Kentwood Michigan Real Estate Market Report Jan-Dec 2009

Posted on January 13, 2010 by Terry & Bonnie

Kentwood Michigan Real Estate Market Report Jan-Dec 2009

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 high school kentwood mi

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 still seeing some price reduction even though activity is high.

On the good news for sellers, 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 80% of the

overall sales. The homes over $150K are selling but at a slower rate.

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 448 home sales: avg sold price:$ 100,561

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

116 Active Listings w Avg sold price $ 115,673

378 sold Avg sold price $102,538

Home sales for Kentwood – $150,001 & UP:

58 Active Listings w avg sold price of $ 189,463

70 sold Avg sold price $150K+ = $174,132

Kentwood Absorption Rate for this price range is 4.6 months,

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

on the market, it will take 4.6 months to sell the active listed

homes). This is a great rate for the Grand Rapids area and shows

that Kentwood is a popular and affordable city to live in.

Kentwood Michigan Real Estate Market Reports

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

a specific Kentwood home, please contact me.

Photo of Kentwood High School 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. 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!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

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Kentwood Michigan Real Estate Market Report ~ June 2009

Posted on July 5, 2009 by Terry & Bonnie

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 high school kentwood mi

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 still seeing a small price erosion from last month’s figures,

again this month, though the spring activity is high. Foreclosures 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 of Kentwood homes. 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 light blue carpeting,

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

sold sign this year.

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 462 home sales: avg sold price:$ 102,268

Home sales for Kentwood – Up to $149,999:

150 Active Listings with Avg price $ 126,875

139 sold since January 2009

66 Pending sales

Avg sold price $96,722

Avg Days on Market – 88

Home sales for Kentwood – $150,000 UP:

74 Active Listings with avg price of $ 189,463

25 sold since January 2009 Low: $150,000 High: $925,000

7 Pending Sales

Avg sold price $150K+ $204,449

Avg Days on Market – 143

66 Expired Listings with Avg DOM of 192 days

Kentwood Absorption Rate for this price range is 5.67 months,

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

on the market, it will take 5.67 months to sell the active listed

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

the average prices on the lower end are still 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 June 2009

Kentwood Michigan Absorption Report May 2009

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

Kentwood Michigan Absorption Report ~ May 2009

Posted on May 25, 2009 by Terry & Bonnie

Kentwood Michigan Real Estate Market Report ~ May 2009

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 high school kentwood mi

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 still seeing a small price erosion from last month’s figures,

again this month, though the spring activity is high. Foreclosures are

still affecting the average market price here as Grand Rapids has seen

jobs disappear.

The homes under $ 150K in Kentwood are seeing 5-6 times the

sales of the homes over $150K. 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 light blue carpeting,

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

sold sign this year.

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 335 home sales: avg sold price:$97,340

Home sales for Kentwood – $70,000 to $149,999 price range:

142 Active Listings with Avg price $ 126,875

77 sold since January 2009

38 Pending sales

Avg sold price $70K-150K $110,473

Avg Days on Market – 88

Home sales for Kentwood – $150,000 to $400,000 price range:

86 Active Listings with avg price of $ 182,999

12 sold since January 2009

6 Pending Sales

Avg sold price $151K-400K $176,707

Avg Days on Market – 129

50 Expired Listings with Avg DOM of 129 days

Kentwood Absorption Rate for this price range is 8.5 months,

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

on the market, it will take 8.5 months to sell the active listed

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

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

Real Estate Absorption Report Kentwood Michigan April 2009

Posted on April 20, 2009 by Terry & Bonnie

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 high school kentwood mi

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 still seeing a teeny price erosion from last month’s figures,

again this month.

The homes under $ 150K in Kentwood are seeing the 4-5 times the

sales of the homes over $150K. 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 gold shag carpeting,

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

sold sign this year.

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 233 home sales: avg sold price:$92,789

Home sales for Kentwood – $70,000 to $149,999 price range:

141 Active Listings with Avg price $ 126,911.

116 sold since September 2008

40 Pending since last month

Avg sold price $70K-150K $112,369

Avg Days on Market – 103

Home sales for Kentwood – $150,000 to $400,000 price range:

94 Active Listings with avg price of $ 184,422

27 sold since September 2008

5 Pending Sales

Avg sold price $151K-400K $182,374

Avg Days on Market – 115

111 Expired Listings with Avg DOM of 181 days

Kentwood Absorption Rate for this price range is 10 months,

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

on the market, it will take 10 months to sell the active listed

homes).

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 Ada Real Estate ~ Westbrook Realty

Caledonia Michigan Real Estate Report ~ Crystal Springs Feb 2009

Posted on February 25, 2009 by Terry & Bonnie

Crystal Springs ~ Kentwood Absorption Report February 2009

Crystal Springs Development in Caledonia, Michigan is a large, residential

suburban housing development that was started in the late 1980’s and

most construction was finished in the 1990’s although some newer homes

have been built since 2000. There are also a few vacant lots left to develop.

This development covers a large area around the Stonewater Golf Course

at Crystal Springs south of 68th Street to 72nd Street and encompassing

Kalamazoo Avenue on the east and west. This development has single

family homes and condos, many located right on the Stonewater Golf Course.

The public school system is Kentwood, even though the address is Caledonia.

Crystal Springs is close to the shopping plaza at 68th and Kalamazoo,

Kentwood High School, and a short hop to M-6, which is the south beltline for

the Greater Grand Rapids area connecting US 131 on the west and I96 on the

east side of the city.

February 2009 Real Estate

Residential Market Report

Crystal Springs Neighborhood

Active Listings: 25 Active Listings

Average Price: $255,554

Price per Sq Ft: $105.27 (Main Floor only)

Average days on the Market: 123

PENDING: 4 homes

SOLD: 24 Sold Homes

Average Price: $ 204,579

Average Price Per Sq Ft: $ 96.31 (Main floor only)

Average Days on the Market: 77

Expired: 36 Expired listings

Average Expired Price: $256,977

Average Price Per Sq Ft: $109.03 (Main floor only)

Average Days on the Market: 154

Absorption Rate for Crystal Springs Listings is 12.5 months for the

current housing inventory. If no other homes enter the market, it

will take 12.5 months for the current homes to sell at the current

rate of sales.

Crystal Springs Homes that are priced competitively are selling.

As you can see by the statistics, the homes that have their price

per square foot around $100 are selling in under 3 months.

Many sellers have retired from the market and will try again in

the spring. They might find a better buying market, but prices are

still on the downward trend. With lower interest rates, this may

spur the local economy and put more buyers into the game.

Watermark CC purchases Crystal Springs GC

Crystal Springs GC has a new look & a new name

Caledonia MI Sept 2008 Real Estate Market Report

Kentwood MI Real Estate Market Report Oct 2008

Caledonia MI Crystal Springs Market Report Oct 2008

Caledonia MI Crystal Springs Market Report Nov 2008

Caledonia MI Crystal Springs Market Report Dec 2008

If you would like additional information about Caledonia

or Kentwood Homes, please contact me directly at

1-888-240-1968 ext 0

Grand Rapids MI Real Estate ~ Westbrook Realty

photo of Kentwood High School by Bonnie Westbrook

Kentwood MI Absorption Report ~ Jan 2009

Posted on February 6, 2009 by Terry & Bonnie

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.

The downward trend of the last few years in Kentwood home sales

is still continuing this year. We are seeing a slight price erosion from

last month’s figures.

The upper end homes in Kentwood aren’t seeing the kind of activity

that the lower end homes are getting. They are priced too high for

today’s timid buyers 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 brown shag carpeting, you

will need to upgrade or lower your price.

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.

Home sales for Kentwood – $70,000 to $150,000 price range:

95 sold since September 2008.

Kentwood Absorption Rate for this price range is 7.68 months,

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

on the market, it will take 7.68 months to sell the listed homes).

146 Active Kentwood Listings $70K- $150K

Average Kentwood sold price: $112,522

Average Kentwood Sold Price per Sq Ft: $84.57

Average Kentwood List Price: $ 123,717

Average Kentwood List Price/SqFt: $ 98.58

Kentwood Home Sales – $150,000 to $400,000 Price Range

27 Sold Homes since September 1, 2008

Kentwood Absorption Rate for this price range is 17 months.

Average Kentwood Sold Price is $179,048

Average Kentwood Sold Price per Sq Ft is $89.38

Average Kentwood List Price: $ 187,977

Average Kentwood List Price/SqFt: $ 107.37

Kentwood MI Real Estate Market Report Dec 2008

Kentwood MI Real Estate Market Report Oct 2008

Kentwood MI Real Estate Market Report November 2007

Kentwood MI Real Estate Market Report January 2008

If you would like additional information about Kentwood or

Grand Rapids Homes, please contact me directly. These free

reports can be emailed to your inbox, contact me.

Grand Rapids Ada Real Estate Five Star Real Estate LLC

photo of Kentwood High School Football Stadium by Bonnie Westbrook

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: Kentwood MI Market reports

Kentwood Michigan Real Estate Market Report Jan-Dec 2009