Current Real Estate Market Report Rockford Michigan ~ 2010

Current Absorption Rate for Rockford Michigan runs from 5 months

for lower end homes under $185,000, up to over 1 year 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 the first quarter sales in 2010.  With

interest rates already starting to rise and with buyer tax credits

disappearing after the first quarter, long listing times in Rockford

will likely continue into 2010, with prices driven down by weak

buyer demand.  Absorption rates have improved from last

year with lower priced homes being the “hot market”. 

Higher priced homes are seeing more activity than 2009

but are still not back to normal sales levels.

 

Active Rockford MI Listings under $185,000

Active Rockford MI listings  195

Absorption Rate : 5.36 months

Sold Rockford Homes: 55

Pending Rockford Homes: 54

Average sold price  $ 127,579

High Sold price $184,900

Low Sold price  $60,000

Average Sold Price/SqFt  $93.76

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

Absorption Rate: 8.23 months

Active Rockford MI Listings 140

Sold Rockford Homes  17

Pending Rockford Homes 34

Average Rockford List Price:  $ 238,822

Average Rockford Sold Price: $ 235,200

Average Sold Price/SqFt  $ 116.06

High Sold Price $ 349,000

Low Sold Price  $185,900

Rockford MI Listings Over $ 349,000+

Absorption Rate: 15.6 months

Active Rockford MI Listings  78

Sold Rockford Homes  7

Pending Rockford Homes  8

Average Rockford List Price:  $477,078

Average Rockford Sold Price:  $613,000

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

Rockford Michigan Video Tour

Grand Rapids Real EstateWestbrook Realty

Copyright 2010  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.

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