Welcome to our Grand Rapids Real Estate Market Report. Here you will find the current market information for February 2017 as reported by the Grand Rapids Board of Realtors.
Market reports are useful when researching specific areas of town, particularly when selling a home. You can learn about pricing trends, how many days homes last on the market, median prices, sale to list price ratios and more. We also provide a snapshot of homes sold in your market.
You can have these market reports sent to your inbox each month for specific areas of town. Follow the link below to the main report page and select the drop down to find your market. If you don’t see your market, we can create it for you. We cover the entire Southwest Michigan area including the Lakeshore.
In this latest report for February 2017, we are continuing to experience an active market with buyers eagerly awaiting listings. There would be many more homes sold if they were on the market. The Sales to Listing price ratio is 98.4% which is down slightly from January’s 98.5%. This indicates homes and condos on average are still very much in demand and selling at close to full price primarily because of the lack of inventory. The median price of active listings is $254,900 while the median price of sold property is $145,000.
Listing Inventory is still WAY down! We have active, qualified buyers in many markets, including the downtown condo market, that are just waiting for listings. If you are thinking of selling your home or condo, now is truly a GREAT time to put it on the market. Please give me a call or fill out the form below and tell us about your home!
Don’t forget that Interest Rates are expected to rise this year to the 5% mark.
There are currently 297 active listings (141 new listings in January) in the market area this report covers, with 236 properties selling. If you are looking for a home or condo, let us help you get notified right away of any new listings.
The average days on the market for February is 43 days, which is down from 62 days on the market in January.
What is Your Home Worth?
Please tell us about your home!
We have qualified buyers actively looking for real estate in Grand Rapids! Do you have a home or condo to sell? If you do, please call us today. You can fill out the form above and tell us about your home. We will then contact you and provide a detailed Price Trend Analysis (no charge).
We can also provide a closing cost estimate. Please contact us at your earliest convenience. Inventory is low and we would love to sell your home!
Sign Up for Listing Alerts!
You can use this website to sign up for listing alerts and have new listings sent directly to your inbox for every condo development, gated community or body of water in the area. Or create your own unique listing alert for your specific needs.
The emails go out daily and you have a much greater chance of seeing that home you have been looking for and avoiding learning about it a day late.