New Price – Ann Arbor Condo

Picture of Condo Living Area

1795 Hideaway Ln. Ann Arbor, MI 48105

$225,000

Immaculate townhome with spectacular views of Traver Creek & Leslie Pond! Gleaming hardwood floors greet you as you enter & continue throughout the living/dining areas and second floor. Galley-style kitchen with an abundance of extended maple cabinets, stainless appliances & breakfast bar. Spacious living/dining area with sliding door to private patio. 2 bedrooms, with California closets, full bath with dual sinks, tub/shower. Partially finished basement has family room with drop ceiling, separate laundry room with storage. Close to Medical Center. Reserved parking in front of unit.

2019 Real Estate Recap

2019 was a year of change both nationally and in the local real estate market. Nationally, sales of existing homes were up 4.6% and home prices were up 3.5%. Locally, our market was very similar, as 2019 saw more homes for sale, and modest appreciation. Both of these were welcome after a few years of historic lows for inventory and rocket-powered price escalation.

What is fueling the continued interest in real estate? Interest rates made a move back down after several months of increases. Buyer’s incomes have increased, leading to an all-time low payment as a percent of income of 15.2%. Part of this is buyers being more frugal and less willing to extend themselves. This has driven strong demand for house under $300,000 where quality inventory remains challenging.

New construction saw a resurgence with permits issued at the highest level since the start of the economic decline in 2007.

Millennial buyers are purchasing their first of second homes, and Gen Z buyers are starting their first home search. 35% of homebuyers in 2019 were under 35 years old.

Check out the graphic below for some more interesting facts.

Infographic of interesting facts about the 2019 real estate market.

Saline New Construction

Want to start 2019 with a new home? We have brand new condos and single family homes waiting to be built to your specifications. Customize any of our plans or bring your own – our builder can make your dreams come true. Contact me today to discuss your new home.

Is this your dream home?