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 April 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
$635,000
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in East Grand Rapids was $635,000 in April 2024, up 10% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | - | N/A |
2 Bedrooms | $363.7K | $405K | +11.3% |
3 Bedrooms | $430K | $467K | +8.6% |
4 Bedrooms | $675K | $817.9K | +21.2% |
5+ Bedrooms | $915K | $1.0M | +9.6% |
Summary: East 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 11.3%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
Grand Rapids | $262.2K | $300K | +14.4% |
East Grand Rapids | $577.5K | $635K | +10.0% |
Grand Rapids Charter Township | $279.9K | $300K | +7.2% |
Housing Supply in East Grand Rapids, MI
How many homes are available in East Grand Rapids, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 36 | +16.1% |
Summary: The East Grand Rapids real estate market had 36 homes for sale in April 2024, a 16.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 10 | 13 | +30.0% |
4 Bedrooms | 15 | 12 | -20.0% |
5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The East Grand Rapids housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in East Grand Rapids in April 2024, up by 30.0% month-over-month. Of the 13 sold homes, 31% were sold under asking, 15% were sold at asking, and 54% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
95 Days | 25 Days | -73.3% |
Summary: Homes in East Grand Rapids had an average of 25 days on market in Apr 2024, down by 73.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in East Grand Rapids; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.