East Grand Rapids Michigan Real Estate Market Report Jan - March 2010
Current Real Estate Market Report For East Grand Rapids Michigan
Absorption rate for East Grand Rapids MI housing market is currently
at 8 months, which means if no new listings come on the
East Grand Rapids market, it will take 8 months for the existing
home inventory to sell.
There are 157 active listings on the East Grand Rapids market,
typically a larger inventory in the spring ranging from
$74,999 to $2,995,000.
30 Pending Home Sales
28 Sold Homes with sold prices ranging from $ 63,000 to $ 599,000
for the first quarter of 2010 in East Grand Rapids housing inventory.
East Grand Rapids Homes up to $200,000
Active Listings – 48
Pending – 13
Sold – 16
Avg Sold Price – $158,230
Avg List Price – $158,696
East Grand Rapids Homes $200,000 to $300,000
Active Listings - 40
Pending – 10
Sold - 6
Avg Sold Price – $ 243,583
Avg. List Price - $249,530
East Grand Rapids Homes $ 300,001 to $450,000
Active Listings - 44
Pending - 5
Sold – 4
Avg Sold Price – $ 352,625
Avg List Price – $ 390,873
East Grand Rapids Homes $ 450,001 ++
Active Listings - 25
Pending – 2
Sold – 2
Avg Sold Price - $ 567,000
Avg List Price – $ 852,228
The lower end of this market (under $300K) is the busy end
of the sales in the first quarter. With the current lowest list price
at $ 74,999, it looks like the bargain basement days in EGR housing
are over. Homes in the higher prices are selling, but at a
slower rate. We are still seeing sold price erosion in the homes priced
over $200,000.
The Absorption rate is over the normal range for East Grand Rapids
homes by 2 months. This shows an uptick in inventory and no uptick
in sales to match.
East Grand Rapids Real Estate Market Reports
East Grand Rapids Michigan ~ America’s Hometown
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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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