A national survey conducted by Coldwell Banker revealed that Ann Arbor, Mich., is one of the 10 fastest-growing residential markets. So it came as no surprise when the Ann Arbor Area Board of Realtors announced the good news: The city's real estate companies posted a record year in 1997. Ann Arbor Realtors sold 7.8 percent more homes in 1997 than they did the year before, an increase which kept the schedules of both Realtors and builders booked solid throughout 1997. David Lutton, president of the Charles Reinhart Co., one of the area's largest real estate companies, told the Ann Arbor News: "We're busy as we can be. It's been a robust year,"

Consider the following statistics from the Ann Arbor Area Board of Realtors: In the last five years, the number of homes sold in Ann Arbor increased from 2,732 to 3,083, a 13 percent change. During that same period, Ann Arbor's median home price increased from $120,000 to $150,000, representing a 25 percent gain. Mortgage interest rates, on the other hand, have plunged, helping to offset increased home prices. Rates decreased from approximately 9 percent in 1994 to 6.6 percent in January.

But aside from good economic conditions, what's drawing people to Ann Arbor and keeping them here? For starters, an excellent educational system. Ann Arbor is, of course, known first and foremost for the University of Michigan, the "city within the city," and a built-in insurance policy for Ann Arbor's economic future. Comprised of 36,687 students at last count, U of M provides one job for every three adults in Ann Arbor. The university wields considerable cultural power in Ann Arbor. U of M's cultural events, featuring both local and visiting artisans, writers, musicians, and other public figures, are a boon for tourism; and the university's size and diversity attracts students and professors from all over the world -- many of whom decide to attend and teach at the university, and ultimately hang their hats in Ann Arbor, as well. Other universities in the Ann Arbor Area include Cleary College, Concordia College, the large and also distinguished Eastern Michigan University, and Washtenaw Community College.

Ann Arbor contains a myriad of neighborhoods, all with their own distinct character. Some city planners have complained that Ann Arbor suffers from a lack of regional coordination -- such as multidistrict transportation systems or water systems -- but home-buying rates throughout Ann Arbor indicate that even if residents agree, that concern is not enough to slow the housing boom.

Ann Arbor's Old West Side neighborhood has been placed on the National Register of Historic Places in recognition of both its architecture and the historic flavor that pervades this neighborhood. Residents have painstakingly preserved their homes; most of them are small and Victorian-style, although the Old West Side does contain a few larger homes more than 125 years old. These tree-lined streets are home to many young professionals, including many university faculty, and students. Home prices on the Old West Side range anywhere from $90,000 to $250,000, accommodating its diverse demographics.

The Northbury/Chapel Hill neighborhood was once the site of the Bolgos family farm and dairy. Today, it's a broad mix of subdivisions, apartment complexes, and condominiums. Newport, located on Ann Arbor's far northwest side, resembles a somewhat rural setting. These former farmlands, bordered by the Huron River on the north and east sides, are now home to affluent subdivisions of single-family colonials, ranches, and condominiums. Along its edge are several sprawling farmhouses and ranches built during the 1950s. Newport is dominated by owners; you'll be hard-pressed to find any renters here. Subdivisions are big in Ann Arbor, and Newport is no exception. The River Ridge subdivision, for example, contains large homes priced at $240,000 to $400,000 and above.

While Ann Arbor gives residents and visitors plenty of reasons to stick around, the country life awaits adventuresome types a mere 30-minute drive away. Pick any direction, and you'll find the relics of a more leisurely existence: horse ranches, antique shops, cider mills, and aging barns. The town of Dexter, for example, is home to Michigan's oldest continuously running cider mill. The Raisin River cuts its way through the middle of Manchester, a town whose 19th century history has been carefully preserved. Within one four-block area of the village's Main Street sit five state historic markers. Manchester also is home to Sharon Mills Winery, Alber's Orchard, and the Manchester Blacksmith Shop. The town of Saline is revered for its antique shops, and in particular the Ann Arbor Antiques Market. You'll find the Davenport-Curtiss Mansion here, too, which was built in 1870 by one of Saline's earliest entrepreneurs. A stroll along North Ann Arbor, Monroe, and Henry streets reveals classic examples of post-revolutionary and Victorian architecture. And fans of cornbread will want to make a stop in Chelsea, the birthplace of Jiffy Mix, the country's first prepared baking mix which continues to serve as a godsend to harried cooks. The Purple Rose Theater, a much-loved regional playhouse founded by actor Jeff Daniels, is also in Chelsea.

For more information about Ann Arbor, check out these lively Web sites:

Michigan Live

Arborweb

Published: March 26, 1998

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