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.
Townhomes: A Smart Solution for Today’s Buyers
Townhomes: A Smart Solution for Today’s Buyers – Especially First Time!
Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.
According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. One place you can usually find a smaller footprint— and sometimes better affordability —is in townhomes.
Why Townhomes Are Gaining Popularity
Townhomes typically cost less than single-family homes due to their more limited size. And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:
“In today’s market, affordability remains a key priority for homebuyers, making townhomes an attractive option because they are often priced more reasonably than single-family homes. It makes them especially appealing to first-time homebuyers on a tighter budget . . .”
So, if you’re trying to buy but feeling stuck because of rising prices, shifting your focus to townhomes could be one way to get into homeownership without maxing out your budget.
Builders Are Responding to the Demand
Builders have seen buyers’ appetite shift to smaller homes, and they’re adjusting to meet the demand. As Joel Berner, Senior Economist at Realtor.com, explains:
“Builders are making a concerted effort to provide smaller, more affordable inventory to the market in a way that the existing-home market cannot. Townhomes are a significant portion of that effort.”
And the numbers back it up. According to data from Realtor.com, townhomes now make up a bigger share of new construction listings than they did just a couple of years ago (see graph below):
That means, if you’re interested in this type of house, you have more choices than you would have had over the last few years. And more options that are potentially more affordable are definitely a good thing. It should make your search for your first home a bit easier.
Townhomes in Ann Arbor
From entry-level to luxury, Ann Arbor has a variety of townhomes to match every budget and lifestyle. Here are a few of the most popular in order of median sale price:
- Wellesley Gardens $287,500
- Alpine Condos $290,000
- Chapel Hill $292,500
- Georgetown Condos $305,000
- Geddes Lake $307,500
- Brentwood Square $322,500
- Barclay Park $394,000
- North Oaks $697,495
- Ashley Mews $925,000
- Main on the Park $1,700,000
Is a Townhome Right for You?
If you’ve been focused only on more traditional homes with their own yards, an agent can help you explore whether a townhome could work for you. Who knows, you may find out you love the lifestyle. A lot of people do. As an article from the National Association of Realtors (NAR) explains:
“Townhomes tend to cost less than single-family detached homes and can be appealing to young professionals who may desire medium-density, walkable neighborhoods.”
That’s because they’re lower maintenance, they can provide a sense of community with other residents, and they have their own unique amenities. Not to mention, they give you the chance to start building wealth through homeownership without the upkeep that comes with having your own detached, single-family home. And that can be great for first-time buyers who are a bit worried about the maintenance anyway.
But they also come with some other considerations, like dealing with noise through shared walls. If you’re a renter right now, maybe you’re used to that already. But these are the types of things you’ll want to think about. And that’s where an agent’s expertise comes in. They’ll help you weigh the pros and cons, so you understand how a townhome fits into your lifestyle and long-term goals before making your decision.
Bottom Line
If you’re struggling to find a home within your budget, it may be time to expand your search and consider options you haven’t before, like townhomes. Sometimes, compromising a little bit on space is worth it to get your foot in the door.
What matters most to you — space, location, or budget? Let’s figure out where you can flex to make homeownership happen. Contact us today at The Bouma Group, Realtors 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