Your September Market Updates for Grand Rapids

The latest numbers are in for the Grand Rapids real estate market. What can you expect as a buyer or seller this September?

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As we begin September, let’s take a look at what’s happening in the Grand Rapids and Michigan real estate markets. 

Right now, there are 2,007 homes for sale. That number is a little higher than normal. There are 1,730 pending home sales. In other words, there are almost the same number of homes for sale as there are under contract. 

So far this year, 8,476 homes have sold at a rate of about 1,060 homes a month. That means our market has a total of 1.89 months of inventory. 

If we look specifically at Kent County, there are only 1,500 properties for sale and 1,355 pending sales. So far this year, 6,700 homes have sold in Kent County at a rate of 838 home sales a month, leaving Kent County with 1.81 months of inventory. 

What do all of these numbers mean for you? 

Inventory has gone up slightly as we head into fall. With school starting, people are too busy to concentrate on real estate as much as they did this summer. Since inventory is slightly higher, buyers have a better selection now than they’ve had all year. 

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Slightly higher inventory means buyers have more options to choose from.

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If you’re thinking of buying a home, now may be the time to seize the market. 

If you are thinking of selling your home, there is still a lot of action in our market, which means you have a great opportunity to sell. Keep in mind that inventory has increased a little, so there may not be as many multiple offer situations as there were this summer. 

If you have any other questions about buying or selling a home in our current market, just give me a call or send me an email. I would be happy to help you!

Grand Rapids Spring Market Update

Spring has officially sprung in the world of real estate and I wanted to stop by with an update on the Grand Rapids market. Low inventory and high demand make now a great time to be a home seller.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

Spring's officially here, so I wanted to take a minute to update you on the important factors currently trending in our market. 

As of the end of March in Kent County, we have 939 properties for sale, which is extremely low. In our market in the last 12 months, 10,212 properties sold, giving us a rate of roughly 851 homes sales per month. That means we have about 1.1 months of inventory, which is extremely low.

The market currently has 1,240 pending sales as well. When you step back and take a big-picture look at our market, it's an absolutely amazing time to sell your house since buyer demand is high and inventory is low, pushing prices up. 

High demand and low inventory make now a phenomenal time to sell a house.

On the other hand, if you're buying a home, you want to hurry and try to buy one before interest rates keep going up. Prices are going up as well, so the longer you wait, the more difficult it will be to find a home and the more it will cost you.

If you'd like any more detailed information about your specific area or you're ready to buy or sell a home here in the Grand Rapids market, give me a call or send me an email soon. I'd love to help you out!

Where Is the Grand Rapids Market Headed?

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.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

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!

Is Grand Rapids Approaching Another Housing Bubble?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

Today, I just wanted to let you know that according to the National Association of Realtors, there is no housing bubble in sight.

It may seem like prices are inflated, but according to Realtor magazine, home prices and home sales are not nearly what they were ten years ago. Mortgage amounts are going down as well, so borrowers are much more conservative.

Additionally, mortgage lending is very tight compared to what it was ten years ago when everyone could get a mortgage, so the financial market is in a much different place than it was during the previous housing crisis.

To read the full article, check out this link: http://realtormag.realtor.org/news-and-commentary/economy/article/2015/07/no-housing-bubble-in-sight.

If you have any questions, give me a call or send me an email. I'd be happy to help you!

Where Are Grand Rapids Home Values Heading?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

It's time for yet another Grand Rapids market update! Today, I want to share the latest trends in our area and what they mean for you.

Recently we've seen some of the buyer anxiety tail off in the last couple months, as some buyers left the area for vacation or stopped looking, which resulted in a more open market. However, some market segments are very hot right now; in fact, I recently had a listing that received 12 offers.

Despite certain trends in favor of buyers, we're still in a seller's market. If you've been thinking about selling, once you prepare your home for the market, you shouldn't have trouble selling quickly and for top dollar.

If you have questions about the current market or where it's heading, don't hesitate to reach out to me. I would love to help you in any way possible!

Is Now the Time to Get Top Dollar for Your Grand Rapids Home?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (616) 447-7025 for a FREE home buying or selling consultation

Although summer hasn't officially hit Grand Rapids, the market is already pretty hot! Inventory is incredibly low, and the buyers are out in full. In fact, in some areas, we have less than a month's worth of available inventory! This is causing prices to rise, which has greatly benefited the few sellers in the market right now!

If you have considered selling your home, now is the time to list! Your home may be worth a whole lot more than you think, as there is a high demand for great homes in this market! If you are curious about the value of your home, or if you would like to discuss your options, give me a call or shoot me a quick email. We would love to help you make the most of this fantastic market!