Caledonia Michigan Real Estate Market Report Jan-Dec 2011
Caledonia real estate has the an inventory problem, just like
most of the area. Too many homes for sale and too few buyers.
Months of inventory peaked at almost a 2 year supply at the beginning of
2011 and fell in the spring and summer months, then started climbing
again as fall progressed into winter. Though high inventory is way below
last winter’s highs.
Average sale price is still depressed in Caledonia as elsewhere, as
evidenced by the distance between average list price and average sale
price in the chart above.
The huge unknown for any real estate market this year, is when
and how the foreclosures and bank owned homes will re-enter
the marketplace. If they are dribbled back onto the market,
prices may hold steady. If these homes are dumped back on
the market, en mass, this will lead to further price erosion
for all homes.
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If you have any questions about Caledonia or Grand Rapids MI
homes, please contact me directly through my web site.
Copyright 2012 All rights Reserved
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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. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263