Current Real Estate Market Report ~ Rockford Michigan ~ July 2009
Current Absorption Rate for Rockford Michigan is 8 months
on average, which means if no new listings come on the market,
it will take 8 months to sell current inventory.
The under $200K market is moving faster than the over $200K.
Homes less than $200,000 since May 1, 2009 sold prices appear
to be selling for slightly more in Rockford Public School District
last month. Foreclosure & bank owned homes could be keeping
the figures down.
The over $200K market has taken a slight increase in average
sold price from last month. All good signs for Rockford sellers.
255 Active Rockford MI Listings under $200,000
Sold Rockford Homes: 76
Pending Rockford Homes: 51
Average sold price $ 133,794
High Sold price $196,000
Low Sold price $46,200
Average Sold Price/SqFt $100.79
Over $ 200,000 Rockford MI Homes
227 Active Rockford MI Listings
Sold Rockford Homes 35
Pending Rockford Homes 15
Average Rockford List Price: $ 370,115
Average Rockford Sold Price: $ 259,634
Average Sold Price/SqFt $ 136.68
High Sold Price $ 548,000
Low Sold Price $200,000
Inventories have increased with the summer market and sales are
starting to take off in Rockford over the last 3 months. The absorption
rate is 8 months which is a normal market range for our area.
It appears that smaller homes are selling faster than the larger ones.
This is true across our market area, as people reassess their housing
needs. It appears that many are choosing to downsize in this economy.
It is important that you have your home in great condition
and priced correctly. Over-priced homes and tired looking homes
will not sell for top dollar in this buyer's market.
If you have any questions about Rockford or
Grand Rapids MI homes, please contact me directly:
1-888-240-1968 ext 0
email: terry@terrywestbrook.com
Rockford Michigan Real Estate Market Report ~ June 2009
Rockford Michigan Top Best Home Buys ~ July 2009
Rockford Michigan Video Tour
Grand Rapids -Ada Real Estate - Westbrook Realty
Copyright 2009 All rights reserved
Photo of Rockford Public Library - Downtown Rockford by Bonnie Westbrook
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The authors of the this blog write about Grand Rapids Real Estate, the Greater Grand Rapids MI area,
and what it is like to live in West Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan
area with a diverse business community, great medical research & services, numerous universities,
plus lively arts and entertainment of all kinds. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
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Thanks for sharing your information with us today. Have a great weekend.