East Grand Rapids Market Watch

The numbers are in! I have had a month to review those numbers, and contemplate the hard facts, and decipher what they mean as it relates to the East Grand Rapids 2010 Real Estate Market Values.

One number that jumps out at me: The average time on the market is only 73 days!

In a sluggish market, the average time of the market is as high as 180 days. Seeing only 73 days is very encouraging news. It also reinforces advice I give my clients when asked if East Grand Rapids is a good place to invest.

In the past, I’ve always answered “Yes” to the investment question without any hesitation. However, over the last couple of years I have been wondering if saying “Yes” was going to be true.

East Grand Rapids Market Watch

One of the key factors in retaining value is demand. One of the measurements of demand is average days on the market. The shorter the market time the stronger the demand and consequentially home values tend to hold.

Another key factor to note is that five of the shortest days on market times are in the higher price range. This shows me that the hottest demand is for the higher priced homes.

Call me a Reagan Conservative but I believe in trickle down real estate. When higher-priced homes sell, it is usually because the buyer just sold their medium-priced home, which was bought by someone who sold their original starter home, which was bought by a first time homeowner.

I am looking forward to analyzing these numbers further and seeing what other insights we can find.

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