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 are still on a general downward trend
in price. Over 1/3 of Kentwood Homes Equity has dissolved in
the last 3 years, according to the current stats.
We are seeing some price recovery from last month’s figures
and the overall summer activity is high. Kentwood has one of
the lowest absorption rates in the area.
Foreclosures and short sales are still affecting the average
market price here as Grand Rapids has seen jobs disappear.
The homes under $ 150K in Kentwood are seeing about 70% of the
overall sales. The homes over $150K may be priced too high for
today’s timid buyers (many of them think prices will erode still
further) or it could be condition. Your list price has to
be close to the sale price or your home just doesn’t get serious
buyer activity. And if you still have the old carpeting,
you will need to upgrade or lower your price if you want
to see a sold sign this year. We are seeing serious buyers
vying for the best homes on the market with multiple offers.
In 2006, Kentwood has 495 home sales:avg sold price:$159,788
In 2007, Kentwood had 434 homes sales: avg sold price:$151,009
In 2008, Kentwood had 722 home sales:avg sold price: $115,127
In 2009, Kentwood has had 547 home sales: avg sold price:$ 99,354
Home sales for Kentwood – Up to $150,000:
153 Active Listings with Avg price $ 124,754
139 sold since May 1, 2009
Avg sold price $108,847
Avg Days on Market – 87
Home sales for Kentwood – $150,001 UP:
70 Active Listings with avg price of $ 189,463
29 sold since May 1, 2009 Low: $150,195 High: $232,000
Avg sold price $150K+ = $168,976
Avg Days on Market – 138
Kentwood Absorption Rate for this price range is 4 months,
at the current rate of sale (which means if no new listings come
on the market, it will take 4 months to sell the active listed
homes). This is down from last month, which is great news,
though the average sold prices on the lower end are going up
slightly and average price on upper end is going down. I would
assume this is due to bank foreclosures and short sales which
have driven down home price averages for most of Kentwood.
Kentwood Michigan Top Best Buy Homes July 2009
Kentwood Michigan Absorption Report June 2009
Kentwood Michigan Real Estate Information
Real Estate is always hyper-local. If you have questions about
a specific Kentwood home, please contact me:
phone: 1-888-240-1968 ext 0
or email: Terry@terrywestbrook.com
Grand Rapids Real Estate ~ Westbrook Realty
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