GR home prices up 2nd time in 3 months

GRAND RAPIDS, Mich. (WOOD) - Sales prices of single-family homes is up in Grand Rapids for the second time in three months.

That's according to the Grand Rapids Association of Realtors, who noted the average price of a single-family home in the city increased $3,376 over the same period in 2008, up to $109,826.

"The hot market in the area continues to be the $100,000 to $140,000 range in single-family homes," association president Julie Reitberg said in a statement, "coupled with the first-time home buyers
tax credit, we have continued to see a healthy market into the fall where sales typically taper off."

For the year, sales of single-family homes was up 17.4% from the previous period.