$5,047 Closing Credit*
$425,000
1,149 SqFt
2 Beds
•1 Full Bath, 1 Partial
Brenda H Pratt, Listing Office: Keller Williams GR North
Is East Grand Rapids, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, East Grand Rapids has remained a Seller's Market.
Key Takeaway
East Grand Rapids is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Grand Rapids, MI
How much do homes in East Grand Rapids, MI cost?
Median Sold Price
$635,000
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$5,000(+0.8%)
Key Takeaway
Homes in East Grand Rapids have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in East Grand Rapids was $635,000 in September 2024, up 0.8% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $210K | -26.3% |
| 2 Bedrooms | $390K | $390K | 0.0% |
| 3 Bedrooms | $439.9K | $505K | +14.8% |
| 4 Bedrooms | $675K | $825K | +22.2% |
| 5+ Bedrooms | $899K | $1.2M | +33.5% |
Summary: East Grand Rapids housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 33.5%.
Median Sold Price Compared To Nearby Cities
| Grand Rapids Charter Township | $281.2K | $307.7K | +9.4% |
| Grand Rapids | $280.2K | $306.4K | +9.3% |
| East Grand Rapids | $630K | $635K | +0.8% |
Housing Supply in East Grand Rapids, MI
How many homes are available in East Grand Rapids, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 54 | 58 | +7.4% |
Summary: The East Grand Rapids real estate market had 58 homes for sale in September 2024, a 7.4% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 22 | 28 | +27.3% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The East Grand Rapids housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Grand Rapids, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in East Grand Rapids in September 2024, down by 11.8% month-over-month. Of the 15 sold homes, 73% were sold under asking, 7% were sold at asking, and 20% were sold over asking.
Days on Market for East Grand Rapids, MI
How long does it take to sell a home in East Grand Rapids, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 51 Days | 36 Days | -29.9% |
Summary: Homes in East Grand Rapids had an average of 36 days on market in Sep 2024, down by 29.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Grand Rapids are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 15 homes were sold in East Grand Rapids; 47% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
