Current Real Estate Market Report ~ Rockford Michigan ~ June 2009
Current Absorption Rate for Rockford Michigan is 7.5 months
on average, which means if no new listings come on the market,
it will take 7.5 months to sell current inventory. This is a
50%. decrease from last month, so inventory is selling.
The under $200K market is moving faster than the over $200K.
Homes less than $200,000 since May 1, 2009 sold prices appear
to be still declining slightly, even though 126 homes sold in
Rockford Public School District last month. Foreclosure & bank
owned homes could be tipping the figures downward.
The over $200K market has taken a 15% decrease in average
sold price from last month.
255 Active Rockford MI Listings under $200,000
Sold Rockford Homes: 40
Pending Rockford Homes: 57
Average sold price $ 128,688
High Sold price $190,000
Low Sold price $46,200
Average Sold Price/SqFt $94.67
Over $ 200,000 Rockford MI Homes
220 Active Rockford MI Listings
Sold Rockford Homes 15
Pending Rockford Homes 14
Average Rockford List Price: $ 365,519
Average Rockford Sold Price: $ 255,261
Average Sold Price/SqFt $ 140.45
High Sold Price $ 410,000
Low Sold Price $200,000
Inventories have increased with the spring market and sales are
starting to take off in Rockford over the last 2 months. The absorption
rate is 7.5 months which is a normal market range for our area.
It appears that smaller homes are selling faster because the price
per sq ft has gone up while the average sale price has declined by
15% from last months report. It is important 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 Rockford or
Grand Rapids MI homes, please contact me directly:
1-888-240-1968 ext 0
email: terry@terrywestbrook.com
Rockford Michigan Real Estate Market Report ~ May 2009
Rockford Michigan Real Estate Market Report ~ April 2009
Rockford Michigan Real Estate Market Report ~ March 2009
Rockford Michigan Top Best Home Buys ~ June 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
Terry--It is so nice to see the housing inventory decreasing across the country....finally. Nice report!