Welcome to our Grand Rapids Real Estate Market Report. Here you will find the current market information for March 2023 as reported by the Grand Rapids Board of Realtors.
Market reports are a useful tool 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.
Days on Market March 2023
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 March 2023, buyers are eagerly awaiting listings as inventory remains low. There would be many more homes sold if they were more available homes and condos on the market. The Sales to Listing price ratio is 103.6%% which is up from February’s 100.7%. We are starting to see more multiple offer scenarios again with the low inventory.
Homes and condos are still in demand in certain areas and selling over full price, primarily because of the lack of inventory.
Sale to List Price March 2023
LISTING INVENTORY IS STILL 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 a Still 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!
The average days on the market for March is 20 days, which is down from 40 days on the market in February, indicating a return to a more seller’s market. Spring is here.
What is Your Home Worth?
if you are thinking of selling your home, let us k ow how we can help.
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