Grand Rapids, MI Home Values & Market Trends

Real estate market trends reflect that there have been 4,637 transactions over the past year in Grand Rapids. The median value for residential home transactions that occurred over the previous year is $289,818.8. The number of current listings in Grand Rapids is 357, and the percentage of properties for sale in the city is 357.00%. Grand Rapids, MI currently has 50 properties in foreclosure, 7 bank owned properties, 43 properties headed for auction, and 357 properties for sale.

Grand Rapids, MI Real Estate Market Overview

ZipMedian Est. ValueZipMedian Est. Value
49504

$ 280,824

$ 178/sqft

49546

$ 528,683

$ 188/sqft

49503

$ 306,981

$ 196/sqft

49508

$ 299,463

$ 149/sqft

49506

$ 397,132

$ 210/sqft

49534

$ 311,007

$ 153/sqft

49507

$ 209,068

$ 148/sqft

49512

$ 313,250

$ 165/sqft

49505

$ 255,943

$ 163/sqft

49544

$ 237,375

$ 150/sqft

49525

$ 357,561

$ 178/sqft

49560

$ --

$ --

49548

$ 220,440

$ 170/sqft

Housing Market Summary for Grand Rapids, MI

Mar 2023February 2024Change
Median Listing Price$289.9K$288.7K-0.40%
Median Sold Price$273K$288.7K5.76%
Homes For Sale412277-32.77%
Homes Sold3,5423,387-4.38%
Price
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Homes For Sale
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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%.

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Browse Homes in Grand Rapids, MI

Grand Rapids home values range from $23,637 to $14,007,850. The median estimated value of a home in Grand Rapids is $289,818.8. The median list price of a home is 323,700, and the total count of properties in the city is 90,229.

Foreclosure
There are 13 zips within Grand Rapids, MI; within these zips, the median estimated home value for homes in foreclosure ranges from $436,086 in 49507 to the lowest value of $103,612 in 49507. Foreclosure homes account for 0.00% of properties in Grand Rapids, MI with 49507 containing 13 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-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 Owned
    The median estimated home value of bank owned homes (REO properties) in Grand Rapids, MI ranges from the highest value of $315,611 in 49512 to the lowest value of $163,437 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 4 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    49507 has 11 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 0.05% 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 $343,499 in 49546 to the lowest value of $103,612 in 49546.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.40% of residential properties in Grand Rapids, MI with 49504 containing 66 homes for sale, the highest number of listed properties in a single zip. There are 13 zips within Grand Rapids, MI; homes for sale in those zips, have a range of median values from $549,900 in 49512 to the lowest value of $52,310 in 49548.
    Sold Homes
    The median value for recently sold homes ranges from $682,895 in 49544 to the lowest price of $23,962 in 49544. There are 13 zips within Grand Rapids, MI. 49504 has 452 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 3.60% of properties in Grand Rapids, MI.

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      Guide for Grand Rapids, MI

      RealtyTrac Market Report
      Michigan
      2023 Michigan Real Estate Market: Analysis Reveals Booming Property Values and Volatile Sold Prices
      Michigan
      Detroit Real Estate Market Holds Steady: 2023 in Review
      Investment Guides
      Why Buying a Foreclosure is a Smart Move
      Home Buying Financing
      How To Get House Mortgage With Low Credit Score
      See More Articles
      RealtyTrac Market Report
      2023 Michigan Real Estate Market: Analysis Reveals Booming Property Values and Volatile Sold Prices
      Michigan|posted 8 December 2023

      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.

      Detroit Real Estate Market Holds Steady: 2023 in Review
      Michigan|posted 25 January 2024

      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
      Investment Guides|posted 15 November 2017

      Why Buying a Foreclosure is a Smart Move

      How To Get House Mortgage With Low Credit Score
      Home Buying Financing|posted 22 March 2024

      Learn how to secure a house mortgage even with a low credit score.