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 are still on a general downward trend

in price. Over 1/3 of Kentwood Homes Equity has dissolved in

the last 3 years, according to the current stats.

We are seeing some price recovery from last month’s figures

and the overall summer activity is high.  Kentwood has one of

the lowest absorption rates in the area.

Foreclosures and short sales  are still affecting the average

market price here as Grand Rapids has seen jobs disappear.

The homes under $ 150K in Kentwood are seeing about 70% of  the

overall sales.  The homes over $150K may be priced too high for

today’s timid buyers (many of them think prices will erode still

further) or it could be condition.  Your list price has to

be close to the sale price or your home just doesn’t get serious

buyer activity.  And if you still have the old carpeting,

you will need to upgrade or lower your price if you want

to see a sold sign this year.  We are seeing serious buyers

vying for the best homes on the market with multiple offers.

In 2006, Kentwood has 495 home sales:avg sold price:$159,788

In 2007, Kentwood had 434 homes sales: avg sold price:$151,009

In 2008, Kentwood had 722 home sales:avg sold price: $115,127

In 2009, Kentwood has had 547 home sales: avg sold price:$ 99,354

Home sales for Kentwood – Up to $150,000:

153 Active Listings with Avg price $ 124,754

139 sold since May 1, 2009

Avg sold price   $108,847

Avg Days on Market – 87

Home sales for Kentwood – $150,001 UP:

70 Active Listings with avg price of $ 189,463

29 sold since May 1, 2009  Low: $150,195  High: $232,000

Avg sold price $150K+ = $168,976

Avg Days on Market – 138

Kentwood Absorption Rate for this price range is 4 months,

at the current rate of sale (which means if no new listings come

on the market, it will take 4 months to sell the active listed

homes). This is down from last month, which is great news,

though the average sold prices on the lower end are going up

slightly and average price on upper end is going down.  I would

assume this is due to bank foreclosures and short sales which

have driven down home price averages for most of Kentwood.

Kentwood Michigan Top Best Buy Homes July 2009

Kentwood Michigan Absorption Report June 2009

Kentwood Michigan Real Estate Information

Real Estate is always hyper-local. If you have questions about

a specific Kentwood home, please contact me:

phone: 1-888-240-1968 ext 0

or email: Terry@terrywestbrook.com

Grand Rapids Real Estate ~ Westbrook Realty

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