Kentwood Michigan Real Estate Market Report Jan-Mar 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 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 still seeing some price reduction even though activity is high.
On the good news for sellers, 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 about 80% of the
overall sales. The homes over $150K are selling but at a slower rate.
In 2007, Kentwood had 434 homes sales: avg sold price:$151,009
In 2008, Kentwood had 722 home sales:avg sold price: $115,127
In 2009, Kentwood has had 448 home sales: avg sold price:$ 100,561
Home sales for Kentwood – Up to $150,000:
126 Active Listings w/ Average list price $ 120,801
51 sold Average sold price $106,969
Kentwood Absorption Rate for this price range is 3.8 months,
at the current rate of sale (which means if no new listings come
on the market, it will take 3.8 months to sell the active listed
homes). This is a great rate for the Grand Rapids area and shows
that Kentwood is a popular and affordable city to live in.
Home sales for Kentwood – $150,001 & UP:
58 Active Listings w/ average list price of $ 192,430
8 sold Average sold price $150K+ = $208,103
Kentwood Absorption Rate for this price range is 13.39 months,
at the current rate of sale which means if no new listings come
on the market, it will take 13.39 months to sell the active listed
homes.
More Kentwood Michigan Articles:
Kentwood Michigan Real Estate Information
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