Grand Rapids: More Than Just Shoreline
Grand Rapids, Michigan, is boasting more than just miles of beautiful shoreline, say local Realtors. It is also boasting an "inviting" market. "Grand Rapids, the second largest city in Michigan and the county seat of Kent County is located in central West Michigan and 30 minutes from the Lake Michigan shoreline," note Realtors Don and Dee Stanger "Current market conditions indicate 1239 homes are available in the city, not including the suburban areas, with the average sale price for the last 30 days of $120.869 with an average list price of $124,502. With an average time on the market of 72 days, statistics indicate the prices are up slightly and the market activity is in a neutral pattern trending toward a sellers market. We expect the real estate market to remain active in the upcoming year with interest rates still very inviting and mortgage products encouraging new buyers to the marketplace." "Making it a great place to live, too, is the proximity to the Lake Michigan shoreline, over a dozen institutes of higher learning, a cultural focus on the arts and sports & entertainment facilities second to none. Currently the city population is approximately 200,000 with the entire metropolitan area exceeding 1,000,000. " Realtor Bobbe Horton adds, "Only 30 minutes to swimming in Lake Michigan in the summer, or skiing down the hills of Grand Rapids in the winter, this is a friendly community offering the warmth of a small town with the employment and cultural opportunities of a big city." She continues, "In all but 2 of the 47 markets in the greater Grand Rapids Area, it is a buyer's market. The average price of a home in Grand Rapids as of August 2005 is $161,696. The average rate of appreciation in home values for the past year was 3.2 percent." "Inventory levels in the City of Grand Rapids, are quite in balance with only a 5.84 month supply. There are over 1200 homes available and they range from a low of $37,900 to a high of $895,000," comments Realtor Eric Webster. "There are plenty to choose from in every price range in between. If you are thinking that 2005 is the year for you, it's time to formulate your plan. If you are thinking about buying, moving up, buying investment properties, I would suggest that now is a great time." |
