East Grand Rapids MI Real Estate Market Report Sept 2010

East Grand Rapids MI Real Estate Market Report Sept 2010

EGR Yacht Club Docks

East Grand Rapids Yacht Club

Active listings – 111

High Price – $ 3,500,00

Low Price – $ 132,600

Pending Home Sales – 16

High Price – $ 999,900

Low Price –  $ 99,900

Sold Homes41

High Price – $ 699,000

Low Price –  $ 112,000

Absorption rate for East Grand Rapids MI housing market is

just under 6 months, if no new listings come on the East Grand

Rapids market, it will take 6 months for the existing home inventory

to sell.


The middle of this market (over $200K-400K) is the busy end

of the sales in the third quarter, with 19 of the 41 sales tallied.

With the current lowest list price at $ 132,600, the bargain basement

days in EGR housing are over.  Homes on the higher priced shelf are

selling, but at a slower rate.

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

_____________________________________________________________________________________________________

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!

search for Grand Rapids homes Find Grand Rapids Home Value Grand Rapids Relocation Guide

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

East Grand Rapids Michigan Top Best Buy Homes Nov 2009

East Grand Rapids Michigan Top  Best Buy Homes Nov 2009

We have gathered a list of the top East Grand Rapids Houses to buy

based on price per square foot. Please note that this list can change daily

as some homes sell, prices are adjusted and other homes come on the

market. Price per square foot is a great leveler. If two similar homes are

listed at similar prices, their price per square foot should be similar.

It should reflect the interior finish of the home. For example, if it has

crystal chandeliers, marble tile, a new kitchen, this would be more per

square foot than a home that still has the 1970’s decor and/or

is in derelict condition.

Tree at EGR gaslight village

The total square footage is noted here, although only the main floors

are used to figure price per square foot.

November 2009 – 15 TOP BEST BUY East Grand Rapids Homes

Lowest price/Sq Ft range from $54.86 to $117.77

Highest List Price –  $ 349,700

Lowest List Price –  $ 89,900

The Top East GR Homes to Buy by Price per Square Foot:

729 Gladstone DrSE    $  89,900      800 Sq Ft   $112.38/SqFt

2258 Lake Dr SE         $155,000    2261 Sq Ft   $68.55/SqFt

430 Rosewood Ave    $159,900    2650 Sq Ft   $73.72/SqFt

428 Edgemere Dr       $164,900   3006 Sq Ft   $54.86/SqFt

1646 Robinson Rd      $164,900    3171 Sq Ft   $52.00/SqFt

159 El Centro Blvd      $164,900    1848 Sq Ft   $89.23/SqFt

2752 Robinson Rd      $169,900   1532 Sq Ft    $110.90/SqFt

348 Gladstone Dr       $174,900    1775 Sq Ft   $98.54/SqFt

2150 Anderson Dr      $209,000    3322 Sq Ft   $75.29/SqFt

3030 Cascade Rd       $209,900     3000 Sq Ft   $111.77/SqFt

147 El Centro Blvd    $215,000     2318 Sq Ft   $108.48/SqFt

1401 Pinecrest Ave   $220,000    2350 Sq Ft   $103.97/SqFt

529 Rosewood Ave    $265,000   3045 Sq Ft    $87.03/SqFt

2305 Wilshire Dr       $279,900    3000 Sq Ft    $112.59/SqFt

1401 Breton Rd        $349,700     3873 Sq Ft   $102.85/SqFt

The bargains are still here but not as many as last month here in

East Grand Rapids this fall.   Only one home under $100K (it is under

1000 square feet) has been listed for the past 6 months.

If you have been waiting for the right time to buy, don’t wait much

longer.  We are seeing definite signs of competition for homes in most

areas, like East Grand Rapids and Forest Hills. Homes in good condition

and priced appropriately are selling quickly.

*Some of these homes may be bank owned foreclosures and not habitable

as is or available for a mortgage in present condition.*

Additional East GR  Real Estate Market Articles

If you would like to view an East Grand Rapids Best Buy Home,

please contact us @1-888-240-1968 x 0 or email us :

terry@terrywestbrook.com

_____________________________________________________________________________________________________

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!

ar125812212017642 Foto Friday – Christmas Railway Garden Meijer Gardens 2010 ar125812218972939 Foto Friday – Christmas Railway Garden Meijer Gardens 2010 ar125812225271331 Foto Friday – Christmas Railway Garden Meijer Gardens 2010

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

East Grand Rapids Real Estate Market Report – Jan-April 2009

East Grand Rapids Michigan is doing fairly well in this market cycle.

The statistics are still in the buyers favor but sales continue to

close and inventory is inching downward. All signs of a recovering

market and a return to normal levels, though the 19 months of

inventory says we have a way to go before home inventory returns

East Grand Rapids to previous levels of about 6-9 months.

 

East Grand Rapids Jan to April 2009

Sales Price Graph (Includes Sold Homes Only)

 

EGR housing units sold

Comparison of Units Sold 2008 to 2009 – Includes Sold & Pending Homes

 

EGR Sales Price Graph

 Sold & Pending Homes Sales Price Graph April 2008 to April 2009

Avg. Days on Market 98 

Percent Sold/List 93.80%

Current Inventory 152

Months Inventory 19

Average $ per Sq ft. $107.30 (Total Finished Living Area)

If you have any questions about an East Grand Rapids home,

please contact me at: 1=888-240-1968 x 0

or email me at: terry@terrywestbrook.com

 

Westbrook RealtyGrand Rapids Real Estate

All information is deemed correct but no liability assumed. All data from

GRAR.

East Grand Rapids Absorption Report ~ March 2009

Current Real Estate Market Report For East Grand Rapids Michigan

East Grand Rapids MI Public Library

march 2009 Absorption rate for East Grand Rapids MI housing

market is currently at 11.66 months, which means if no new listings

come on the East Grand Rapids market, it will take 11.66 months

for the existing home inventory to sell.

There are 154 active listings on the East Grand Rapids market now,

ranging from $109,899 to $2,039,000.

18 Pending Home Sales w/ prices ranging from $ 99,900 to $ 2,495,000.

75 Sold Homes with sold prices ranging from $ 25,000 to $ 912,500

since Sept 1, 2008 in the East Grand Rapids housing inventory.

 

The lower end of this market (under $300K) has seen 2/3 of the sales

in the last seven months.  Since this market has such a wide range of

home prices, it is difficult to analyze.  The higher priced listings are

selling, as well as the bargains below $100,000.  The lowest priced

listing is now over $ 100,000 which we haven’t seen for over 6 months

here in the East Grand Rapids housing market.

 

East Grand Rapids December 2008 Absorption Report

 

If you have any questions about the value of your East GR home,

please contact me directly.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Copyright 2009 All rights reserved

Photo of East Grand Rapids Public Library by Bonnie Westbrook

Waterfront Real Estate Report ~ August 2008 ~Eastern Kent County Michigan ~

Like all counties in Michigan, we are blessed with water, lots of water, in the

 form of inland lakes, rivers and streams.  Many people who live here have

residences that have private waterfront access, the prices range from $99,000

 at the low end to $4,000,000 at the high end to live on the waterfront in

Eastern Kent County.

 Eastern Kent County would include Ada, Alto, Belding, Belmont, Caledonia,

Cannon, Cannon Twp, Cannonsburg, Cascade, Comstock Park, Dutton, East

Grand Rapids, Forest Hills, Gaines, Gaines Twp, Grand Rapids, Kentwood,

Rockford, & Vergennes Twp. 

This Private Waterfront Real Estate Market Report gives you the current

picture for the hot market time from March to August 2008. 

The chart below tells us that 15 properties have sold, 3 pending,

82 currently For Sale, and 18 have expired.

Reeds Lake, East Grand Rapids, MI

Reeds Lake, East Grand Rapids, MI

 

Average Price for Private Access Waterfront Real Estate

Current For Sale = $618,500

Pending  Sales   = $466,300

Sold Homes       = $419,853

Average Days on the Market

Current For Sale =   80 days

Pending            =    78 days

Sold                 =    56 days

Expired             =  101 days

Average Price per Square Foot

Current For Sale  = $222.39

Pending             = $201.98

Sold                  = $196.93

Expired              = $189.01

 

Status Total Avg Price $/SqFt Median Low High Avg DOM
ACT/CNT 82 $618,500 $222.39 $429,000 $99,900 $4,000,000 80
PND 3 $466,300 $201.98 $599,000 $300,000 $599,000 78
SLD/RNT/LSE 15 $419,853 $196.93 $275,000 $145,000 $1,275,000 56
WTH 0 $0 $0.00 $0 $0 $0 0
EXP 18 $378,292 $189.01 $286,950 $149,900 $1,275,000 101
Total 118 $552,737 $213.54 $395,000 $99,900 $4,000,000 80

All information is subject to verification and no liability for omission

or error is assumed


If you would like additional information about waterfront homes

in Kent County,  please contact me directly at:

 1-888-240-1968 ext 0 

F.Y.I. ~ The 4 million dollar property listed is on Reeds Lake, the beautiful lake

in East Grand Rapids, captured in a photo by Bonnie Westbrook.

Grand Rapids Ada Real Estate  Copyright 2008 All rights reserved

East Grand Rapids Mi Real Estate Market Report ~ August 2008

East Grand Rapids is a small city, population of 10,784 located just east

of Grand Rapids city limits. It has been a desired place to live in the Grand

 Rapids area for many years. It is primarily residential with some commercial

business areas.  Many homeowners are attracted by Reeds Lake which plays

 a prominent role in the community, its award winning public school system,

proximity to downtown Grand Rapids, and its overall small town feeling.

This is definitely a community that you can walk to school, the ice cream

store, or just around the tree lined blocks to visit the picturesque lakes,

Reeds Lake & Fisk Lake.

 Homes range in all prices here in East Grand Rapids.  There are

small 3 bedroom bungalows and ranches that were built just before and

after WWII, there aremega-mansions built on the shores of Reeds Lake

for wealthy citizens, and all ranges in between.

Reeds Lake at John Collins Park - East Grand Rapids

Reeds Lake at John Collins Park - East Grand Rapids

 

   RESIDENTIAL REAL ESTATE MARKET

 EAST GRAND RAPIDS MI ~ AUGUST 2008.

Homes Listed at $850,000 +

5 For Sale

Average price $ 2,092,980

High $4,000,000   Low  $1,175,000

Average Days on Market  78

1 Home Sold – $ 1,275,000  

 50  Days on the Market

3 Home Listings  Expired

Average Price:   $ 1,233,333

Average Days on Market: 156

 

Homes Listed $450,000 to $ 850,000

18 Homes Available

Average price  $ 583,083

Average Days on Market  83

1 Home Pending Sale

Price: $599,000  59 Days on Market

5 Homes Sold, 9 Expired

Average Sold Price: $ 531,000

Average Days on Market:  33

Average Expired Price: $606,366

Average Days on Market: 114

 

Homes Listed $ 300,000 – $ 450,000

37  Homes Available

Average Price: $ 374,118

Average Days on Market: 67

1 Pending, 10 Sold, 12 Expired, 1 Withdrawn

Average Sold Price: $355,440

Average Days on Market: 76

Average Expired Price: $395,941

Average Days on Market: 100

 

Homes Listed $ 200,000 – $300,000

30 Homes Available

Average Price: $ 257,899

Average Days on Market:  94

30 Sold Homes, 10 Expired, 3 Withdrawn

Average price: $154,303 

Average Days on Market: 54

 

Homes Listed $0- $200,000    

36 Available

Average Price: # 166,163

Average Days on Market: 68

9 Pending Sales

Average Price $ 150,100

Average Days on Market: 71

 32 Sold Homes

Average Price: $170,306

Average Days on Market: 41

 

If you would like to know the value of your East Grand Rapids Home

in this market, please contact me directly.

1-888-240-1968 ext 0

Grand Rapids -Ada MI Real Estate ~ Copyright 2008 – Five Star Real Estate LLC