Welcome to Grand Rapids Downtown Condos 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 condos sold in your downtown 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 condos still in demand. The Sales to Listing price ratio is 98.3% which is up from January’s 95.3%. This indicates condos on average are still very much in demand and selling at close to full price. This is primarily because of the lack of inventory but also because there are some very desirable condos downtown. The median price of active listings is $389,500 while the median price of sold property is $210,000.
Listing Inventory is still WAY down! As of the publishing of this post, there are only 45 listings (out of approximately 1100 downtown condos). We have active, qualified buyers in many markets including the downtown condo market that are just waiting for property. If you are thinking of selling your condo, now is truly a GREAT time to put it on the market!
Don’t forget that Interest Rates are expected to rise this year!
There are currently 45 active listings (16 new listings in February), with 13 condos selling. If you are looking for a lifestyle change and are considering downtown condo, let us help you get notified right away of any new listings.
The average days for on the market for February is 58 days, which is up from 54 days on the market in January.
Grand Rapids Downtown Condo Listings
New in February 2017. View all Active Listings.
What is Your Home Worth?
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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.