Current Real Estate Market Report For East Grand Rapids Michigan

East Grand Rapids MI Public Library

Absorption rate for East Grand Rapids MI housing market is currently

at 7 months, which means if no new listings come on the

East Grand Rapids market, it will take 7 months for the existing

home inventory to sell.

There are 123 active listings on the East Grand Rapids market now,

down about 30% from last month, ranging from $99,980 to $2,039,000.

25 Pending Home Sales

123 Sold Homes with sold prices ranging from $ 25,000 to $ 1,300,000

since Jan 1, 2009 in the East Grand Rapids housing inventory.

 

East Grand Rapids Homes  up to  $200,000

Active Listings – 29

Pending  – 15

Sold – 45  

Avg Sold Price – $ 139,240

East Grand Rapids Homes  $200,000 to $300,000

Active Listings  -  47

Pending – 4

Sold -  31

Avg Sold Price – $  250,468

East Grand Rapids Homes $ 300,000 to $450,000

Active Listings -  46

Pending -  3

Sold  – 32

Avg Sold Price – $ 363,813

East Grand Rapids Homes  $ 450,000 ++

Active Listings  -  47

Pending – 3

Sold – 15

 

The lower end of this market (under $300K) has seen about 75 %

of the sales in the last six months.  With the current lowest list price

at $ 99,980,  it looks like the bargain basement days in EGR housing

is over.  Homes in the higher prices are selling, but at a

slower rate. The Absorption rate is in the normal range for East

Grand Rapids homes at this point, something we haven’t seen

for a  few years.

 

East Grand Rapids June 2009 Absorption Report

East Grand Rapids Top Best Buy Homes July 2009

East Grand Rapids Michigan ~ America’s Hometown

 

If you have any questions about East GR homes,

please contact me directly:

ph 1-888-240-1968 ext 0

email:terry@terrywestbrook.com

Grand Rapids Ada MI Real Estate ~ Westbrook Realty

copyright 2008 All rights reserved

Photo of East Grand Rapids Public Library by Bonnie Westbrook

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