$8,252 Closing Credit*
$694,900
2,854 SqFt
4 Beds
•2 Full Baths
Steven C Morse, Listing Office: Morse Realty LLC
Is East Grand Rapids, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, East Grand Rapids has remained a Seller's Market.
Key Takeaway
East Grand Rapids is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Grand Rapids, MI
How much do homes in East Grand Rapids, MI cost?
Median Sold Price
$637,500
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$12,500(+2.0%)
Key Takeaway
Homes in East Grand Rapids have sold for 2% more than they did a year ago.
Summary: The median home sold price in East Grand Rapids was $637,500 in December 2024, up 2% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $210K | N/A |
| 2 Bedrooms | $382.5K | $405K | +5.9% |
| 3 Bedrooms | $445.5K | $520.7K | +16.9% |
| 4 Bedrooms | $730K | $760K | +4.1% |
| 5+ Bedrooms | $829.9K | $1.5M | +80.7% |
Summary: East Grand Rapids housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 80.7%.
Median Sold Price Compared To Nearby Cities
| Grand Rapids | $290.1K | $311.5K | +7.4% |
| Grand Rapids Charter Township | $291.2K | $312.2K | +7.2% |
| East Grand Rapids | $625K | $637.5K | +2.0% |
Housing Supply in East Grand Rapids, MI
How many homes are available in East Grand Rapids, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 51 | 37 | -27.5% |
Summary: The East Grand Rapids real estate market had 37 homes for sale in December 2024, a 27.5% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 22 | 14 | -36.4% |
| 4 Bedrooms | 19 | 15 | -21.1% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The East Grand Rapids housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 36.4%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Grand Rapids, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in East Grand Rapids in December 2024, up by 8.3% month-over-month. Of the 13 sold homes, 69% were sold under asking, 8% were sold at asking, and 23% were sold over asking.
Days on Market for East Grand Rapids, MI
How long does it take to sell a home in East Grand Rapids, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 43 Days | 27 Days | -36.1% |
Summary: Homes in East Grand Rapids had an average of 27 days on market in Dec 2024, down by 36.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Grand Rapids are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 13 homes were sold in East Grand Rapids; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.