Wyoming Michigan ~ Real Estate Market Report ~ August 2008

Wyoming Michigan is a large suburban city adjacent to Grand

Rapids Michigan. Wyoming MI homes are moderately priced,

which makes it an active market in this economy.

Wyoming Michigan has had 267 homes sold since May 31, 2008

through August 31, 2008 recorded on the Grand Rapids Real Estate

Board Multiple Listing Service priced from $30,000 to $265,000.

Ranch homes have been the major category with 186 sold, two stories

are about two thirds less with a total of 63 sold, and multi-levels have

had 18 homes sold.

Wyoming MI ranch homes have sold for an average price of $110,088

at $101.82 per sq/ft, and took an average 112 days on the market to sell.

Obviously the lower price levels have affected this average ( low price $37,900

vs high price of $265,000) I would assume the lowest price levels are bank

owned foreclosures negatively affecting the market price.

Wyoming MI two story homes have held their value a little better at an

average price of $124,355, price per sq/ft at $ 105.35, and selling in an

average of 128 days on the market.

Wyoming MI multilevel homes are averaging $125,450, price per sq/ft

at $88.72, selling in an average of 99 days on the market.

As you can see, Wyoming Michigan homes listed at a high price are

not selling until the price gets close to the average or below for sold

homes. If you don’t have to sell your Wyoming home now, it might be

better to wait for a stronger seller’s market. On the other hand, it is a

perfect time to move up because you will be able to buy your next

house at the lowest prices seen in 5 years in this area. And interest rates

at are all time record lows. It can’t get any better than that.

If you have any questions about Wyoming MI Homes, contact

me directly at:1-888-240-1968 ext 0

All information is subject to verification and no liability for error

or omission is assumed.

Grand Rapids Real Estate