Is Grand Rapids, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Grand Rapids was a Buyer'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, WI
How much do homes in Grand Rapids, WI cost?
Median Sold Price
$265,000
$125/sqft
Based on all homes sold in March 2024.
The Median Sold Price hasn't changed since February 2024.
Key Takeaway
The sold price of homes in Grand Rapids has remained the same since last month.
Summary: The median home sold price in Grand Rapids was $265,000 in March 2024, the same as last month, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $150.9K | $115K | -23.8% |
| 3 Bedrooms | $282K | $272.5K | -3.4% |
| 4 Bedrooms | - | $265K | N/A |
| 5+ Bedrooms | - | $474.9K | N/A |
Summary: Grand Rapids housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.8%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Port Edwards | $174K | $411K | +136.2% |
| Saratoga | $206.4K | $207.5K | 0.5% |
| Grand Rapids | $265K | $265K | 0.0% |
Housing Supply in Grand Rapids, WI
How many homes are available in Grand Rapids, WI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Summary: The Grand Rapids real estate market had 28 homes for sale in March 2024, a 21.7% increase 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 | 4 | -20.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 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 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were 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 may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Grand Rapids in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Grand Rapids, WI
We’re sorry, we don't have information for this market at the moment
