Rockford Michigan Real Estate Market Report April 2009
Current Absorption Rate for Rockford Michigan is 24.69 months
on average, which means if no new listings come on the market,
it will take 24.69 months to sell current inventory. This is a
slight increase since last month. If you don't need to sell
your Rockford home, don't put it on the market. If you have
to sell, it must be priced correctly and be in excellent condition
with the huge inventory available, buyers can be picky.
The under $200K market is moving faster than the over $200K.
Homes Less than $200,000 Since Oct 1, 2008 sold prices are
still declining, even though 20 homes sold last month in Rockford
Public School District.
The over $200K market is starting to rise in average price and
price per square foot over the last month, though inventory is
still very high.
204 Active Rockford MI Listings under $200,000
Sold Rockford Homes: 87
Average sold price $ 135,626
High sold price $196,330
Low sold price $40,000
Average Sold Price/SqFt $87.67
Over $ 200,000 Rockford MI Homes
159 Active Rockford MI Listings
Sold Rockford Homes 16
Average Rockford List Price: $ 352,855
Average Rockford Sold Price: $ 346,500
Average Sold Price/SqFt $135.57
High Sold Price $ 515,000
Low Sold Price $200,000
Inventories are increasing with the spring market and sales are
slowing in Rockford over the last 7 months. The absorption
rate is extremely high at 24.69 months. It is imperative that you
have your home in great condition and priced correctly. Over-priced
homes will not sell in this buyer's market.
If you have any questions about a Rockford or
Grand Rapids MI homes, please contact me directly:
1-888-240-1968 ext 0
email: terry@terrywestbrook.com
Rockford Michigan Absorption Report ~ Feb 2009
Rockford Michigan Absorption Report ~ December 2008
Rockford Michigan Top Best Home Buys ~ April 2009
Grand Rapids -Ada Real Estate - Westbrook Realty
Copyright 2009 All rights reserved
Photo of Pebbles Park - 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!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
With a 24-month absorption rate, the only way to beat the odds is price. Unfortunately, I'm sure prices have dropped, making equity a rarity - and thus limiting the ability to drop one's price enough for a quick sale. My brother owned two homes outside of Detroit, and he lost over a half million dollars to finally sell them when he got a new job in California. By the way, besides price... another important factor in selling is choosing the right agent, and it looks to me like you're really on top of your market! Keep up the good work.
MArgaret: Thanks for the kind comments. We find the consumers want this type of information I hope it is helpful to them.