Welcome to East Grand Rapids Market Report. Here you will find the current market information for December 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 December 2016, we are continuing to experience an active market although it has been slowing slightly over the last few months. The Sales to Listing price ratio is 95.0% which is down from December’s 98.7%. This indicates that homes on average are still very much in demand and selling at close to full price. This is primarily because of the lack of inventory in East Grand Rapids. The median price of active listings is $499,000 while the median price of sold property is $233,000.
Listing Inventory is still down! As of the publishing of this post, there are only 44 active listings in EGR. We have active, qualified buyers in many markets that are just waiting for property. If you are thinking of selling your home or condo, now is really a GREAT time to put it on the market!
Interest Rates are expected to rise this year!
There are currently 44 active listings (7 new listings in December) , with 10 properties selling. If you are looking for a great school system, enjoy being able to walk around Gaslight Village and Collins Park or like the idea of prime waterfront on Reeds Lake, let us help you get notified right away of any new listings.
The average days for on the market for December is 97 days, which is up from 69 days on the market in November.
East Grand Rapids Listings
New in December 2016. View all Active Listings.
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 call us today. You can 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.