Grand Rapids Michigan Real Estate Blog

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Lowell Michigan Absorption Report ~ February 2009

Lowell Michigan Real Estate Market Report ~ February 2009

Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.

It has really grown in the last 20 years, in many ways. Lowell has a great

school system, a  thriving business community, a lively arts society, and

is one of the best kept secrets in Kent County.

These are the statistics for home sales in the Lowell School District.

Lowell Michigan Absorption Report  Feb 2009

lowell showboat lowell michigan

Active Listings: 142 Active Listings

Average Price: $258,078

Price per Sq Ft: $126.27 (Main Floor only)

Average days on the Market: 88

 

PENDING: 18 homes

 

SOLD: 44 Sold Homes

Average Price: $ 132,038

Average Price Per Sq Ft: $ 76.59 (Main floor only)

Average Days on the Market: 47

 

Expired: 29 Expired listings

Average Expired Price: $222,459

Average Price Per Sq Ft: $140.29 (Main floor only)

Average Days on the Market: 94

 

Absorption Rate for Lowell Listings is 16.13 months for the

current housing inventory. If no other homes enter the market, it

will take 16.13 months for the current homes to sell at the current

rate of sales.

Lowell Homes that are priced competitively are selling and selling

fairly quickly compared to the greater Grand Rapids area.

As you can see by the statistics, the homes that have their price

per square foot under $100 are seeing the most activity, although some

sales up to $ 145 a square foot are also moving. There are quite a few

foreclosure or short sale homes which are bringing down the average sales

price and square footage rates lower than they should be.

 

Some sellers have retired from the market and will try again in

the spring.  They might find a better buying market, but prices are

still on the downward trend.  With lower interest rates, this may

spur the local economy and put more buyers into the game.

 

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

 

Grand Rapids Ada Real Estate ~ Westbrook Realty

Copyright 2009     All rights reserved

_____________________________________________

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.  We believe: Grand Rapids is a Great Place to Live!

search for Grand Rapids homes Find Grand Rapids Home Value Grand Rapids Relocation Guide

Westbrook Realty Grand Rapids MI Real Estate

                          Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

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Comment balloon 0 commentsTerry & Bonnie Westbrook • February 27 2009 03:48PM
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