East Grand Rapids Michigan Real Estate Market Report January-March 2014
by Terry & Bonnie Westbrook
East Grand Rapids is a community of homes priced from the
mid $100,000’s to over $1,000,000 with the majority of homes
selling from $300K to $500K.
East Grand Rapids is a very popular place to live in the Greater
Grand Rapids area, its’ walkability, close to downtown GR businesses,
shops, and restaurants in Gaslight Village are the main reasons.
East Grand Rapids Real Estate Report January-March 2014
Active Listings – 42 from $169,900 to $ 1,450,000
Pending Sales – 28
Sold Homes – 35
Average Sold Price – $ 348,017
The average sold home price has fallen slightly in East GR
in the last three months. This is due to a dearth of homes for sale,
rather than a declining market. Home inventory numbers are at all
time lows, just a few years from too many homes on the market.
Listing prices are definitely rising, but the average sale price dropped.
Lower priced homes, between one hundred and two hundred thousand
are difficult for buyers to find. The low number of home transactions
for the first quarter is due to low inventory, also.
Grand Rapids is experiencing this throughout the Greater Grand Rapids
market, and it affects all price points. Buyers are still wary of buying a
home that is over priced, so sellers are still sitting on the market if they
are over optimistic about their selling price.
If you have been thinking of selling your East Grand Rapids home,
2014 could be the time to call for a custom analysis of what your home
might be worth in today’s market! If you have questions about
buying/selling an East Grand Rapids home,
give Terry a call at: 616-292-7263.
East Grand Rapids Real Estate Market Reports
East Grand Rapids Michigan ~ America’s Hometown
Copyright 2014 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. 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
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