Rockford Michigan Real Estate Market Report Jan - Dec 2009
By Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re
(Westbrook Realty Broker-Owner)
Current Real Estate Market Report Rockford Michigan ~2009 Current Absorption Rate for Rockford Michigan runs from 9.7 months for lower end homes under $ 185,000, up to over 3 years for the very upper end of the Rockford market. The lower end of the Rockford market is moving faster than higher priced homes for 2009. With interest rates likely to rise in 2010 and with buyer tax credits disappearing after the first quarter, long listing times in Rockford will likely continue into 2010, with a decrease in prices driven down by weak buyer demand. 202 Active Rockford MI Listings under $185,000 Absorption Rate : 9.7 months Sold Rockford Homes: 248 Pending Rockford Homes: 36 Average sold price $ 131,004 High Sold price $185,000 Low Sold price $53,900 Average Sold Price/SqFt $94.50 Rock...
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