Ann Arbor Co-Op

Just Listed in Colonial Square Cooperative

Not many 3 bedroom units come to market in this community, and this one boasts the half bath on the main floor. Updated kitchen and baths. Finished area in the basement for extra living space. Three bedrooms and a full bath upstairs. Easy, direct entrance in front and private deck out back. Lovely courtyard space off the deck and a playground nearby. Close to everything and the city buses stop nearby. Monthly co-op fee includes taxes. 

Advertisement of Townhouse for Sale

New Price – Ann Arbor Condo

Picture of Condo Living Area

1795 Hideaway Ln. Ann Arbor, MI 48105

$225,000

*** SOLD*** 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.