Kentwood Michigan Real Estate Market Report Jan-Dec 2010
Kentwood Michigan is a large suburb of Grand Rapids with a population
under 50,000. It has manufacturing, shopping centers, and lots and lots
of residential housing. Kentwood Public Schools are one of the largest
school systems in the area with over 9000 students and 16 buildings
within a 24.25 square mile area.
Kentwood home sales have recouped some of their value this year
though sales volume is down. We are still seeing some home price
reduction on homes in poor/dated condition. Good news for sellers,
Kentwood has decreased absorption rates as fewer homes are entering
the market, 60% less homes sold in 2010 than in 2009.
2010 Kentwood STATS:
370 Active Listings for sale
88 Pending Home Sales
555 Sold Homes
$108,777 Average Sold Price
109 Days Average Market Time
95.19% of List Price
Absorption Rate: 6.9 months
Synopsis: More homes were sold in 2010 than
in 2009 and the average sold price is slightly higher
than last year. The Absorption rate is also higher
than last year as homes take longer to sell.
Foreclosures and short sales are still affecting the
average market price in Kentwood, although the average
home sold price is up about 8% from 2009 prices. The
homes under $ 150K are seeing about 80% of the overall
sales. The homes over $250K are selling but at a slower
rate and with longer market time.
In 2007, Kentwood had 434 home sales: avg sold price:$151,009
In 2008, Kentwood had 722 home sales:avg sold price: $115,127
In 2009, Kentwood had 448 home sales: avg sold price:$100,561
In 2010, Kentwood had 555 home sales: avg sold price: $108,777
Kentwood Michigan Real Estate Market Reports
Real Estate is always hyper-local. If you have questions about
a specific Kentwood home, please contact me.
Copyright 2010 All rights reserved
Photo of Kentwood High School 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