Current Real Estate Market Report East Grand Rapids Michigan
Second Quarter East Grand Rapids Real Estate Market Report
5 Month Absorption rate for East Grand Rapids MI housing market
which means if no new listings come on the East Grand Rapids market, it will
take 5 months for the existing home inventory to sell. The Absorption rate is
in normal range for East Grand Rapids homes.
There are 119 active listings on the East Grand Rapids market,
a smaller inventory than 3 months ago ranging from
$67,000 to $3,500,000.
17 Pending Home Sales
53 Sold Homes with sold prices ranging from $ 72,800 to $ 1,050,000
Solds by Market Time
22 homes sold in the 0-30 days - 41.51%
9 homes sold in 31-60 days - 16.98 %
9 homes sold in 61-90 days - 16.98%
6 homes sold in 91-120 days - 11.32 %
7 homes sold in 120+ days - 13.21%
The lower end of this market (under $300K) is the busy end
of the sales in the East Grand Rapids market. Homes in the higher price
bracket are selling, but at a much slower rate and not at 2006 prices.
The good news for sellers is that over 50% of the homes that are priced
correctly are seeing 92-93% of list price and selling in less than 60 days.
Other Blog articles about East Grand Rapids:
East Grand Rapids Real Estate Market Reports
East Grand Rapids Michigan ~ America’s Hometown
Free Friday Night Movies in the Park
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