Lowell Michigan Real Estate Market Report Jan-Dec 2010
Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.
It has really grown in the last 20 years, in many ways. Lowell has a great
school system, a thriving business community, a lively arts society, and
is one of the growing Grand Rapids suburban communities in Kent County.
These are the statistics for home sales in the Lowell School District,
figured from Jan. 1, 2010 to Dec. 31, 2010
Active Listings: 102
Average Price: $235,224
Price per Sq Ft: $119.00 (Main Floor only)
PENDING: 29 homes
SOLD: 229 Sold Homes
Average Sold Price: $ 152,548
High $549,000 Low $ 14,750
Average Sold Price Per Sq Ft: $ 91.04 (Main floor only)
Average Sold Price to List Price: 95.48%
Absorption Rate for Lowell Listings is 4.7 months for the
current housing inventory. If no other homes enter the market, it
will take 4.7 months for the current homes to sell at the current
rate of sales. This figure is half of 2009’s rate and is in the normal
range of 3-6 months.
Lowell Homes that are priced competitively are selling.
As you can see by the statistics, the homes that have their price
per square foot about $90 -$95/Sq Ft are seeing the most activity.
There are still a few foreclosure or short sale homes which are
bringing down the average sales price and square footage rates
lower than they might normally be, but average list price is up
and average sold price is up from last years stats.
Some sellers have retired from the market and will try again this
spring, driving prices downward, unless demand increases dramatically.
Additional Lowell Articles:
Lowell Michigan Real Estate Market Reports
If you would like additional information about Lowell
Area Homes, please contact me through email or my web site.
Copyright 2011 All rights reserved
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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