Current Real Estate Market Report ~ Rockford Michigan ~ May 2009
Current Absorption Rate for Rockford Michigan is 15 months
on average, which means if no new listings come on the market,
it will take 15 months to sell current inventory. Although this is a
9 mo. decrease from last month, inventory is still high.
If you aren't serious about selling 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 very picky.
The under $200K market is moving faster than the over $200K.
Homes Less than $200,000 Since Jan 1, 2009 sold prices appear
to be still declining, even though 161 homes sold in
Rockford Public School District last month.
The over $200K market is rising in homes inventory but average
price per square foot seems to be stabilizing at $130/SqFt
.
258 Active Rockford MI Listings under $200,000
Sold Rockford Homes: 84
Pending Rockford Homes: 45
Average sold price $ 132,396
High Sold price $196,330
Low Sold price $40,000
Average Sold Price/SqFt $88.36
Over $ 200,000 Rockford MI Homes
232 Active Rockford MI Listings
Sold Rockford Homes 27
Pending Rockford Homes 5
Average Rockford List Price: $ 353,298
Average Rockford Sold Price: $ 308,656
Average Sold Price/SqFt $ 130.00
High Sold Price $ 585,000
Low Sold Price $200,000
Inventories have increased with the spring market and sales are
starting to take off in Rockford over the last month. The absorption
rate is 15 months, at least 6--9 months longer than a normal market .
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 ~ April 2009
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 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.
We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
