Is Grand Rapids Charter Township, 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, Grand Rapids Charter Township has remained a Seller's Market.
Housing Prices in Grand Rapids Charter Township, MI
How much do homes in Grand Rapids Charter Township, MI cost?
Median Sold Price
$299,787
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Grand Rapids Charter Township was $299,787 in March 2024, up 7.1% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $206K | +8.4% |
2 Bedrooms | $210K | $226.5K | +7.9% |
3 Bedrooms | $269.8K | $292.2K | +8.3% |
4 Bedrooms | $338.9K | $350.1K | +3.3% |
5+ Bedrooms | $501.5K | $520K | +3.7% |
Summary: Grand Rapids Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 3.7%.
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% |
Plainfield Charter Township | $344K | $360.1K | +4.7% |
Ada Township | $562.5K | $586K | +4.2% |
Housing Supply in Grand Rapids Charter Township, MI
How many homes are available in Grand Rapids Charter Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
640 | 701 | +9.5% |
Summary: The Grand Rapids Charter Township real estate market had 701 homes for sale in March 2024, a 9.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 14 | +7.7% |
2 Bedrooms | 132 | 139 | +5.3% |
3 Bedrooms | 287 | 315 | +9.8% |
4 Bedrooms | 161 | 181 | +12.4% |
5+ Bedrooms | 47 | 52 | +10.6% |
Summary: The Grand Rapids Charter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 10.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
223 | 226 | +1.3% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
130 Homes Were Sold
Over Asking
Summary: A total of 226 homes were sold or pending in Grand Rapids Charter Township in March 2024, up by 1.3% month-over-month. Of the 226 sold homes, 25% were sold under asking, 18% were sold at asking, and 58% were sold over asking.
Days on Market for Grand Rapids Charter Township, MI
How long does it take to sell a home in Grand Rapids Charter Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
17 Days | 19 Days | +11.8% |
Summary: Homes in Grand Rapids Charter Township had an average of 19 days on market in Mar 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
181 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 226 homes were sold in Grand Rapids Charter Township; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.