East Grand Rapids Michigan Real Estate Market Report April-Sept 2012

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K. East Grand Rapids is a very popular

place to live and the months of home inventory, lowest in the

Grand Rapids area, shows this.

East Grand Rapids Real Estate Report April – Sept 2012

Active Listings – 62 from $130,000 to $ 1,950,000

Average List Price – $ 484,823

Pending Sales – 23

Sold Homes – 140 from $ 76,677 to $ 1,200,000

Average Sold Price – $ 290,550

Average Days on Market – 80

Absorption Rate - 2.28 months

Home inventory is down to a new level in East GR, but as you can see

by the graph above, home sales are still not driving prices up, so far.

Though prices are leveling out and low prices are hovering around

$ 130K in the starter range. The Absorption Rate is 2.28 months,

which means if no new homes enter the market, it will take 2.28 months

for the current inventory to be sold or absorbed, at the current rate

of sales. This is back into Seller Control category, which we haven’t seen

for at least 5 years.

If you have questions about buying or selling an East Grand Rapids home,

give Terry a call at 616-292-7263.

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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!

Contact Terry 616-292-7263

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