Lowell Michigan Real Estate Market Report Jan-Dec 2010

Lowell Michigan Real Estate Market Report  Jan-Dec 2010

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 growing Grand Rapids suburban communities in Kent County.

These are the statistics for home sales in the Lowell School District,

figured from Jan. 1, 2010 to Dec. 31, 2010

Lowell Michigan Skyline across Flat river winter

 

Active Listings: 102

Average Price: $235,224

Price per Sq Ft: $119.00 (Main Floor only)

PENDING: 29 homes

SOLD: 229 Sold Homes

Average Sold Price: $ 152,548

High $549,000  Low $ 14,750

Average Sold Price Per Sq Ft: $ 91.04 (Main floor only)

Average Sold Price to List Price:  95.48%

 

Absorption Rate for Lowell Listings is 4.7 months for the

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

will take 4.7 months for the current homes to sell at the current

rate of sales. This figure is half of 2009’s rate and is in the normal

range of 3-6 months.

 

Lowell Homes that are priced competitively are selling.

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

per square foot about $90 -$95/Sq Ft are seeing the most activity.

There are still a few foreclosure or short sale homes which are

bringing down the average sales price and square footage rates

lower than they might normally be, but average list price is up

and average sold price is up from last years stats.

Some sellers have retired from the market and will try again this

spring, driving prices downward, unless demand increases dramatically.

 

Additional Lowell Articles:

Lowell Michigan Real Estate Market Reports

Video Tour of Lowell Michigan

Lowell Michigan Events

 

If you would like additional information about Lowell

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

Copyright 2011     All rights reserved

_____________________________________________________________________________

The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in West

Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan

area with a diverse business community, great medical research & services,

numerous universities, plus lively arts and entertainment of all kinds.

We believe: Grand Rapids is a Great Place to Live!

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Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

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