Welcome to our Grand Rapids Real Estate Market Report. Here you will find the current market information for November 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 homes sold in your 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 November 2017, at this time of year after Thanksgiving, we typically see a slow down. However, we are continuing to experience an active market in certain niches, with buyers eagerly awaiting listings. 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 98.8% which is down from October’s 99.4%.
Homes and condos are very much in demand and selling close to full price in some markets, primarily because of the lack of inventory. The median price of active listings is $204,999 while the median price of sold property is $160,500.
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 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!
There are currently 485 active listings (165 new listings in November) in the market area this report covers, with 296 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 September is 53 days, which is up from 43 days on the market in October, again indicating lack of inventory.
What is Your Home Worth?
Please click the image above or tell us about your home!
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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 fill out the form above and tell us about your home. We will then contact you and provide a detailed Price Trend Analysis (no charge).
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.