Kentwood Michigan Real Estate Market Report April- June 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.
Foreclosures and short sales are still affecting the average
market price here as Grand Rapids has seen high unemployment.
The homes under $150K in Kentwood are about 90% of the
overall sales. The homes over $150K are selling but at a slower rate.
In 2007, Kentwood had 434 homes sales: average sold price:$151,009
In 2008, Kentwood had 722 home sales:average sold price: $115,127
In 2009, Kentwood has had 448 home sales: average sold price:$ 100,561
Home sales for Kentwood – Up to $150,000:
Active Listings 114
Average list price $111,707
Pending Sales 18
Sold 323
Average Sold Price $95,550
Kentwood Absorption Rate for this price range is 1 month,
at the current rate of sale (which means if no new listings come
on the market, it will take 1 month to sell the active listed
homes). This is a phenomenal rate for the Grand Rapids area and
shows that Kentwood is a popular and affordable city to live in.
This figure has probably been affected by the Homeowner Tax
Credit that expired on April 30, 2010. I wouldn’t expect this rate
to hold up for the 3rd quarter of 2010.
Home sales for Kentwood – $150,001 & UP:
Active Listings 40
Average list price $ 190,426
Pending Sales 6
Sold Listings 15
Average sold price $177,286
Kentwood Absorption Rate for this price range is 5.7 months,
at the current rate of sale, which means if no new listings come
on the market, it will take 5.7 months to sell the active listed
homes.
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 Greater Grand Rapids MI area, and what it is like to live in West
Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan
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