What Should You Know About Condo Inspections in Ann Arbor?

Quick answer: A condo inspection in Ann Arbor evaluates the unit’s interior systems, including electrical, plumbing, HVAC, and structural elements. It excludes exterior building components typically maintained by the HOA. Buyers should always get one to avoid costly surprises, while sellers benefit from pre-listing inspections that build buyer confidence and speed up closings. Reviewing HOA documents and reserve funds alongside the inspection gives you the full picture of a condo’s true condition.

Buying or selling a condo in Ann Arbor comes with its own unique rhythm compared to single-family homes. You’re not just evaluating four walls and a roof; you’re stepping into a shared community with collective responsibilities, shared amenities, and a homeowners association that plays a significant role in your day-to-day living experience. That’s why condo inspections matter so much, yet they’re often misunderstood or overlooked entirely.

Whether you’re eyeing a stylish loft near Kerrytown or a low-maintenance unit near campus, understanding what a condo inspection covers can help you avoid unpleasant surprises down the road. This guide outlines everything Ann Arbor condo buyers and sellers need to know, including a few often-overlooked details: HOA documents, reserve funds, and how Michigan’s condo laws shape the entire process.

Why Should a Buyer Get a Condo Inspection?

A condo inspection gives buyers a clear, professional assessment of a unit’s actual condition before closing. Even a beautifully staged unit can hide plumbing issues, electrical quirks, or HVAC systems nearing the end of their lifespan.

For Ann Arbor buyers specifically, inspections matter because some older condo buildings, especially those in historic areas like the Old West Side or converted buildings downtown, may have older infrastructure. An inspection helps you:

Avoid costly surprises: Identifying issues before closing means you can negotiate repairs or price adjustments rather than footing the bill after you’ve already signed.
Gain negotiating leverage: A detailed inspection report gives you concrete data to request credits or repairs from the seller.
Protect your investment: Condos are a significant financial commitment. An inspection confirms you’re paying a fair price for the unit’s actual condition, not just its curb appeal.
Understand ongoing maintenance needs: Knowing what’s aging or nearing replacement helps you budget for future repairs.

Skipping this step is one of the most common mistakes a condo buyer can make.

What Does a Condo Inspector Actually Look For?

A condo inspector focuses primarily on the interior of the unit, since exterior structures and common areas typically fall under the HOA’s maintenance responsibilities. During a standard inspection, expect the inspector to evaluate:

Interior Systems and Structure

Electrical systems: Outlets, wiring, panel condition, and code compliance.
Plumbing: Water pressure, pipe condition, signs of leaks, and water heater functionality.
HVAC systems: Furnace and air conditioning performance, age, and maintenance history.
Structural elements: Walls, ceilings, and flooring for signs of damage, settling, or water intrusion.

Safety and Function

Smoke and carbon monoxide detectors
Windows and doors for proper sealing and function
Signs of mold, pest activity, or moisture damage
Kitchen and bathroom fixtures and appliances

What’s Typically Excluded

Unlike a single-family home inspection, a condo inspection generally won’t cover the roof, exterior siding, shared hallways, elevators, or landscaping. These fall under the HOA’s purview and are usually addressed separately through HOA maintenance records and reserve fund reports.

How Does a Condo Inspection Benefit Buyers?

Beyond simply identifying problems, a condo inspection gives Ann Arbor buyers real peace of mind. Here’s what that looks like in practice:

Informed decision-making: You’ll know exactly what you’re buying before you commit, reducing buyer’s remorse.
Financial protection: Catching issues early prevents unexpected repair costs after move-in.
Stronger negotiating position: Inspection findings often translate into price reductions, repair credits, or seller-funded fixes.
Confidence in your purchase: Especially for first-time condo buyers, an inspection report demystifies the condition of the property and builds confidence in the final decision.

How Does a Condo Inspection Benefit Sellers?

Sellers often overlook the value of a pre-listing inspection, but it can be one of the smartest moves in a competitive Ann Arbor market. Consider these advantages:

Faster closings: Addressing issues before listing reduces the chance of last-minute negotiations derailing your sale.
Increased buyer confidence: A clean inspection report (or one paired with completed repairs) reassures buyers and can lead to stronger offers.
Fewer surprises during buyer inspections: Knowing what a buyer’s inspector will find allows you to address issues on your terms and timeline, rather than reactively.
Potential for a smoother sale price: Units with documented, resolved issues tend to sell closer to asking price than those with unresolved inspection findings that emerge mid-negotiation.

For sellers preparing to list, working with a knowledgeable Realtor who understands Ann Arbor’s condo market can help you decide whether a pre-listing inspection makes sense for your specific building and situation.

How Is a Condo Inspection Different From a Home Inspection?

While both inspections aim to assess a property’s condition, condo inspections differ from single-family home inspections in a few key ways:

Aspect	Condo Inspection	Home Inspection
Scope	Interior unit only	Entire property, including exterior
Roof & Exterior	Excluded (HOA responsibility)	Included
Shared Systems	Not typically inspected	N/A
HOA Documents	Reviewed separately	Not applicable
Common Areas	Assessed through HOA records, not physical inspection	N/A

Choose a condo-specific inspector if the property is part of an HOA-managed building, since they’ll understand which elements fall outside their scope and can direct you toward reviewing the right HOA documentation instead.

What Else Should Buyers and Sellers Consider?

A physical inspection only tells part of the story. To fully understand a condo’s condition and financial health, buyers and sellers alike should also pay attention to:

Reviewing HOA Documents

HOA documents reveal a building’s financial stability, rules, and any pending litigation or special assessments. Request meeting minutes, budgets, and bylaws before finalizing a purchase; these documents often reveal issues that a physical inspection simply can’t detect.

Understanding Reserve Funds

A condo association’s reserve fund covers major future repairs, like roof replacements or elevator upgrades. A poorly funded reserve can mean higher HOA fees or unexpected special assessments down the road. Ask for the most recent reserve study to see whether the fund is adequately prepared for upcoming expenses.

Common Area Responsibilities

Understand what the HOA maintains versus what falls on individual owners. This distinction affects both your inspection scope and your long-term maintenance budget.

Michigan-Specific Condo Laws

Michigan’s Condominium Act (MCL 559.101 et seq.) governs how associations operate, including disclosure requirements sellers must follow. Buyers should ask whether the association has provided a disclosure statement as required under Michigan law, since this document often includes financial and legal details relevant to your decision.

Ready to Move Forward With Confidence?

Condo inspections in Ann Arbor go beyond a simple checklist. They’re about understanding not just the unit itself, but the community and financial structure behind it. Buyers who combine a thorough inspection with careful review of HOA documents and reserve funds walk into their purchase with clarity and confidence. Sellers who prepare ahead of time position their condo for a smoother, faster, more profitable sale.

If you’re navigating a condo purchase or sale in Ann Arbor, partnering with the right Realtor makes all the difference. The Bouma Group, Realtors, are Ann Arbor’s condo experts who are known for selling more condos in Ann Arbor than anyone else. Reach out today at 734-761-3060 or info@condohotline.com, and let’s make sure your next move is backed by the right information and expert guidance every step of the way.

Frequently Asked Questions

Do I need a special inspector for a condo, or can I use a regular home inspector?
Look for an inspector with condo experience specifically, since they’ll understand the limited scope of what’s covered, interior systems only, and won’t waste time (or your money) evaluating exterior elements maintained by the HOA.

How much does a condo inspection cost in Ann Arbor?
Condo inspections generally cost less than full home inspections since they cover a smaller scope, though exact pricing varies by inspector and unit size. Contact a local inspector for a quote specific to your property. Call us for a list of our favorites!

Can a condo sale fall through because of inspection findings?
Yes. Significant issues uncovered during an inspection can lead buyers to renegotiate, request repairs, or walk away entirely. Pre-listing inspections benefit sellers because they reduce the chance of surprises derailing a deal.

What’s the difference between HOA fees and reserve funds?
HOA fees cover day-to-day operating costs like landscaping and staffing, while reserve funds are set aside specifically for major future repairs, such as roof replacements or structural upgrades.

Are sellers in Michigan required to disclose known issues with a condo?
Yes. Michigan law requires sellers to provide certain disclosures, and condo associations may also need to share financial and legal documents under the Michigan Condominium Act. Buyers should request these documents early in the process.

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

4214 Packard #2, Ann Arbor Condo at Arbor Heights

Photo courtesy of the MLS

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

Photo courtesy of the MLS

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

Downtown Ann Arbor Condo Market Update: Q1 2026

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

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

The Shifting Downtown Landscape

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

New Construction and Future Developments

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

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

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

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

Active Resale Inventory Dips

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

Q1 2026 Closed Sales Breakdown

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

212 Miller Avenue

Three new construction units closed in this building:

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

410 First Condos

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

542-548 N. Main Condos

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

515 N. Fifth Condos

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

Liberty Lofts

Two sales closed in this popular building:

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

Ashley Terrace Condos

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

Navigate the Market with Confidence

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

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

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

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.

Downtown Ann Arbor Condo Market: Q3 2025 Review

The vibrant heart of Ann Arbor is its downtown, and the condo market here has a rhythm all its own. As we look back on the third quarter of 2025, the data paints a clear picture of a dynamic and desirable market. For nearly 40 years, The Bouma Group has kept its finger on the pulse of this unique real estate landscape. Our deep-rooted knowledge allows us to offer unmatched insights, and we’re excited to share what we’ve seen from July through September.

For anyone considering buying or selling a downtown condo, understanding these trends is the first step toward making a smart, confident decision. Let’s dive into the numbers and explore what they mean for you.

Q3 2025 Downtown Condo Market by the Numbers

The third quarter showed steady activity, reflecting continued demand for the downtown lifestyle. A total of 17 condos were sold, showcasing a healthy turnover of properties. The market catered to a wide range of buyers, from those seeking cozy urban nests to those investing in luxurious, high-end residences.

Here’s a snapshot of the key statistics:

Average Sale Price: $611,223
Median Sale Price: $552,500
Average Days on Market: 46

The average of 46 days on market indicates that well-priced and well-marketed properties moved efficiently. Buyers were decisive, but not frantic, creating a balanced environment for transactions. The relationship between the average and median sale prices suggests that while the luxury market is strong, the core of the market remains robust and accessible.

Market Highlights: Highs and Lows

The diversity of the downtown market was on full display this quarter. The highest-priced sale was a stunning unit at The Gallery, closing at an impressive $1,250,000. This sale highlights the strong appetite for premium, modern living with high-end finishes and amenities that premier buildings like The Gallery provide.

On the other end of the spectrum, the lowest-priced sale was at Tower Plaza for $284,900. This demonstrates that the dream of living downtown is attainable at various price points. Tower Plaza continues to be a popular choice for those wanting a prime location and a manageable footprint.

The Luxury Segment Shines

The luxury condo market showed significant strength in Q3. A total of three condos sold for over $1 million. This is a powerful indicator of the value buyers place on downtown Ann Arbor’s sophisticated urban lifestyle. These sales, including the top sale at The Gallery, underscore the demand for properties that offer exceptional quality, space, and location. As experts in this niche, The Bouma Group understands the nuances of marketing and negotiating these high-value properties to achieve outstanding results for our clients.

Hot Spots: Where are Condos Selling?

Certain buildings consistently capture buyer attention, and this quarter was no exception. Several key complexes saw multiple sales, pointing to their enduring appeal.

Ashley Terrace: A Center of Activity

With three sales in Q3, Ashley Terrace was one of the quarter’s most active buildings. Its central location, modern design, and mix of unit sizes make it a perennial favorite. Buyers are drawn to its convenience and the quality of life it offers, just steps from Main Street’s dining and shopping.

Ashley Mews, Nielsen Square, and Tower Plaza

Other notable buildings also saw significant activity. Ashley Mews and Nielsen Square each recorded two sales. Ashley Mews is beloved for its elegant, townhome-style living, offering a bit more privacy and space while still being in the middle of it all. Nielsen Square, situated in the charming Kerrytown district, appeals to those who love the area’s unique character and proximity to the farmers market.

Tower Plaza also saw two sales, reinforcing its position as a go-to for buyers seeking value and an unbeatable location adjacent to the University of Michigan’s campus.

Your Downtown Ann Arbor Condo Experts

For nearly four decades, The Bouma Group has been the definitive source for downtown Ann Arbor real estate. Our market knowledge isn’t just about data; it’s about understanding the story behind the numbers. We know the unique personality of each building, the history of sales, and how to position our clients for success. Whether you’re buying your first condo or selling a multi-million dollar penthouse, we’ve got you covered.

Navigating this competitive market requires more than just access to listings. It requires expertise, strategy, and a trusted partner who has seen it all. Our team is dedicated to providing that level of service. We want to ensure that you feel confident and empowered throughout your real estate journey.

Are you thinking about making a move in the downtown Ann Arbor condo market? Whether you’re curious about your condo’s current value or looking to find the perfect new home, we’re here to help you make it happen.

Contact The Bouma Group, Realtors today at 734-761-3060 or email us at info@bouma.com to start the conversation. Let our expertise be your advantage.

Ann Arbor Condo Market: Q3 2025 Recap and Sales

Ann Arbor’s Q3 2025 Condo Market Recap

Welcome to our third-quarter report on the Ann Arbor condo market! The months of July, August, and September have revealed an active landscape for condo living in our city. This quarter highlighted the incredible variety available, from efficient and affordable units perfect for first-time buyers to stunning luxury residences in the heart of downtown. We are excited to share the latest trends and showcase some of the key sales that defined the last few months.

The data from Q3 2025 shows a healthy and competitive market. A total of 141 condos were sold, indicating consistent buyer interest. With an average of just 35 days on the market, well-priced properties moved at a brisk pace. This activity demonstrates that now, more than ever, having an expert team by your side is crucial for success. Let’s dive into the details!

A Snapshot of the Ann Arbor Condo Market in Q3 2025

This past quarter underscored a market where desirable condos attracted significant attention and sold quickly. The average sale price for the quarter reached $438,181, with the median sale price settling at $401,825. These figures reflect the strong value and appeal of condo living in Ann Arbor, which offers a low-maintenance lifestyle with access to the city’s best amenities.

The speed of sales tells a compelling story. 67% of condos sold within the first 30 days, achieving an average of 99% of their original asking price. This signals that buyers are ready to act fast for well-priced properties. Another 16% of condos sold within 31 to 60 days at 96% of their list price, while 8.5% sold between 61 and 90 days, securing 90% of the list price. These statistics paint a picture of a market that rewards sellers who present their properties effectively.

The luxury condo market also made its mark, with four condos selling for over $1,000,000. This demonstrates the desire for high-end, maintenance-free living in premium locations.

Exploring the Condos of Q3

Behind every number is a property with its own unique appeal. Let’s take a closer look at four condos that represent the full spectrum of the market this quarter, from the most accessible to the most luxurious.

The Most Expensive Condo Sold: 441 S. Ashley #306

Evening photo of The Galley Condo building in downtown Ann Arbor

Photo courtesy of the MLS

At the top of the market, this stunning residence at The Gallery in downtown Ann Arbor sold for an impressive $1,250,000. This sale is a perfect example of the high demand for luxury urban living. We are so proud that our very own Stephanie Roberts from The Bouma Group brought the buyer to this incredible property, ensuring they found their perfect home.

Sale Price: $1,250,000
Square Feet: 1,894
Bedrooms/Baths: 3 bedrooms, 2 full baths
Key Features: Located at The Gallery, this condo offers sophisticated downtown living with premium finishes and a prime location.

An Average-Priced Gem: 2115 Nature Cove Court #202

Representing the average price point this quarter, this beautiful condo in the Nature Cove community sold for its full list price of $435,000 in just 15 days. Its swift sale highlights the strong appeal of spacious, well-located condos.

Sale Price: $435,000
Square Feet: 2,018
Bedrooms/Baths: 2 bedrooms, 2 baths
Key Features: This property offers generous living space in a serene community, combining comfort with a connection to nature.

A Median-Priced Condo: 2231 Trillium Lane 33

Sketch of condo at Veridian at County Farm Park that is being built

Photo courtesy of the MLS

This median-priced condo, part of the exciting new Veridian at County Farm community, sold for its full price of $401,825. As a new construction unit, it represents the future of sustainable living in Ann Arbor.

Sale Price: $401,825
Square Feet: 835
Bedrooms/Baths: 2 bedrooms, 1 bath
Key Features: This condo is part of a groundbreaking Net Zero Energy community, offering cutting-edge efficiency and modern design. It was on the market for 115 days, which is typical for new construction projects awaiting completion.

The Least Expensive Condo Sold: 2154 Stone School Circle

End-unit condo at Stone School Townhomes community in Ann Arbor

Photo courtesy of the MLS

This home at Stone School Townhomes demonstrates the fantastic entry-level opportunities in Ann Arbor’s condo market. It sold for its full asking price of $120,800 after 37 days on the market, offering incredible value.

Sale Price: $120,800
Square Feet: 732, plus 329 in the finished lower level
Bedrooms/Baths: 2 bedrooms, 1 full bath
Key Features: This townhome provided an affordable entry point into the market with valuable bonus space in the finished lower level.

What This Means for You

The third quarter of 2025 has confirmed that Ann Arbor’s condo market is dynamic and full of opportunity. For sellers, the current conditions are highly favorable, with strong demand leading to quick sales at excellent prices. For buyers, the market is competitive, but a wide range of options exists across all price points. Success in this environment requires timely action and the guidance of a seasoned professional.

Whether you are considering buying your first condo, selling your current residence, or investing in a luxury downtown property, our team at The Bouma Group is ready to guide you. We have the expertise, market knowledge, and dedication to help you achieve your real estate dreams.

Contact us at The Bouma Group, Realtors today at 734-761-3060 or info@condohotline.com to start the conversation about your next move! Browse Ann Arbor Condo Communities here!

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:

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).
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.

Maximize Your Ann Arbor Condo Search with Condo Hotline

When it comes to finding the perfect condo in Ann Arbor, diligent research can make all the difference. However, navigating the condo market can be overwhelming, with so many communities, amenities, and listings to explore. That’s where Condo Hotline comes in. It offers a user-friendly platform that empowers Ann Arbor condo buyers with the tools they need to find their dream home, all in one convenient place.

The All-in-One Solution for Ann Arbor Condo Buyers

Condo Hotline is your one-stop shop for everything you need to know about Ann Arbor condos. Whether you’re seeking detailed information or inspiration for your search, Condo Hotline provides access to essential resources for informed decision-making. Here’s what you’ll find on the platform:

Comprehensive Community Information – Learn about Ann Arbor condo communities, their amenities, and what makes each one unique.
Community Photos and Descriptions – Get a feel for each condo community with in-depth descriptions and photos that bring the neighborhoods to life.
Real-Time Listings – View units currently for sale in your desired communities and find the options that best suit your preferences.
Interactive Maps and Site Maps – Whether you’re navigating downtown or looking for the perfect suburban location, Condo Hotline’s maps help you visualize each community and its surroundings.
Floor Plans and Bylaws – Get access to important details like floor layouts and community bylaws to ensure everything meets your expectations.

By consolidating all of this information, Condo Hotline eliminates the hassle of jumping between platforms. It’s all here, ready for you to explore.

Empowering Buyers with Smart Tools

Condo Hotline isn’t just about providing information—it’s designed to give buyers an edge in today’s competitive Ann Arbor condo market. Our platform offers powerful tools tailored to your condo-buying needs, including:

Instant Listing Alerts: Stay ahead of the game by signing up for notifications when new condos hit the market in your preferred communities.
Downtown Ann Arbor Market Reports: Gain insight into current market trends, pricing, and the state of the local real estate market.
Interactive Maps for Your Search: Search communities across Ann Arbor with an easy-to-use map feature that puts you in control.

These tools empower buyers to act quickly and confidently, making the search for your dream condo seamless and efficient.

Expert Insights at Your Fingertips

Condo Hotline goes beyond listings by offering an extensive collection of resources to help you make informed decisions. Our blog features over 100 articles covering topics like:

Buying and selling strategies tailored to the Ann Arbor condo market.
Financing and mortgage advice for buyers.
Guides on new condo developments in Ann Arbor.
Insights into why Ann Arbor is one of the best places to live.

Whether you’re new to the market or a seasoned buyer, our blog offers in-depth knowledge to enhance your condo-buying experience. It’s like having a trusted advisor right at your fingertips.

Why Ann Arbor Condo Buyers Love Condo Hotline

By combining an easy-to-navigate platform, expert insights, and useful tools, Condo Hotline provides everything you need to streamline your search. The platform doesn’t just save time and energy—it ensures better outcomes by enabling smarter decision-making.

Imagine finding your perfect condo while feeling confident about every step of the process. That’s what Condo Hotline offers.

Start Your Journey with Condo Hotline

Finding the right condo in Ann Arbor doesn’t have to be a daunting task. With Condo Hotline, you’ll have access to all the tools, insights, and details you need to make your search stress-free. For any Real Estate questions, contact The Bouma Group today at 734-761-3060 or info@bouma.com.

Visit Condo Hotline today to explore Ann Arbor condos, set up listing alerts, and learn more about the market. Your dream condo could be just a few clicks away!

Ann Arbor Condo Market Update – Fall 2024

A Deep Dive into Ann Arbor Condo Market Trends in 2024

Ann Arbor’s condo market is bustling with activity as we move through 2024. In the first three quarters alone, the data shows interesting patterns and trends that both current condo owners and potential buyers should consider. Here’s a detailed look at what you need to know.

Overview of the Ann Arbor Condo Market

New Listings: 604 new listings have been recorded, representing a modest increase of 1.7% compared to the same period last year.
Pending Sales: There have been 482 pending sales, showing a slight dip of 1%.
Closed Sales: 470, marking a decrease of 2.5%.
Days on Market: Condos are selling faster, with an average of just 35 days on the market, an impressive drop of 35%.

Pricing Trends

Median Sales Price: The median sales price has increased by 13%, now standing at $356,000.
Average Sales Price: This year, the average sales price has risen to $416,563, which is a 7% increase.
Percent of List Price Received: Sellers are receiving on average 100.8% of their asking prices, a slight decrease of 0.5%.

Downtown Ann Arbor Condo Market

Currently Active: There are 36 active listings in downtown Ann Arbor.
Pending Listings: 26 condos are currently under contract.
Sales Activity: There have been 77 closed sales. Notably, seven of these sales have been over $1,000,000, including four new construction units.
Affordable Options: For those seeking more affordable options, 30 units sold under $300,000, predominantly located in Tower Plaza.
Median and Average Sales Prices: The median sales price is $451,000, and the average sales price is $534,562.

Spotlight on Notable Sales

Most Expensive Condo Sold

101 N. Main St. #906, Downtown Ann Arbor
One North Main Condos
2,316 square feet with 3 bedrooms and 2 baths
Listed for $1,195,000
Sold for $1,625,000
13 days on market

The top-tier properties in Ann Arbor’s market continue to command significant attention. One of the most expensive condos sold this year was a luxurious unit in the heart of downtown, fetching well over $1,000,000 and showcasing the continued demand for high-end urban living.

Average Condo Sale

111 N. Ashley St. #604, Downtown Ann Arbor
Ashley Terrace Condos
863 square feet with 1 bedroom and 1 bath
Listed for $439,900
Sold for $420,000
27 days on market

The average condo sale in Ann Arbor reflects the broader trends of increasing prices, with typical units selling at around $416,563. These average-priced condos often offer a balanced mix of location, amenities, and value, making them appealing to a wide range of buyers.

Least Expensive Condo Sold

555 E. William St. #5L, Downtown Ann Arbor
Tower Plaza
430 square feet, studio with 1 full bath
Listed for $185,000
Sold for $185,000
1 Day on Market

At the other end of the spectrum, some of the least expensive condos, particularly in areas like Tower Plaza, provide affordable entry points into the Ann Arbor real estate market. These units, selling for under $300,000, offer great opportunities for first-time buyers or those looking for investment properties.

Key Takeaways for Buyers and Sellers

For buyers, the Ann Arbor condo market remains competitive, but opportunities exist across various price points. It’s essential to move quickly, given the reduced days on market. Sellers, meanwhile, can take advantage of the appreciating prices and quick sales, although it’s important to price realistically to ensure swift transactions.

Whether you’re considering buying or selling a condo in Ann Arbor, understanding these trends can help you make informed decisions. Stay tuned for more updates as the year progresses, and don’t hesitate to reach out if you’re ready to explore the Ann Arbor condo market further. Contact us today at The Bouma Group at 734-761-3060 or info@condohotline.com.

What You Should Know About Closing Costs

How to Plan Ahead for Closing Costs

What You Should Know About Closing Costs | MyKCM

Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the extra fees they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for.

What Are Closing Costs?

People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate:

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

In other words, your closing costs are a collection of fees and payments involved with your transaction. According to Freddie Mac, while they can vary by location and situation, they typically include:

Government recording costs
Appraisal fees
Credit report fees
Lender origination fees
Title services
Tax service fees
Survey fees
Attorney fees
Underwriting Fees

How Much Will You Need To Budget for Closing Costs?

Understanding what they include is important, but knowing what you’ll need to budget to cover them is critical, too. According to the Freddie Mac article mentioned above, the costs to close are typically between 2% and 5% of the total purchase price of your condo or home. With that in mind, here’s how you can get an idea of what you’ll need to cover your closing costs.

Let’s say you find a condo or home you want to purchase for the median price of $366,900. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,500 and $18,500.

Keep in mind, if you’re in the market for a condo or home above or below this price range, your closing costs will be higher or lower.

What’s the Best Way To Make Sure You’re Prepared at Closing Time?

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

Work with a team of trusted real estate professionals to understand exactly how much you’ll need to budget for everything. We can help connect you with a trusted, local lender, and together we can answer any questions you might have.

Bottom Line

It’s important to plan for the fees and payments you’ll be responsible for at closing. Let’s connect so I can help you feel confident throughout the process. Contact us today at The Bouma Group, Realtors at 734-761-3060 or info@condohotline.com.