Current Real Estate Market Report Rockford Michigan ~2009

Current Absorption Rate for Rockford Michigan runs from 9.7 months

for lower end homes under $ 185,000, up to over 3  years for the

very upper end of the Rockford market.

Rockford Public Library Rockford MI

The lower end of the Rockford  market is moving faster than

higher priced homes for 2009.  With interest rates likely to

rise in 2010 and with buyer tax credits disappearing after

the first quarter, long listing times in Rockford will likely

continue into 2010, with a decrease in prices driven down

by weak buyer demand.

202 Active Rockford MI Listings under $185,000

Absorption Rate : 9.7 months

Sold Rockford Homes: 248

Pending Rockford Homes: 36

Average sold price  $ 131,004

High Sold price $185,000

Low Sold price  $53,900

Average Sold Price/SqFt  $94.50

 

Rockford MI Listings $ 185,000 – $ 349,000

Absorption Rate: 13.4 months

140 Active Rockford MI Listings

Sold Rockford Homes  114

Pending Rockford Homes 11

Average Rockford List Price:  $ 232,848

Average Rockford Sold Price: $ 234,978

Average Sold Price/SqFt  $ 119.03

High Sold Price $ 345,000

Low Sold Price  $186,500

 

Rockford MI Listings Over $ 349,000+

Absorption Rate: 38.5 months

Active Rockford MI Listings  77

Sold Rockford Homes  20

Pending Rockford Homes  4

Average Rockford List Price  $484,919

Average Rockford Sold Price  $438,008

Average Sold Price/SqFt: $ 162.35

Inventories will probably increase with the spring market and

buyers will have their pick of the best homes for sale.

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 Reports

Rockford Michigan Video Tour

 

Copyright 2009  All rights reserved

Photo of Rockford Public Library – Downtown Rockford by Bonnie Westbrook

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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!

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Westbrook Realty Grand Rapids MI Real Estate

                          Contact Terry   616-292-7263

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