East Grand Rapids Michigan Real Estate Market Report ~ June 2009

Current Real Estate Market Report For East Grand Rapids Michigan

East Grand Rapids MI Public Library

Absorption rate for East Grand Rapids MI housing market is currently

at 12 months, which means if no new listings come on the

East Grand Rapids market, it will take 12 months for the existing

home inventory to sell.

There are 169 active listings on the East Grand Rapids market now,

up slightly from last month, ranging from $99,980 to $2,039,000.

32 Pending Home Sales

84 Sold Homes with sold prices ranging from $ 25,000 to $ 1,275,000

since Jan 1, 2009 in the East Grand Rapids housing inventory.

East Grand Rapids Homes up to $200,000

Active Listings – 34

Pending – 15

Sold – 36

Avg Sold Price – $ 137,382

East Grand Rapids Homes $200,000 to $300,000

Active Listings - 46

Pending – 10

Sold - 23

Avg Sold Price – $ 251,570

East Grand Rapids Homes $ 300,000 to $500,000

Active Listings - 52

Pending - 4

Sold – 9

Avg Sold Price – $ 367,611

East Grand Rapids Homes $ 500,001 ++

Active Listings - 37

Pending – 3

Sold – 3

The lower end of this market (under $300K) has seen about 85 %

of the sales in the last six months. With the current lowest list price

at $ 99,980, it looks like the bargain basement days in EGR housing

is phasing out. Almost half of these sales have been over $ 100

a square foot. Homes in the higher prices are selling, but much

slower than normal.

If you have any questions about the value of your East GR home,

please contact me directly:

ph 1-888-240-1968 ext 0

Photo of East Grand Rapids Public Library by Bonnie Westbrook

Grand Rapids Real Estate