Lowell Michigan Real Estate Market Report ~ March 2009
Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.
It has really grown in the last 20 years, in many ways. Lowell has a great
school system, a thriving business community, a lively arts society, and
is one of the best kept secrets in Kent County.
These are the statistics for home sales in the Lowell School District.
Lowell Michigan Absorption Report March 2009
Active Listings: 152 Active Listings
Average Price: $259,353
Price per Sq Ft: $128.58 (Main Floor only)
Average days on the Market: 93
PENDING: 20 homes
SOLD: 55 Sold Homes
Average Price: $ 131,478
Average Price Per Sq Ft: $ 78.63 (Main floor only)
Average Days on the Market: 47
Expired: 43 Expired listings
Average Expired Price: $216,756
Average Price Per Sq Ft: $132.56 (Main floor only)
Average Days on the Market: 109
Absorption Rate for Lowell Listings is 14.2 months for the
current housing inventory. If no other homes enter the market, it
will take 14.2 months for the current homes to sell at the current
rate of sales.
Lowell Homes that are priced competitively are selling and selling
fairly quickly compared to the greater Grand Rapids area.
As you can see by the statistics, the homes that have their price
per square foot under $80 are seeing the most activity. There are
quite a few foreclosure or short sale homes which are bringing
down the average sales price and square footage rates lower than
they might normally be.
Some sellers have retired from the market and will try again soon,
filling an already saturated market.
They might find a better buying market, but prices are
still on the downward trend. Today's buyer is looking for a
well priced bargain in great condition.
If you would like additional information about Lowell
Area Homes, please contact me through email or my web site.
Grand Rapids Ada Real Estate ~ Westbrook Realty
Copyright 2009 All rights reserved
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