Kentwood Michigan is a large suburb of Grand Rapids with a population
under 50,000. It has manufacturing, shopping centers, and lots and lots
of residential housing. Kentwood Public Schools are one of the largest
school systems in the area with over 9000 students and 16 buildings
within a 24.25 square mile area.
Kentwood home sales are still on a general downward trend
in price. Over 1/3 of Kentwood Homes Equity has dissolved in
the last 3 years, according to the current stats.
We are still seeing a teeny price erosion from last month’s figures,
again this month.
The homes under $ 150K in Kentwood are seeing the 4-5 times the
sales of the homes over $150K. The homes over $150K may be
priced too high for today’s timid buyers (many of them think prices
will erode still further) or it could be condition. Your list price has to
be close to the sale price or your home just doesn’t get serious
buyer activity. And if you still have the gold shag carpeting,
you will need to upgrade or lower your price if you want to see a
sold sign this year.
In 2006, Kentwood has 495 home sales:avg sold price:$159,788
In 2007, Kentwood had 434 homes sales: avg sold price:$151,009
In 2008, Kentwood had 722 home sales:avg sold price: $115,127
In 2009, Kentwood has had 233 home sales: avg sold price:$92,789
Home sales for Kentwood – $70,000 to $149,999 price range:
141 Active Listings with Avg price $ 126,911.
116 sold since September 2008
40 Pending since last month
Avg sold price $70K-150K $112,369
Avg Days on Market – 103
Home sales for Kentwood – $150,000 to $400,000 price range:
94 Active Listings with avg price of $ 184,422
27 sold since September 2008
5 Pending Sales
Avg sold price $151K-400K $182,374
Avg Days on Market – 115
111 Expired Listings with Avg DOM of 181 days
Kentwood Absorption Rate for this price range is 10 months,
at the current rate of sale (which means if no new listings come
on the market, it will take 10 months to sell the active listed
homes).
Real Estate is always hyper-local. If you have questions about
a specific Kentwood home, please contact me:
phone: 1-888-240-1968 ext 0
or email: Terry@terrywestbrook.com
Grand Rapids Ada Real Estate ~ Westbrook Realty
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