Where Is the Grand Rapids Market Headed?

Grand Rapids Real Estate Podcast with Mark Brace

Today I have a quick market update for Grand Rapids. The market is doing some interesting things when you compare it to last year's market.

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I wanted to drop by with a quick Grand Rapids market update to give you an understanding of how this market relates to last year's market and what we could see moving forward.

Currently, we've got a little more than 2,000 homes for sale, which is actually down from last year at this time when we had 3,327 homes for sale. Year to date, we've sold almost exactly as many homes this year as last year. We front-loaded a lot of sales in the spring, however, when the market was crazy and inventory dropped to nearly 1,500 homes available.

In four of the last five months, our sales have been down compared to last year. I'm not sure if this is an indicator of anything, but going into the winter, we have fewer homes for sale than last year. As a seller, this means it could be a really good time to get into the marketplace. As a buyer, that stretch between Thanksgiving and Christmas is the best time to potentially buy a home as well. Sellers are serious and you'll have less competition, leaving you the opportunity to get a great deal.

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Don't hesitate as a buyer or seller at this time!

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Don't be hesitant as either a buyer or seller at this point! If you'd like any more details about what's going on in your area or you're thinking of buying or selling a home, give me a call or send me an email today. I'd be happy to help!