Is Grand Rapids, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, WI
How much do homes in Grand Rapids, WI cost?
Median Sold Price
$272,450
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grand Rapids have sold for 9% more than they did a year ago.
Summary: The median home sold price in Grand Rapids was $272,450 in May 2024, up 9% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $86K | $133K | +54.7% |
| 3 Bedrooms | $242.5K | $255K | +5.2% |
| 4 Bedrooms | $250K | $326.7K | +30.7% |
| 5+ Bedrooms | $463.8K | $447.5K | -3.5% |
Summary: Grand Rapids housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.7%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Grand Rapids | $250K | $272.4K | +9.0% |
| Wisconsin Rapids | $158K | $170.8K | +8.1% |
Housing Supply in Grand Rapids, WI
How many homes are available in Grand Rapids, WI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 35 | -5.4% |
Summary: The Grand Rapids real estate market had 35 homes for sale in May 2024, a 5.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Grand Rapids housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were 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. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Grand Rapids in May 2024, the same as the previous month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
