East Grand Rapids Michigan Real Estate Market Report January-March 2014

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.

 

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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.

 

SEARCH EAST GRAND RAPIDS HOMES

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

 

Copyright 2014   All rights reserved.

______________________________________________________________________________

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 East Grand Rapids Michigan Real Estate Market Report July   December 2013  ar125812225271331 East Grand Rapids Michigan Real Estate Market Report July   December 2013

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry  616-292-7263

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East Grand Rapids Michigan Real Estate Market Report Sept 2011

East Grand Rapids Michigan Real Estate Market Report  Sept 2011

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K.  Since this is such a large spread

it is difficult to produce true averages beyond a neighborhood

level, so take that in consideration with the following statistics.

EastGrandRapids_ leaves

July 1 to Sept 30, 2011 EGR STATS:

94 Active Listings for sale

11 Pending Home Sales

83 Sold Homes

$286,813 Average Sold Price

92.9% of Sale Price to List Price

Absorption Rate: 4.4 months

East GR is seeing a slight rise in home prices over first half

2011 averages, and the Absorption rate is much lower.  Average

sold price is about 10% higher but % of sale price to list price

 

 

SEARCH FOR EAST GRAND RAPIDS HOMES

SEARCH for EGR Bank Owned + Short Sale Homes

More East Grand Rapids Articles:

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. We believe: Grand Rapids is a Great Place to Live!

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011 ar125812218972939 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011 ar125812225271331 East Grand Rapids Michigan Real Estate Market Report Jan – June 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

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East Grand Rapids Michigan Real Estate Market Report Jan – June 2011

East Grand Rapids Michigan Real Estate Market Report  Jan-June 2011

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K.  Since this is such a large spread

it is difficult to produce true averages beyond a neighborhood

level, so take that in consideration with the following statistics.

Gaslight Village Shopping EGR

2011 First Half EGR STATS:

146 Active Listings for sale

30 Pending Home Sales

80 Sold Homes

$260,384 Average Sold Price

95.21% of Sale Price to List Price

Absorption Rate: 7.9 months

Synopsis:  East GR is seeing a slight rise in home prices

over 2010 averages, though the  Absorption rate is slightly higher.

Demand for East GR homes is about the same as 2010 but

indices are looking up, so far.  If the bank owned homes are

dumped back on the market, this would erode prices further.

 

 

More East Grand Rapids Articles:

SEARCH FOR EAST GRAND RAPIDS HOMES

SEARCH for EGR Bank Owned + Short Sale Homes

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. We believe: Grand Rapids is a Great Place to Live!

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010 ar125812218972939 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010 ar125812225271331 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2010

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

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East Grand Rapids Michigan Top Best Buy Homes June 2011

East Grand Rapids Michigan Top Best Buy Homes June 2011

This is our list of the Top Best Buy East Grand Rapids Houses

to buy based on price/square foot.  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 and it should reflect

the interior finish of the home.  East GR has homes listed at almost

$500/ Sq Ft and under $100/Sq Ft, so the range here is wide.

 

For example, if it has crystal chandeliers, wood flooring, a new

kitchen, this would be more value per square foot than a home

that still has the 1980’s decor and/or is in derelict condition.

Please note that this list can change daily as some homes sell, prices

are adjusted and other homes come on the market.  If you would like

to sign up for daily new listing email, just contact Terry.  You can also

sign up for saved searches on our website.  This saves your profile

search and lets you monitor and control your search details.

Reeds Lake Yacht Club Docks

June 2011 –  TOP BEST BUY East Grand Rapids Homes

Lowest price/Sq Ft range from $66.62 to $119.96

Highest List Price -  $ 359,000

Lowest List Price -  $ 119,900

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

1600 Wealthy St SE   $119,900     1248 Sq Ft   $96.07/SqFt

2450 Gilmour St          $133,500     1500 Sq Ft   $89.00/SqFt

1112 Eastwood           $139,000     1275 Sq Ft   $109.02/SqFt

2151 Tenway             $145,000    1396 Sq Ft    $103.87/SqFt

1058 Orchard Ave      $149,900    1335 Sq Ft    $112.28/SqFt

2543 Richards Dr       $149,900     1400 Sq Ft    $107.07/SqFt

2073 Hall St SE           $154,900    1680 Sq Ft    $92.20/SqFt

2144 Hall St SE          $164,900     1742 Sq Ft    $94.66/SqFt

2405 Oakwood Dr      $165,000      1786 Sq Ft   $92.39/SqFt

1045 Lakeside Dr       $174,900     1520 Sq Ft    $116.07/SqFt

1032 San Juan Dr      $179,900     1696 Sq Ft   $106.07/SqFt

441 Rosewood            $179,900     1680 Sq Ft   $107.08/SqFt

1138 Lakeside Dr       $179,900      1736 Sq Ft    $103.63/SqFt

629 Gladstone Dr       $199,500      2146 Sq Ft    $92.96/SqFt

1640 Sherman St        $209,900      2037 Sq Ft    $103.04/SqFt

1555 Edgewood Ave     $227,000     2123 Sq Ft    $106.47/SqFt

715 Cambridge Blvd    $228,000    2177 Sq Ft    $104.73/SqFt

541-3 Greenwood       $244,900    3676 Sq Ft    $66.62/SqFt

2254 Brighton Dr         $269,900    2250 Sq Ft    $119.96/SqFt

1447 Woodcliff Ave    $274,900     2861 Sq Ft    $96.09/SqFt

2332 Boston St SE        $281,900    2358 Sq Ft    $119.55/SqFt

2733 Maplewood Dr     $295,000    2746 Sq Ft    $107.43/SqFt

1750 Robinson Rd         $299,900    2772 Sq Ft    $108.19/SqFt

3131 Lake Dr                $319,900    3300 Sq Ft     $96.94/SqFt

612 Laurel Ave SE        $359,900    3250 Sq Ft    $110.74/SqFt

22 Sold, 19 Pending in the last month in EGR

Average Sale Price  $ 287,523

Average Price/SqFt  $129.72

Home sales have increased this month, home inventory

is  moving in East GR.  Distressed properties are still popping up

but much scarcer than other areas around GR.  Price per square

foot is moving up slowly but can be affected by higher priced homes.

 

SEARCH EAST GRAND RAPIDS HOMES

Bank Owned & Short Sale EGR Homes Search

Related Posts:

Which Mortgage Do I Choose?

East GR  Real Estate Market Articles

Home Buyer Questions & Answers

East Grand Rapids – America’s Hometown

*Some of these homes may be bank owned foreclosures and

not habitable as is or available for a mortgage in present

condition.  Sold-As-Is*

If you would like to view an East Grand Rapids 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.

We believe: Grand Rapids is a Great Place to Live!

ar125812212017642 East Grand Rapids Michigan Top Best Buy Homes May 2011 ar125812218972939 East Grand Rapids Michigan Top Best Buy Homes May 2011 ar125812225271331 East Grand Rapids Michigan Top Best Buy Homes May 2011

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

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East Grand Rapids Michigan Real Estate Market Report Jan-Dec 2010

East Grand Rapids Michigan Real Estate Market Report  Jan-Dec 2010

Tree at EGR gaslight village

East Grand Rapids is a community of homes priced from the

low $100,000’s to over $2,000,000 with the majority of homes

selling from $120K to $400K.  Since this is such a large spread

it is difficult to produce true averages, so take that in consideration

with the following statistics.

 

2010 EGR STATS:

107 Active Listings for sale

10 Pending Home Sales

172 Sold Homes 

$256,760 Average Sold Price

111 Days Average Market Time

94.47% of List Price

Absorption Rate: 7 months

Synopsis:  25% Fewer homes were sold in 2010 than

 in 2009, though the average sold price is similar to

last year and the Absorption rate is slightly higher.

Demand for East homes is still high and the turnover

rate is better here than many other areas of metro GR.

Overall, a good year for buyers in East GR.

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!

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2009 ar125812218972939 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2009 ar125812225271331 East Grand Rapids Michigan Real Estate Market Report Jan Dec 2009

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

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