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 small price erosion from last month’s figures,
again this month, though the spring activity is high. Foreclosures are
still affecting the average market price here as Grand Rapids has seen
jobs disappear.
The homes under $ 150K in Kentwood are seeing about 70% of the
overall sales of Kentwood homes. 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 light blue 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: $115,127
In 2009, Kentwood has had 462 home sales: avg sold price:$ 102,268
Home sales for Kentwood – Up to $149,999:
150 Active Listings with Avg price $ 126,875
139 sold since January 2009
66 Pending sales
Avg sold price $96,722
Avg Days on Market – 88
Home sales for Kentwood – $150,000 UP:
74 Active Listings with avg price of $ 189,463
25 sold since January 2009 Low: $150,000 High: $925,000
7 Pending Sales
Avg sold price $150K+ $204,449
Avg Days on Market – 143
66 Expired Listings with Avg DOM of 192 days
Kentwood Absorption Rate for this price range is 5.67 months,
at the current rate of sale (which means if no new listings come
on the market, it will take 5.67 months to sell the active listed
homes). This is down from last month, which is good news, though
the average prices on the lower end are still going down. I would
assume this is due to bank foreclosures and short sales which have
driven down home price averages for most of Kentwood.
Kentwood Michigan Top Best Buy Homes June 2009
Kentwood Michigan Absorption Report May 2009
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 Real Estate ~ Westbrook Realty
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