Grand Rapids Real Estate – June Market Update

 

Grand Rapids Home Sales up 26.2% From a Year Ago

Grand Rapids Real Estate Market The Grand Rapids housing market continues to show signs of life as home sales were up 26.2% compared to June 2008. For the third consecutive month, single family homes have seen an increase in the average sales price (up to $119,923) from $97,073 in April 2009. This number does show improvement and is encouraging, but it is still down 12.5% from last June. These figures were prepared by the Grand Rapids Association of Realtors. This portrays a 19.9% increase in the home sale price from the beginning of 2009, where home prices were $95,010 for the month of January. The number of active listings in the Grand Rapids real estate market continues to remain steady at slightly over 9000. Sales year-to-date for single family homes was up 10.9% compared to one year ago.

These are good signs for our market. Especially when you take into consideration the amount of distressed homes such as short sales and foreclosures which are hurting and dragging down the overall Grand Rapids housing market.

Other positive indicators which show a good market trends are the average days on market, which is going down while the average selling price, median sales price and the percentage of the listing price compared to sales price, all continue to show improvement.

For more information about the Grand Rapids Real Estate market or to search for homes online, visit my website or contact me any time.

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