Lowell Michigan Real Estate Market Report ~ February 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.

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Active Listings: 142 Active Listings

Average Price: $258,078

Price per Sq Ft: $126.27 (Main Floor only)

Average days on the Market: 88

PENDING: 18 homes

SOLD: 44 Sold Homes

Average Price: $ 132,038

Average Price Per Sq Ft: $ 76.59 (Main floor only)

Average Days on the Market: 47

Expired: 29 Expired listings

Average Expired Price: $222,459

Average Price Per Sq Ft: $140.29 (Main floor only)

Average Days on the Market: 94

Absorption Rate for Lowell Listings is 16.13 months for the

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

will take 16.13 months for the current homes to sell at the current

rate of sales.

Lowell Homes that are priced competitively are selling and selling

fairly quickly compared to the greater Grand Rapids area.

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

per square foot under $100 are seeing the most activity, although some

sales up to $ 145 a square foot are also moving. 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 should be.

Some 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.

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

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