[pc86]

It looks like the big issue with Ann Arbor is supply. I just pulled up Chicago Zillow for this criteria (1-1.25k sqft, 2 bed exact, 1+ bath, condos only, for sale not rent) and am having trouble finding one for more than $700k. Lots in the $350-400k range. Overall there are hundreds, with almost every block having at least one in the "nice" downtown area.

Leaving criteria the same and switching to Ann Arbor, I see four, with only one of them actually being downtown, for $725k (but the other three are all under $300k). I would consider Ann Arbor more expensive than Chicago, at least for this type of unit, but not necessarily because there's more demand.

[randcraw]

A2 has surprisingly high demand for small condos. Many affluent parents like to buy them for their children while they attend UofM, or as alumni to attend college sports events (since UofM is a big sports Mecca), or as retirees to be close to campus/city activities and amenities.