Lowell Michigan Real Estate Absorption Report ~ May 2009
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 best kept secrets in Kent County.
These are the statistics for home sales in the Lowell School District.
Active Listings: 193 Active Listings
Average Price: $268,290
Price per Sq Ft: $133.97 (Main Floor only)
Average days on the Market: 159
PENDING: 31 homes
SOLD: 60 Sold Homes
Average Sold Price: $ 144,328
Average Sold Price Per Sq Ft: $ 87.07 (Main floor only)
Average Sold Days on the Market: 107
Expired: 83 Expired listings
These stats are figured from Jan 1, 2009 to May 28,2009
Absorption Rate for Lowell Listings is 10.6 months for the
current housing inventory. If no other homes enter the market, it
will take 10.6 months for the current homes to sell at the current
rate of sales. This is getting close to normal range of 6-8 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 under $90 are seeing the most activity. There are
quite 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 both average list price and average sold
price are up from last months stats.
Some sellers have retired from the market and will try again soon,
filling an already saturated market.
They might find a better buying market, but price is still king.
Today’s buyer is looking for a well priced bargain in great condition.
Lowell Michigan Top Best Buys May 2009
Lowell Michigan Real Estate Market Report April 2009
Lowell Michigan Real Estate Market Report March 2009
Lowell Michigan Real Estate Market Report February 2009
If you would like additional information about Lowell
Area Homes, please contact me through email or my web site.
Grand Rapids Ada Real Estate ~ Westbrook Realty
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