Kentwood Michigan Real Estate Market Report Jan-June 2011
Kentwood Michigan is a large suburb of Grand Rapids with a population
under 50,000. It has manufacturing, shopping centers, and lots and lots
of residential housing. Kentwood Public Schools are one of the largest
school systems in the area with over 9000 students and 16 buildings
within a 24.25 square mile area.
Kentwood home sales have recouped some of their value this year
though sales volume is down. We are still seeing some home price
reduction on homes in poor/dated condition. Good news for sellers,
Kentwood has decreased absorption rates as fewer homes are entering
the market, 60% less homes sold in 2010 than in 2009.
2011 Mid Year Kentwood STATS:
368 Active Listings for sale
124 Pending Home Sales
223 Sold Homes
$96,571 Average Sold Price
96.83% of List Price
Absorption Rate: 6.3 months
Home prices are still depressed in many areas of Kentwood
compared to a few years ago. The Absorption rate is a bit lower than
last year, which is a good sign.
Foreclosures and short sales are still affecting the average market price
in Kentwood. Home prices will be affected by the way banks handle their
home inventory that is still being held. If they take a measured approach
to putting these homes on the market, prices will not be affected as much
as if they dump the large home inventory they still hold on the market as
soon as possible.
More Kentwood Michigan Articles:
SEARCH for Kentwood Michigan Homes
SEARCH for Bank Owned – Short Sale Kentwood Homes
Kentwood Michigan Real Estate Market Reports
Real Estate is always hyper-local. If you have questions about
a specific Kentwood home, please contact me.
Copyright 2010 All rights reserved
Photo of Kentwood Public Library by Bonnie Westbrook
____________________________________________________________________________
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