Welcome to Grand Rapids Real Estate 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, drop me an email 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 seeing a high Sales to Listing price ratio of 99.6%, which is slightly down from July’s 100.3%. This shows that Grand Rapids Real Estate on average are very much in demand and selling close to full price. The median price of active listings is $174,900 while the median price of sold property is $148,500.
It is is interesting to note that the median list price has been slowly decreasing over the summer months while the median sales price has been holding steady or even slightly increasing.
There are currently 618 active listings (298 new listings in August) with 402 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 August is 35 days, which is slightly down from 38 days on the market in June.
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 or 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.