices for Catherine Place condos are currently priced around $1,000,000.

Why These Communities Stand Out

All six of these condo communities share several standout features that make them perfect for University of Michigan Med staff, students, and residents:

• Proximity to Nature: With some of Ann Arbor’s best parks—like Argo, Fuller, and Island Lake—within walking distance, these communities offer a rare balance of urban and outdoor living.
• Vibrant Downtown Living: These condos put you close to downtown Ann Arbor’s liveliest neighborhoods, featuring cafes, restaurants, shops, and venues.
• Convenience for Hospital Staff: Skip the traffic and lengthy commute—these locations give you precious minutes back in your day to unwind and relax.
• Transportation Access: With on-campus bus routes nearby, getting around is a breeze.

Final Thoughts

Living within walking distance of the University of Michigan Medical Center isn’t just convenient—it’s a lifestyle upgrade. Whether you’re looking for budget-friendly options like River House or luxury living at Catherine Place, these six condo communities cater to a wide range of needs and preferences.

If you’re considering making the move, our team is here to help. Contact us today to learn more about these exceptional properties or schedule a tour. Your next home is just around the corner! 734-761-3060 or info@bouma.com

First-Time Buyers: Smart Moves to Break Into the Market

Smart Moves for First-Time Buyers

If you’re like a lot of aspiring homebuyers, there’s a major hurdle standing in your way — the cost of living. From groceries to gas, eggs, and just about everything else, prices have gone up. And that rings true for home prices, too.

But even when everything feels expensive, there are still ways to make homeownership more than an item on your wish list. You may just need to think about where you plan to buy a bit differently.

Think of Your First Home as a Stepping Stone

One of the biggest misconceptions among first-time buyers is that their first home has to be their forever home – or that it has to check all the boxes of what they want right out of the gate. In reality, it’s just a starting point.

Once you own a condo or home, you start to build equity, which grows over time as prices rise. Down the road, if you want to move — whether to a larger space, a better location, or both — the equity you’ve gained can help you do just that.

So rather than waiting until you can afford your dream home in your ideal area or neighborhood, consider starting with something that works for now.

Expand Your Search To Find More Affordable Options

If high prices in your favorite area are holding you back, it’s time to cast a wider net. By keeping an open mind and being flexible with location, you may be surprised at what’s possible within your budget. Many buyers find success by looking in surrounding areas – and some even choose to move out of state.

According to 2024 year-end data from MichRIC, these are the median prices for condos sold in these Washtenaw County areas (see chart below):

If you want to stay local, looking just outside your preferred area could help you find something you can afford that’s still pretty close to your favorite restaurants, shops, and activities. Sometimes, moving as little as 10 minutes away makes a big difference.

And the best way to see what’s available is to work with a real estate agent who understands the local market and can help you identify hidden gems nearby. An agent can point you to communities you may not have considered that have lower price tags now and are steadily gaining value and appeal. That way you can buy your first place and be set up to gain equity through the years.

Bottom Line

Today’s cost of living is a challenge for many buyers. But by exploring different areas and working with a knowledgeable agent, you can take that first step toward owning a home — and building equity for your future.

How far outside of your area would you look to make homeownership happen? Let’s connect to chat through your options. Contact us today at The Bouma Group at 734-761-3060 or info@condohotline.com.

Exciting New Construction Condo Developments in Ann Arbor, MI

New Construction Condos in Ann Arbor

Ann Arbor is a city that perfectly blends small-town charm with vibrant, urban living, making it one of the most desirable places to call home in America. Whether you’re seeking a contemporary townhouse or a luxury penthouse, Ann Arbor’s latest condo developments offer something for everyone. Here’s a look at some of the most exciting new construction condo projects currently taking shape in this incredible city.

Bristol Ridge – North Side of Ann Arbor

Bristol Ridge by Norfolk Homes is a standout option for those seeking spacious townhome living. Nestled on the north side of Ann Arbor, this stylish community offers townhome-style condos priced between $500,000 and $650,000. With thoughtful designs, modern interiors, and proximity to nearby parks and shopping areas, Bristol Ridge offers the perfect balance of suburban tranquility and urban convenience.

212 Miller Ave. – Downtown Ann Arbor

 

Want to live in the heart of Ann Arbor’s bustling downtown? 212 Miller Ave. is the perfect choice. This boutique 8-unit condo development, designed by Hobbs & Black, epitomizes modern downtown living. With units ranging from $750,000 to $1,500,000, residents enjoy sleek modern designs within walking distance of the city’s best restaurants, shops, and cultural attractions.

330 Detroit Street – Downtown Ann Arbor

If the iconic “Flat Iron” building designs inspire you, then 330 Detroit Street is a must-see. Located right in Kerrytown, this striking 15-unit condo building by Marc Rueter and Associates offers distinctive, sophisticated urban living. With pricing between $1,345,000 and $1,695,000, these condos are ideal for those who appreciate bold architectural design and convenient access to all that Ann Arbor has to offer.

The J. Sinclair – Close to Downtown Ann Arbor

Experience luxury like never before at The J. Sinclair, a stunning 15-unit condo project offering penthouse-style residences near downtown Ann Arbor. This development, brought to life in a restored historic building by Hobbs & Black and Phoenix Contractors, radiates elegance. With prices starting at $2.8M, these high-end condos are perfect for those who value architectural beauty and exclusivity. These unique homes combine historical charm with the ultimate in contemporary luxury.

North Oaks – North Side of Ann Arbor

North Oaks, constructed by Toll Brothers, offers villa-style condos tailored for your needs. With first-floor primary suites, these homes combine comfort and luxury. Located on the north side of Ann Arbor, North Oaks features condos priced from $680,000 to $900,000, appealing to those looking for hassle-free, luxurious living.

Veridian at County Farm – South East Ann Arbor

For eco-conscious buyers, the Veridian at County Farm is a dream come true. Designed by Thrive Collaborative, this entirely green community is powered by solar energy and adheres to net-zero energy standards. Offering a range of options from studios to lofts to townhomes, this development starts at $300,000 and goes up to $990,000. If sustainable living in a vibrant, connected community sounds appealing, Veridian is worth exploring.

Townes on the Green – South Ann Arbor

Townes on the Green, built by Robertson Brothers Homes, offers stylish two- and three-level townhomes in South Ann Arbor. Priced from $480,000–$650,000, this community provides beautiful, modern-designed homes in a convenient location for those looking to settle in a close-knit neighborhood just minutes from local amenities.

The Gallery of Scio – West Side of Ann Arbor

For those searching for detached ranch-style condos, The Gallery of Scio in nearby Scio Township is a hidden gem. Constructed by Wexford Homes, this development combines the space of single-family homes with the convenience of condo living. Priced between $650,000 and $980,000, it’s a fantastic choice for buyers who prioritize privacy and tranquility while staying close to Ann Arbor.

Why Choose a New Construction Condo in Ann Arbor?

Ann Arbor’s new condo developments offer more than just a place to live—they provide a lifestyle. With modern designs, low-maintenance features, and premium locations, these condos allow residents to focus on enjoying everything Ann Arbor has to offer, from cultural events and top-tier restaurants to outdoor activities and a thriving local economy.

These communities are also designed with flexibility in mind, making them suitable for a wide range of buyers. Whether you’re a young professional seeking urban living, a family looking for easy access to schools, or a retiree downsizing into a low-maintenance home, there is a place for you.

And when you choose a new construction condo, you’re also buying into the latest building techniques, energy-efficient features, and contemporary home technologies—ensuring long-term comfort and peace of mind.

Find Your Dream Condo

Ann Arbor’s dynamic real estate market is buzzing with opportunities to find or customize your dream home. Whether you’re drawn to the eco-friendly innovation of Veridian at County Farm, the luxurious penthouses at The J. Sinclair, or the suburban charm of The Gallery at Scio, there has never been a better time to explore your options.

Need help navigating the market or selecting the perfect condo for you? Our team of local experts is here to guide you. Don’t go it alone, we’re here to represent you in new construction. You do not pay the builder extra for your own representation! We’re passionate about helping you find a home that fits your lifestyle and budget—and we can’t wait to get started.

Contact us today at The Bouma Group, Realtors and take the first step toward your new Ann Arbor Condo! 734-761-3060 or info@condohotline.com