Grand Rapids Real Estate Market Report November 2022
Welcome to our Grand Rapids Real Estate Market Report. Here you will find the current market information for November 2022 as reported by the Grand Rapids Board of Realtors.
Market reports are a useful tool 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.
Days on Market November 2022
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 2022, as we enter the end of year, we are seeing a slowing market. Buyers are eagerly awaiting listings as inventory remains low. 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 100.2% which is down from October’s 101.3%. While there are still multiple offer scenarios many areas are returning to a more traditional scene with homes taking longer to sell.
Homes and condos are still in demand in certain areas and selling close to full price, primarily because of the lack of inventory. However we are seeing price reductions as the market has started to slow.
Sale to List Price November 2022
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 Still 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!
The average days on the market for November is 43 days, which is up from 35 days on the market in October, indicating a return to a more traditional market.
What is Your Home Worth?
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