Belmont Home Sales For the Year

Going into the last part of the year, I feel there is some great news in our little town to share about home sales.

According to the the information from The Grand Rapids Association of REALTORS web site, it has some pretty impressive numbers for our neighborhood. Indeed the market has torn a path in equity, but the sale facts remain strong and looking to be stronger.

Currently as of 10/25/07

• There are 88 homes on the market in 49306
• Lowest: $88,900
• Hightest: $650,000
• Average asking price: $278,412
• Average days on Market: 123

Solds as of 10/25/07

• There has been 65 homes sold since the first of the 2007
• Lowest: $90,000
• Hightest: $650,00
• Average: $229,220
• Average days on Market: 109

What does this mean:

1. Out of the 88 homes 74% of them should sell
2. Lowest Sales Price has dropped by 1%
3. Hightest Priced Properties are equal
4. Sellers are getting 82% of the asking price
5. Average days on Market is 89% of what the current homes are listed