East Grand Rapids Michigan Real Estate Market Report Jan-Dec 2009

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 6.3 months, which means if no new listings come on the

East Grand Rapids market, it will take 6.3 months for the existing

home inventory to sell.

There are 111 active listings on the East Grand Rapids market now,

typically a leaner market in winter ranging from $89,900 to $3,600,000.

25 Pending Home Sales

210 Sold Homes with sold prices ranging from $ 25,000 to $ 1,750,000

from Jan 1, 2009 in East Grand Rapids housing inventory.

East Grand Rapids Homes up to $200,000

Active Listings – 29

Pending – 7

Sold – 81

Avg Sold Price – $145,265 139,240

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

Active Listings - 25

Pending – 2

Sold - 51

Avg Sold Price – $ 246,601 250,468

East Grand Rapids Homes $ 300,001 to $450,000

Active Listings – 34

Pending - 1

Sold – 46

Avg Sold Price – $ 358,789 363,813

East Grand Rapids Homes $ 450,001 ++

Active Listings - 23

Pending – 2

Sold – 20

Avg Sold Price – $ 711,025

The lower end of this market (under $300K) has seen about 50 %

of the sales in the last year. With the current lowest list price

at $ 89,900, it looks like the bargain basement days in EGR housing

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

slower rate.

The Absorption rate is in the normal range for East GR

homes at this point, something we haven’t seen for a few years.

It looks like East Grand Rapids is coming out of the the recent

real estate downturn on a faster pace than other

local communities.

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

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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!