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

Lowell MI Chamber of Commerce sign

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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