Current Real Estate Market Report ~ Rockford Michigan ~ July 2009

Current Absorption Rate for Rockford Michigan is 8 months

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

it will take 8 months to sell current inventory. 

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 selling for slightly more in Rockford Public School District

last month.  Foreclosure & bank owned homes could be keeping

the figures down.

The over $200K market has taken a slight increase in average

sold price from last month.  All good signs for Rockford sellers.

 

255 Active Rockford MI Listings under $200,000

Sold Rockford Homes: 76

Pending Rockford Homes: 51

Average sold price  $ 133,794

High Sold price $196,000

Low Sold price  $46,200

Average Sold Price/SqFt  $100.79

 

Over $ 200,000 Rockford MI Homes

227 Active Rockford MI Listings

Sold Rockford Homes  35

Pending Rockford Homes 15

Average Rockford List Price:  $ 370,115

Average Rockford Sold Price: $ 259,634

Average Sold Price/SqFt  $ 136.68

High Sold Price $ 548,000

Low Sold Price  $200,000

 

Inventories have increased with the summer market and sales are

starting to take off in Rockford over the last 3 months.  The absorption

rate is 8 months which is a normal market range for our area.

It appears that smaller homes are selling faster than the larger ones.

This is true across our market area, as people reassess their housing

needs. It appears that many are choosing to downsize in this economy.

It is important  that you have your  home in  great condition

and priced correctly. Over-priced homes and tired looking homes

will not sell for top dollar 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 ~ June 2009

Rockford Michigan Top Best Home Buys ~ July 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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