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
Photo Courtesy of the MLS
- 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
Photo Courtesy of the MLS
- 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
Photo Courtesy of the MLS
- 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
Photo Courtesy of the MLS
- 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.
Ann Arbor Condo Spring 2024 Market Update
Ann Arbor Condo Spring 2024
The Ann Arbor condo market is buzzing with activity as we advance into the Spring of 2024. The city, always evolving and dynamic, showcases its versatility in the real estate market. With a diverse range of available properties, from the most accessible to the pinnacle of luxury, there is movement across all segments.
Active listings sit at a substantial 80 condos. The market’s temperature can be further inferred from the 52 of these condos are already under contract, hinting at the high demand for living spaces in this vibrant city.
For those on the lookout for affordable options, Ann Arbor extends an inviting hand. Of the 25 condos listed under the $300,000 mark, a striking 80% are under contract—a clear message about the competitive nature of this price segment. The fact that the lowest-priced condo at $178,000 is also under contract is a testament to the allure of more reasonably priced homes, encouraging quick action from buyers.
The luxury market stands strong at the opposite end of the spectrum. A condo boasts the highest price tag at a whopping $1,950,000, setting a benchmark for the opulence available within Ann Arbor’s condo offerings.
New Construction Condos
New construction continues to play a significant role in Ann Arbor’s real estate narrative with 44 condos listed for sale. This marks an encouraging sign of growth, ensuring the market remains vibrant and caters to modern tastes and standards. Most remarkably, an overwhelming majority of these new properties—27 out of 44—are already under contract, a nod to their desirability and the city’s relentless appeal.
Sold Condos
So far this year, 111 condos have already sailed past the sold status. These units ranged from a more affordable $130,000 to a grand $1,400,000, indicative of the diverse buyers in the Ann Arbor market. For those eyeing the statistics, the average sale price sits at $411,611, with the average price per square foot rounding out at $301. These numbers aren’t just digits; they’re a benchmark of the value that Ann Arbor condos hold and a metric for prospective investors or homeowners to consider.
In summary, the Spring 2024 Ann Arbor condo market is lively and diverse. With a strong start to 2024, and the trend showing a weighted distribution towards seller advantage, now might be the perfect time to consider stepping into or moving up within this dynamic market. Whether you’re searching for affordability or opulence, Ann Arbor’s condos are opening their doors to meet you halfway. Contact us today for a curated list of units as soon as they hit the market at 734-761-3060 or info@condohotline.com.