Welcome to Grand Rapids Real Estate Market Report. Here you will find the current market information for January 2017 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 January 2017, we are continuing to experience an active market. It did slow during the month of December but inventory continues to remain low. The Sales to Listing price ratio is 98.5% which is down slightly from December’s 99.5%. 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 $225,000 while the median price of sold property is $136,000.
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!
Don’t forget that Interest Rates are expected to rise this year to the 5% mark.
There are currently 311 active listings (122 new listings in December) in the market area this report covers, with 217 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 December is 62 days, which is down from 70 days on the market in December.
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.