Welcome to the Grand Rapids Downtown Condos Market Report. Here you will find the current market information for August 2016, 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, simply drop me an email with your area(s) of interest and I will set you up. We cover the entire Southwest Michigan area including the Lakeshore.
In this latest report for August 2016, we are continuing to experience a very active market. We are continuing with a high Sales to Listing price ratio of 96.7%, which is slightly down from July’s 98.3%. This indicates that Grand Rapids downtown condos on average are very much in demand and selling close to full price. The median price of active listings is $259,450 while the median price of sold property is $194,500.
It is is interesting to note that the median list price and median sold price have been steady throughout the summer months.
There are currently 47 active listings (15 new listings in August) with 11 properties selling. If you are looking for a home or condo, let us help you get notified right away of any new listings with our Listing Alert System.
The average days on the market for August is 78 days, which is slightly up from 61 days on the market in July.
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 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.
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 and 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.