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 March 2023
Since last year, East Grand Rapids has remained a Seller's Market.
Housing Prices in East Grand Rapids, MI
How much do homes in East Grand Rapids, MI cost?
Median Sold Price
$644,900
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in East Grand Rapids was $644,900 in March 2024, up 14.1% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | - | N/A |
2 Bedrooms | $363.7K | $405K | +11.3% |
3 Bedrooms | $430K | $466K | +8.4% |
4 Bedrooms | $671K | $816K | +21.6% |
5+ Bedrooms | $915K | $1.1M | +21.6% |
Summary: East Grand Rapids housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 21.6%.
Median Sold Price Compared To Nearby Cities
Grand Rapids | $260.2K | $299.2K | +15.0% |
East Grand Rapids | $565K | $644.9K | +14.1% |
Grand Rapids Charter Township | $279.9K | $299.7K | +7.1% |
Housing Supply in East Grand Rapids, MI
How many homes are available in East Grand Rapids, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 28 | -3.4% |
Summary: The East Grand Rapids real estate market had 28 homes for sale in March 2024, a 3.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 2 | -60.0% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 12 | 13 | +8.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The East Grand Rapids housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 9 | -30.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in East Grand Rapids in March 2024, down by 30.8% month-over-month. Of the 9 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
10 Days | 18 Days | +76.1% |
Summary: Homes in East Grand Rapids had an average of 18 days on market in Mar 2024, up by 76.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in East Grand Rapids; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.