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
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!
Contact Terry 616-292-7263