Current Real Estate Market Report For East Grand Rapids Michigan
Absorption rate for East Grand Rapids MI housing market is currently
at 8 months, which means if no new listings come on the
East Grand Rapids market, it will take 8 months for the existing
home inventory to sell.
There are 157 active listings on the East Grand Rapids market,
typically a larger inventory in the spring ranging from
$74,999 to $2,995,000.
30 Pending Home Sales
28 Sold Homes with sold prices ranging from $ 63,000 to $ 599,000
for the first quarter of 2010 in East Grand Rapids housing inventory.
East Grand Rapids Homes up to $200,000
Active Listings – 48
Pending – 13
Sold – 16
Avg Sold Price – $158,230
Avg List Price – $158,696
East Grand Rapids Homes $200,000 to $300,000
Active Listings - 40
Pending – 10
Sold - 6
Avg Sold Price – $ 243,583
Avg. List Price - $249,530
East Grand Rapids Homes $ 300,001 to $450,000
Active Listings - 44
Pending - 5
Sold – 4
Avg Sold Price – $ 352,625
Avg List Price – $ 390,873
East Grand Rapids Homes $ 450,001 ++
Active Listings - 25
Pending – 2
Sold – 2
Avg Sold Price - $ 567,000
Avg List Price – $ 852,228
The lower end of this market (under $300K) is the busy end
of the sales in the first quarter. With the current lowest list price
at $ 74,999, it looks like the bargain basement days in EGR housing
are over. Homes in the higher prices are selling, but at a
slower rate. We are still seeing sold price erosion in the homes priced
over $200,000.
The Absorption rate is over the normal range for East Grand Rapids
homes by 2 months. This shows an uptick in inventory and no uptick
in sales to match.
East Grand Rapids Real Estate Market Reports
East Grand Rapids Michigan ~ America’s Hometown
| Share this post : |  |
 |
 |
 |
 |
 |
 |
 |
_____________________________________________
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
________________________________________________________
Terry and Bonnie
East Grand Rapids looks like tit is selling better than lots of other areas; am I close on that one?
I like the breakdown of the ranges and like even more your interpretation of the data.
Terry nice work keeping everyone posted on what is going on in East Grand Rapids!
This is "Heading in the Right Direction" news! I'll take it!
Tom: You got that right, EGR is a popular place to call home.
Drew: Thanks for the comment and kind words. After doing literally hundreds of these reports, the data "talks" to me!
Bill: Thanks for consistently commenting on our market reports. Things are looking up!
Eleanor: Thank goodness, good news travels fast and is so much better to report!
Bonnie