What is plausibly driving a condo-specific gap

The report does not attribute causes, so this is inference — but the candidates are all things a board can name:

• Assessments have risen faster than mortgage payments. A buyer prices monthly cost, and an assessment increase moves that number as surely as a rate rise does.
• Insurance. Master policy premiums have risen sharply, and they arrive in the assessment.
• Financeability. Limited Review was retired on 3 August 2026, pushing more established projects into Full Review. A project that cannot pass it has a materially smaller buyer pool, and the effect shows up as days on market before it shows up as price.
• The reserve question, arriving early. The 15% reserve floor applies to loan applications dated on or after 4 January 2027 — which means a unit listed in autumn 2026 for a spring closing is already inside the window.

The number that actually matters

Not the median price. Days on market for units in your own project, against the local condominium median. A project selling materially slower than its market has a project-specific problem, and it is almost always one of four: assessments, reserves, financeability, or a visible deferred-maintenance issue.

All four are things a board influences. None of them is influenced by hoping.

What a board can do that actually moves it

1. Have the lender questionnaire answered before a unit lists, not after an offer. A project that takes three weeks to produce a completed questionnaire loses financed buyers to projects that take three days.
2. Know your Condo Project Manager status. A project flagged “Unavailable” is ineligible for sale to Fannie Mae, and boards routinely discover the flag from a collapsed closing.
3. Have a current reserve study that is not on a baseline funding method. Baseline funding has been unacceptable for GSE purposes since 3 August 2026, so a study built on it will not support a compliant budget.
4. Publish the reserve position to owners annually. Michigan does not require it — House Bill 5784 would, and it has never had a hearing. Doing it voluntarily is what lets a seller answer a buyer's question with a document.

Other Michigan market points, each single-sourced

Use these with attribution rather than as established facts. Farmington Hills, June 2026: condominium median $294,000, 32 days on market. Detroit condominium supply as of 30 June 2026: 7.7 months, the lowest since early 2022, attributed to luxury inventory selling through. Statewide, all housing types, May 2026: median $293,956, up 5.4% year over year, 33 median days on market.

And a structural figure worth carrying: Michigan's housing stock has a median age of about 53 years, against a national median of 45. That is the number underneath most of the rest.

What to watch next

The first quarter of 2027, when the 15% reserve requirement applies to live loan applications. If Michigan condominium days on market widen further against detached housing in that quarter, the financeability explanation gets considerably stronger.