Is Grand Rapids Charter Township, MI 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 Charter Township has remained a Seller's Market.
Housing Prices in Grand Rapids Charter Township, MI
How much do homes in Grand Rapids Charter Township, MI cost?
Median Sold Price
$300,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Grand Rapids Charter Township was $300,000 in May 2024, up 8.8% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $193.5K | $211K | +9.0% |
2 Bedrooms | $211.9K | $230.8K | +8.9% |
3 Bedrooms | $269.1K | $295K | +9.6% |
4 Bedrooms | $334.8K | $358.6K | +7.1% |
5+ Bedrooms | $466.8K | $525K | +12.5% |
Summary: Grand Rapids Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
Grand Rapids | $275.1K | $300K | +9.0% |
Grand Rapids Charter Township | $275.7K | $300K | +8.8% |
East Grand Rapids | $581.6K | $626.7K | +7.7% |
Plainfield Charter Township | $350K | $363.5K | +3.9% |
Ada Township | $575K | $595K | +3.5% |
Housing Supply in Grand Rapids Charter Township, MI
How many homes are available in Grand Rapids Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
889 | 997 | +12.1% |
Summary: The Grand Rapids Charter Township real estate market had 997 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 22 | 25 | +13.6% |
2 Bedrooms | 174 | 194 | +11.5% |
3 Bedrooms | 397 | 442 | +11.3% |
4 Bedrooms | 217 | 256 | +18.0% |
5+ Bedrooms | 79 | 80 | +1.3% |
Summary: The Grand Rapids Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 1.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
309 | 341 | +10.4% |
Asking Price vs. Sold Price
82 Homes Were Sold
Under Asking
55 Homes Were Sold
At Asking
204 Homes Were Sold
Over Asking
Summary: A total of 341 homes were sold or pending in Grand Rapids Charter Township in May 2024, up by 10.4% month-over-month. Of the 341 sold homes, 24% were sold under asking, 16% were sold at asking, and 60% were sold over asking.
Days on Market for Grand Rapids Charter Township, MI
How long does it take to sell a home in Grand Rapids Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 12 Days | -33.8% |
Summary: Homes in Grand Rapids Charter Township had an average of 12 days on market in May 2024, down by 33.8% compared to last year.
Breakdown of Home Sale Times
305 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 341 homes were sold in Grand Rapids Charter Township; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.