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 April 2023
Since last year, Grand Rapids Charter Township has remained a Seller's Market.
Key Takeaway
Grand Rapids Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Rapids Charter Township, MI
How much do homes in Grand Rapids Charter Township, MI cost?
Median Sold Price
$300,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Grand Rapids Charter Township have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Grand Rapids Charter Township was $300,000 in April 2024, up 7.2% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.5K | $207K | +9.2% |
| 2 Bedrooms | $215K | $230K | +7.0% |
| 3 Bedrooms | $270.7K | $294.7K | +8.9% |
| 4 Bedrooms | $335K | $356.2K | +6.3% |
| 5+ Bedrooms | $482.5K | $527.4K | +9.3% |
Summary: Grand Rapids Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 9.3%.
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% |
| Ada Township | $562.2K | $600K | +6.7% |
| Plainfield Charter Township | $345K | $360.1K | +4.4% |
Housing Supply in Grand Rapids Charter Township, MI
How many homes are available in Grand Rapids Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 727 | 851 | +17.1% |
Summary: The Grand Rapids Charter Township real estate market had 851 homes for sale in April 2024, a 17.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 21 | +40.0% |
| 2 Bedrooms | 136 | 168 | +23.5% |
| 3 Bedrooms | 331 | 376 | +13.6% |
| 4 Bedrooms | 188 | 209 | +11.2% |
| 5+ Bedrooms | 57 | 77 | +35.1% |
Summary: The Grand Rapids Charter Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 35.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 259 | 279 | +7.7% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
174 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Rapids Charter Township, you could pay more than the asking price. 62.4% of homes here sold above asking price last month.
Summary: A total of 279 homes were sold or pending in Grand Rapids Charter Township in April 2024, up by 7.7% month-over-month. Of the 279 sold homes, 22% were sold under asking, 16% were sold at asking, and 62% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 16 Days | -41.8% |
Summary: Homes in Grand Rapids Charter Township had an average of 16 days on market in Apr 2024, down by 41.8% compared to last year.
Breakdown of Home Sale Times
241 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grand Rapids Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 279 homes were sold in Grand Rapids Charter Township; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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