Grand Rapids Real Estate Market Report October 2016
Welcome to Grand Rapids Real Estate Market Report. Here you will find the current market information for October 2016 as reported by the Grand Rapids Board of Realtors. If you would like to have these market reports sent to your inbox for a specific area of town, drop me an email and I will set you up. We cover the entire Southwest Michigan area including the Lakeshore.
In this latest report for October 2016, we are continuing to experience a very active market although it appears to be slowing slightly. The Sales to Listing price ratio is 98.2% which is down from September’s 99.9%. This indicates that Grand Rapids Real Estate on average are very much in demand and selling at close to full price. The median price of active listings is $159,900 while the median price of sold property is $149,650.
Listing Inventory is still WAY down! We need listings so if you are thinking of selling your home, now is truly a GREAT time to put it on the market!
There are currently 554 active listings (219 new listings in October) in the market area this report covers, with 386 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 October is 43 days, which is slightly up from 38 days on the market in September.
What is Your Home Worth?
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 click on the image above and get an instant estimate of your home’s value (no charge).
We can also provide a detailed Price Trend Analysis complete with your closing cost estimate if you prefer. 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 waterfront home 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.
