Home Prices Since the Peak
Here is a nice infographic from the folks at Keeping Current Matters, which shows the Peak date and percentage of decline from the top 20 cities in the country. It’s too bad the numbers from Grand Rapids aren’t shown here but it is interesting all the same.
According to a report on MLive, Grand Rapids total property value declined by 15.2 percent from 2007 to 2012 and by 4.8 percent from 2011 to 2012. Adjusted for inflation, its drop in property value from 2007 to 2012 was 23.4 percent. It was 6.7 percent from 2011 to 2012.
Today though, property values are increasing and inventory is low. Particularly in niche markets for example, Grand Rapids Downtown Condos. Here is a recent post illustrating downtown condo sales. If you are thinking of selling, now is a good time.
If you are in the market to purchase a home or condo in Grand Rapids, start your home search here. Receive same day Email Alerts of new Grand Rapids listings and price reductions and schedule your property showings online and save your searches and favorites to review later. Remember, we are seeing multiple offers on many properties and if the home or condo is priced well and in good condition, it will sell quickly. Setting up an Email Alert, will notify you of a property the same day and will save you time and help to prevent you losing a chance on a home.
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