Grand Rapids, MI Home Values & Market Trends
Real estate market trends reflect that there have been 4,581 transactions over the past year in Grand Rapids. The median value for residential home transactions that occurred over the previous year is $308,544.61. The number of current listings in Grand Rapids is 418, and the percentage of properties for sale in the city is 418.00%. Grand Rapids, MI currently has 44 properties in foreclosure, 6 bank owned properties, 38 properties headed for auction, and 418 properties for sale.
Grand Rapids, MI Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 49504 | $ 288,484 $ 199/sqft | 49505 | $ 252,518 $ 180/sqft |
| 49503 | $ 339,153 $ 206/sqft | 49546 | $ 491,250 $ 185/sqft |
| 49508 | $ 321,751 $ 145/sqft | 49512 | $ 377,141 $ 196/sqft |
| 49507 | $ 236,199 $ 155/sqft | 49534 | $ 337,575 $ 176/sqft |
| 49506 | $ 408,740 $ 217/sqft | 49544 | $ 277,995 $ 165/sqft |
| 49525 | $ 354,551 $ 185/sqft | 49560 | $ -- $ -- |
| 49548 | $ 215,525 $ 174/sqft |
Housing Market Summary for Grand Rapids, MI
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $299K | $279.8K | -6.42% |
| Median Sold Price | $273.9K | $279.8K | 2.14% |
| Homes For Sale | 460 | 288 | -37.39% |
| Homes Sold | 3,142 | 2,122 | -32.46% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Grand Rapids, MI
Browse Homes in Grand Rapids, MI
Grand Rapids home values range from $23,492 to $15,083,224. The median estimated value of a home in Grand Rapids is $308,544.61. The median list price of a home is 319,000, and the total count of properties in the city is 90,237.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Grand Rapids, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 13 zips within Grand Rapids, MI; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Grand Rapids, MI ranges from the highest value of $314,836 in 49512 to the lowest value of $170,892 in 49507. Bank owned homes and properties account for 0.01% of properties in Grand Rapids, MI. There are 13 zips within Grand Rapids, MI; 49525 containing 3 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions49504 has 12 auction properties, the highest number of properties going to auction in a single zip in the state of Grand Rapids, MI. Auction homes and other auction properties account for 0.04% of all properties in Grand Rapids, MI. There are 13 zips within Grand Rapids, MI; of those zips, the median estimated home value for homes going to auction ranges from $337,000 in 49546 to the lowest value of $132,756 in 49546.
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More Real Estate Resources for Grand Rapids, MI
Guide for Grand Rapids, MI
Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.
The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.
Why Buying a Foreclosure is a Smart Move
Information on foreclosure financing, refinancing, and foreclosure mortgages.
