Grand Rapids Downtown Condo Sales

Grand Rapids Downtown Condo Sales

Grand Rapids Downtown Condo Sales Grand Rapids downtown condos are in demand and are selling fast. Sometimes they sell even before officially being listed on the MLS (Multiple Listing Service). The downtown condo market has experienced quite a resurgence over the last eighteen months. With approximately 1100 or so condos that can be considered “downtown”, a quick condo search shows us that as of this writing, we have 50 downtown Grand Rapids condos for sale with prices varying from $68,000 for a 1 Bedroom unit at 505 Cherry St SE (Hillmount Condos), to a spectacular Grand Rapids Penthouse Condo selling for $4,200,000 at 335 Bridge St NW #3100, (River House Condos).

Not only are downtown condos selling quickly but many developments have seen prices increase dramatically. River House Condos are definitely one of those, whose owners have enjoyed benefiting from the strong seller’s market.

Since the beginning of 2014, there have been 89 downtown condos sold from $73,000 to $520,000. This report shows the condo sales from January 1st with prices ranging from ~$200,00 and up. Average time on the market is 65 days with the sales price 96.75% of the listing price.

If you are in the market to purchase a downtown condo, feel free to give me a call or text at 616-570-1871. I will create a personal profile for you and you will be notified immediately whenever there is a new listing or one comes back on the market and of any price changes. This will help you to be first in line to take a look at them.

If you are thinking of selling your downtown condo, the market is very strong and inventory is low. Bottom-line… It is a great time to put your condo on the market. Our team can help you with setting the price, learning what closing costs are involved, marketing and every aspect of the transaction up to the date of close.

Search for Downtown Condos

Use this quick and easy tool to find your condo. If you have something specific in mind, let me know and I will get you the information or set up a showing for you right away.

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 Grand Rapids Downtown Condos

44 Lafayette Condos | 47 Lafayette Condos | 65 Monroe Condos | Avenue 23 Condos

Belknap Brownstones Condos | Boardwalk Condos | Brickway Residences

Cherry St Lofts | Cityview Condos | Clark Place Condos | El Dorado Condos

Fitzgerald Residences | Forslund Condos | Front Row Condos | Fountain View Condos

Fulton St Flats | Goodspeed Lofts | Gotham Lofts | Heritage Commons Townhomes

Hillmount Condos | Landmark Lofts | McKay Tower Condos

Monroe Center Condos | Monroe Terrace Condos | Park Row Condos | Peck Condos

Plaza Towers Condos | Renaissance Condos | River House Condos | Stoner Condos

Tannery Row Condos | Thirty Eight Condos | Union Square Condos | Waters Tower Condos

Grand Rapids Real Estate – House VS Condo

Grand Rapids Real Estate – House VS Condo

Grand Rapids Real EstateWe are in an interesting market. After the last few years, selling Grand Rapids Real Estate was not easy as house values had taken a huge hit and many home owners were under water or nearly so.  Buyer’s were tentative to purchase but interest rates were low and it was a good time to purchase a home or condo.

Late last year and right into this year, the real estate market has improved dramatically. Home prices are up slightly and interest rates are still down. This year we have seen an improvement across the board in pending sales and sold property over last year. Sellers are more inclined to hire a great agent (Yours Truly!) and put their home or condo on the market. We have seen many homes, priced correctly, selling within 30 to 60 days.

But what to buy? Is a home or a condo a better option? Which one suits you better? There are many factors to consider when choosing between houses and condos. Aside from location, buyers are able to choose between houses and condos as there are usually several options available in most neighborhoods in the Greater Grand Rapids area. Purchasing a home means you also own the land underneath while buying a condo includes only the living space within the unit and some of the common areas of the building or grounds. There are advantages and disadvantages to both however and the kind of lifestyle you want and the costs involved will help determine which is more suitable to your needs.

Pros of Buying a Condo

Grand Rapids Condos have been becoming more and more popular in recent years. Condos are typically located in urban areasGrand Rapids Condos however our downtown Grand Rapids Condos are in demand. The condos located downtown for example are mostly in walking distance to so many venues, restaurants, museums, outdoor concerts and so much more. Living in downtown Grand Rapids has shown to be a fantastic lifestyle. Many of the downtown condos will have parking, common areas, roof top decks, pools and fitness facilities located on site. Outside of downtown, you can find stand-alone units that feature all of the space of a single family home, but without the maintenance. For people with busy lives, empty-nesters or young professionals, condos are an attractive choice because of their location, low maintenance and convenience. It is also less expensive to purchase homeowners insurance for a condo vs a house.

Note: Some downtown condos are located in a Renaissance Zone and offer reduced income and property taxes until 2017.

Cons of Buying a Condo

The main negative to purchasing a condo is having to pay a monthly association fee. These are not rolled into the mortgage but impact your monthly budget. Association fees are used to pay for maintenance and the upkeep of the condo and vary from condo to condo. A portion of this monthly fee is used for building insurance. Association fees can be quite expensive in certain condos. For example, some condos downtown charge $0.30 per square foot. Another con is that homeowners share in the decision making process regarding any upgrades or repairs to the building. Each condo also has its own set of bylaws which contain the rules and restrictions that all homeowners must follow. Therefore some condos may not allow pets, or have breed restrictions or size restrictions for dogs. Condo owners can not deduct HOA (Home Owners Association) fees as an expense on their federal income taxes.

Pros of Buying a House

The main advantage to owing your own home is that you have complete control over the property and are able to make anyGrand Rapids Real Estate renovations or changes to the home without need the consent of a committee. Houses will usually have more living space and more storage space. Plus you can plan and care for your own landscaping. Houses will also have more privacy and won’t have restrictions on pets.

Cons to Buying a House

As a home owner, you are completely responsible for all maintenance and repairs inside and outside the home. These costs have a tendency to “nickle and dime” a person to death because you not only have to spend valuable down time on these repairs and maintenance items, but you have to either hire out the repairs or spend money on the equipment needed to do the repair. Plus you will need yard equipment, lawn mowers, snow throwers etc. Something else to consider are your utility bills will probably be higher with a house.

You can search all Grand Rapids Listings on this website and sign up for Email Alerts where you can receive daily notifications of any property that match your criteria, save your favorites and schedule showings online. If you are selling a home, let us provide a free Market Analysis and let you know what your closing costs will be. Email me with any questions or call or text Andrew at 616-570-1871. I am happy to answer any questions you might have.