West Michigan Real Estate Market Stabilizing

According to an article in the Grand Rapids Press, “the ‘fast and furious’ pace of real estate sales in the first six months of 2013 is showing some signs of stabilizing.

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“While new listings were up 4.4 percent for the first half of the year, home sales were up 29 percent, according to GRAR figures. A total of 5,151 home sales were closed in the first six months compared to 4,087 sales in 2012.

The average home sold for $161,182 in June, an increase of almost 17 percent over last year’s average June sale price of $138,472.

‘It’s getting much more attractive for people to go out and list their property,’ [Terry] Westbrook said.”