East Grand Rapids Michigan Real Estate Market Report January-March 2014

East Grand Rapids Michigan Real Estate Market Report January-March 2014

 by Terry & Bonnie Westbrook

East Grand Rapids is a community of homes priced from the

mid $100,000’s to over $1,000,000 with the majority of homes

selling from $300K to $500K.

 

East Grand Rapids is a very popular place to live in the Greater

Grand Rapids area, its’ walkability, close to downtown GR businesses, 

shops, and restaurants in Gaslight Village are  the main reasons.

 

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East Grand Rapids Real Estate Report  January-March 2014

 

Active Listings – 42                 from $169,900 to $ 1,450,000

Pending Sales – 28

Sold Homes   – 35                

Average Sold Price – $ 348,017

 

The average sold home price has fallen slightly in East GR

in the last three months.  This is due to a dearth of homes for sale,

rather than a declining market.  Home inventory numbers are at all

time lows, just a few years from too many homes on the market.

Listing prices are definitely rising, but the average sale price dropped.

Lower priced homes, between one hundred and two hundred thousand

are difficult for buyers to find.  The low number of home transactions

for the first quarter is due to low inventory, also.

 

Grand Rapids is experiencing this throughout the Greater Grand Rapids

market, and it affects all price points.  Buyers are still wary of buying a

home that is over priced, so sellers are still sitting on the market if they

are over optimistic about their selling price.

 

If you have been thinking of selling your East Grand Rapids home,

2014 could be the time to call for a custom analysis of what your home

might be worth in today’s market!  If you have questions about

buying/selling an East Grand Rapids home,

give Terry a call at: 616-292-7263.

 

SEARCH EAST GRAND RAPIDS HOMES

East Grand Rapids Real Estate Market Reports

East Grand Rapids Michigan ~ America’s Hometown

 

Copyright 2014   All rights reserved.

______________________________________________________________________________

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!

ar125812212017642 East Grand Rapids Michigan Real Estate Market Report July   December 2013  ar125812225271331 East Grand Rapids Michigan Real Estate Market Report July   December 2013

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry  616-292-7263

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