Caledonia Michigan Real Estate Market Report Jan-Mar 2012
2012 First Quarter Real Estate Market Activity
Caledonia Current Listings = 107
Average Sale price – $158,704
Average Time on Market = 3.3 months
Average Sold Price/Sq Ft = $ 88.49
Absorption Rate = 4.6 months
Caledonia real estate has seen an almost 10% decrease in
average list price to sold price since the first of the year. Even
though housing inventory is shrinking, prices haven’t made a
recovery yet. Average time on the market is back in the normal
range, even though it may take several months for sellers to
reach their sale price.
Average sale price is somewhat misleading in the Caledonia
market, where sold homes range from $850,000 to $25,000.
We are still waiting to see how the foreclosures and bank owned
houses still not listed will re-enter the marketplace. If they are
released slowly 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