Current Real Estate Market Report Rockford Michigan ~ 2010
Current Absorption Rate for Rockford Michigan runs from 5 months
for lower end homes under $185,000, up to over 1 year for the
very upper end of the Rockford market.
The lower end of the Rockford market is moving faster than
higher priced homes for the first quarter sales in 2010. With
interest rates already starting to rise and with buyer tax credits
disappearing after the first quarter, long listing times in Rockford
will likely continue into 2010, with prices driven down by weak
buyer demand. Absorption rates have improved from last
year with lower priced homes being the “hot market”.
Higher priced homes are seeing more activity than 2009
but are still not back to normal sales levels.
Active Rockford MI Listings under $185,000
Active Rockford MI listings 195
Absorption Rate : 5.36 months
Sold Rockford Homes: 55
Pending Rockford Homes: 54
Average sold price $ 127,579
High Sold price $184,900
Low Sold price $60,000
Average Sold Price/SqFt $93.76
Rockford MI Listings $ 185,000 - $ 349,000
Absorption Rate: 8.23 months
Active Rockford MI Listings 140
Sold Rockford Homes 17
Pending Rockford Homes 34
Average Rockford List Price: $ 238,822
Average Rockford Sold Price: $ 235,200
Average Sold Price/SqFt $ 116.06
High Sold Price $ 349,000
Low Sold Price $185,900
Rockford MI Listings Over $ 349,000+
Absorption Rate: 15.6 months
Active Rockford MI Listings 78
Sold Rockford Homes 7
Pending Rockford Homes 8
Average Rockford List Price: $477,078
Average Rockford Sold Price: $613,000
Average Sold Price/SqFt: $ 162.35
Inventories will probably increase with the spring market and
buyers will have their pick of the best homes for sale.
It is important that you have your home in great condition
and priced correctly. Over-priced homes and tired looking homes
will not sell for top dollar 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
Grand Rapids Real Estate - Westbrook Realty
Copyright 2010 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. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
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Terry&Bonnie--It is so nice to see absorption rates below 6 months again! Nice report!