Lowell Michigan Real Estate Market Report ~ May 2009

Lowell Michigan Real Estate Absorption Report ~ May 2009

Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.

It has really grown in the last 20 years, in many ways. Lowell has a great

school system, a thriving business community, a lively arts society, and

is one of the best kept secrets in Kent County.

These are the statistics for home sales in the Lowell School District.

Active Listings: 193 Active Listings

Average Price: $268,290

Price per Sq Ft: $133.97 (Main Floor only)

Average days on the Market: 159

PENDING: 31 homes

SOLD: 60 Sold Homes

Average Sold Price: $ 144,328

Average Sold Price Per Sq Ft: $ 87.07 (Main floor only)

Average Sold Days on the Market: 107

Expired: 83 Expired listings

These stats are figured from Jan 1, 2009 to May 28,2009

Absorption Rate for Lowell Listings is 10.6 months for the

current housing inventory. If no other homes enter the market, it

will take 10.6 months for the current homes to sell at the current

rate of sales. This is getting close to normal range of 6-8 months.

Lowell Homes that are priced competitively are selling.

As you can see by the statistics, the homes that have their price

per square foot under $90 are seeing the most activity. There are

quite a few foreclosure or short sale homes which are bringing

down the average sales price and square footage rates lower than

they might normally be, but both average list price and average sold

price are up from last months stats.

Some sellers have retired from the market and will try again soon,

filling an already saturated market.

They might find a better buying market, but price is still king.

Today’s buyer is looking for a well priced bargain in great condition.

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

Grand Rapids Real Estate