Current Real Estate Market Report ~ Rockford Michigan ~ June 2009

Current Absorption Rate for Rockford Michigan is 7.5 months

on average, which means if no new listings come on the market,

it will take 7.5 months to sell current inventory.  This is a

50%. decrease from last month, so inventory is selling.

 

Rockford Public Library Rockford MI

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 still declining slightly, even though 126 homes sold in

Rockford Public School District last month.  Foreclosure & bank

owned homes could be tipping the figures downward.

The over $200K market has taken a 15% decrease in average

sold price from last month.

 

255 Active Rockford MI Listings under $200,000

Sold Rockford Homes: 40

Pending Rockford Homes: 57

Average sold price  $ 128,688

High Sold price $190,000

Low Sold price  $46,200

Average Sold Price/SqFt  $94.67

 

Over $ 200,000 Rockford MI Homes

220 Active Rockford MI Listings

Sold Rockford Homes  15

Pending Rockford Homes 14

Average Rockford List Price:  $ 365,519

Average Rockford Sold Price: $ 255,261

Average Sold Price/SqFt  $ 140.45

High Sold Price $ 410,000

Low Sold Price  $200,000

 

Inventories have increased with the spring market and sales are

starting to take off in Rockford over the last 2 months.  The absorption

rate is 7.5 months which is a normal market range for our area.

It appears that smaller homes are selling faster because the price

per sq ft has gone up while the average sale price has declined by

15% from last months report.  It is important  that you have your

home in  great condition and priced correctly. Over-priced homes

will not sell 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 ~ May 2009

Rockford Michigan Real Estate Market Report ~ April 2009

Rockford Michigan Real Estate Market Report ~ March 2009

Rockford Michigan Top Best Home Buys ~ June 2009

Rockford Michigan Video Tour

 

Grand Rapids -Ada Real EstateWestbrook Realty

Copyright 2009  All rights reserved

Photo of Rockford Public Library – Downtown Rockford by Bonnie Westbrook

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