Grand Rapids Real Estate Market Report | April 2017

Here Is A Look at the Grand Rapid Real Estate Market Report | April 2017

Housing Stats: April 2017 continues to be Hot Sellers Market

The number of for sale listings was up 8.6% from the previous month. The number of sold listings decreased 10.6% month over month. The number of under contract listings was up 7.5% compared to the previous month. The Months of Inventory based on Closed Sales is 1.7. 

Grand Rapids Real Estate Market

Month after month the housing market continues to amaze me in how low the existing housing inventory is and the elevated prices. I hope these graphs and numbers will help you see where the Grand Rapids Real Estate Market has been and where it is going.

Stats for house sales in Grand Rapids MI

Average sold Price per square foot

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Picture of 3 houses

Graph showing the months of inventory in Grand Rapids

The average sold price per square footageGraph showing the absorption rate

The Average For Sale Price is Appreciating*

The Average For Sale Price in April was $320,000, down 0.3% from $321,000 last month.

The Average Sold Price is Appreciating*

The Average Sold Price in April was $212,000, up 4.4% from $203,000 last month.

The Median Sold Price is Neutral*

The Median Sold Price in April was $180,000, up 5.3% from $171,000 last month.

Looking For a Home In The Greater Grand Rapids Area?

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What Does This Data Mean?

Month after Month the sales in the Greater Grand Rapids Area remain STRONG! Inventory of existing properties remains extremely low. With low inventories of existing properties and new construction, this will continue to fuel higher than normal list prices and more times than not higher sales prices. You see many buyers in the market today have been beaten out on their offer even if they had written a full price offer with little to no contingencies. After that happens a couple of times many buyers get frustrated and will bid over asking price and the funny thing is they’re probably competing with the other buyers that lost out on properties that they had submitted offers on. There is no end in sight. As long as the economy keeps chugging along and unemployment doesn’t spike back to 8-10%, this recovery will continue. And prices will continue to rise.

The Last 5 Months I’ve Been Saying:

Its a Sellers Market! !  Its a Sellers Market!  Its a Sellers Market!  Its a Sellers Market!  Its a Sellers Market!

 

Home For Sale 1536 Carlton Ave NE Grand Rapids | Presented By Doug Hansen with Five Star Real Estate

Home For Sale 1536 Carlton Ave NE Grand Rapids

Open House Saturday May 6, 1-4 pm


Imagine stepping into your brand new…well almost new home. You need to get into this totally remodeled 3 bedroom and 2 full bathroom home and once inside You’ll call it home. The color palate POPS! It has light gray walls with white trim and beautiful hardwood floors. The living room w/fireplace and 3 bedrooms all have refinished natural wood floors. Both bathrooms (up and downstairs) are brand new. The kitchen looks amazing with new cabinets, flooring, counter tops and back splash. The lower level family room w/fireplace also is trimmed in white with light gray walls. There is a good sized office in the lower level. All the interior doors and the wood trim have been replaced and look fantastic. The main floor has all new windows and new exterior doors. Downstairs you have all new glass block windows. Want more? OK, the furnace and H2O heater are brand new, both garage doors are new, new vinyl siding and shingles on the garage. This house screams “Make this house your home”

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Not sure of the value of your home? Check it now

Picture of the front of 1536 Carlton for sale

1536 Carlton for sale

1536 Carlton for sale

1536 Carlton for sale

1536 Carlton for sale