East Grand Rapids real estate always has been and continues to be a good investment. As real estate values across the country have dropped double digit figures, we here in Michigan have felt some of those same figures. The east side of Michigan has been hit hard with the auto industry issues and their real estate values are down 18 to 30% from the Detroit area north to the Tri-cities,(Flint, Saginaw and Bay City).
Here in western Michigan, we have also had a few down years in real estate values, but not as hard hit as the East side of the state. The greater Grand Rapids area is down about 13 to 19% across the board….but then there is East Grand Rapids.
The East Grand Rapids real estate market has seemed to continue to hold most of it’s value. Yes, there have been some declines in value, but not nearly as significant. Here are some numbers to look at for homes sold in East Grand Rapids in 2008-2010:
2008 average sale price – $254,000
2009 average sale price – $257,000
2010 average sale price – $275,000
So, when you are looking to buy a home in the Grand Rapids real estate market, remember to think long term, as your home is not just what you live in, but it is also a very large investment in your future. What makes East Grand Rapids real estate values so strong over the years? The East Grand Rapids schools, some of the best in the state, Reeds Lake and Fisk Lake, the parks, Gaslight Village, sidewalks and above all, the community and it’s people.
An East Grand Rapids home has proven over the years to be a great investment and as you can see, continues to be a very good investment in your future.