Is Grand Rapids, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Grand Rapids has remained a Seller's Market.
Key Takeaway
Grand Rapids is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Rapids, OH
How much do homes in Grand Rapids, OH cost?
Median Sold Price
$225,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Grand Rapids have sold for 45.2% more than they did a year ago.
Summary: The median home sold price in Grand Rapids was $225,000 in April 2024, up 45.2% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $95K | N/A |
| 2 Bedrooms | $130K | $193K | +48.5% |
| 3 Bedrooms | $156K | $217.5K | +39.4% |
| 4 Bedrooms | $252.5K | $321.5K | +27.3% |
| 5+ Bedrooms | - | $325K | N/A |
Summary: Grand Rapids housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 48.5%, 3 bedroom homes increased by 39.4%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Grand Rapids | $155K | $225K | +45.2% |
| Grand Rapids Township | $157K | $224.5K | +43.0% |
Housing Supply in Grand Rapids, OH
How many homes are available in Grand Rapids, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Summary: The Grand Rapids real estate market had 7 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Grand Rapids housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Rapids, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Grand Rapids in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Grand Rapids, OH
How long does it take to sell a home in Grand Rapids, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 112 Days | 49 Days | -55.7% |
Summary: Homes in Grand Rapids had an average of 49 days on market in Apr 2024, down by 55.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Grand Rapids has remained consistent over time.
Summary: During April 2024, 4 homes were sold in Grand Rapids; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright 2024 NORIS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of the NORIS MLS. Real estate listings held by brokerage firms other than this brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. This broker participates in Northwest Ohio Real Estate Information Systems, Inc. Broker Reciprocity program, allowing us to display other broker’s listings on our site.