$75,000
0.30 Acres
Land
Alicia Cloutier, Listing Office: EXP Realty Rochester
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 November 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
$640,000
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,100(+6.7%)
Key Takeaway
Homes in East Grand Rapids have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in East Grand Rapids was $640,000 in November 2024, up 6.7% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $210K | -26.3% |
| 2 Bedrooms | $390K | $405K | +3.8% |
| 3 Bedrooms | $445K | $510K | +14.6% |
| 4 Bedrooms | $730K | $730.8K | 0.1% |
| 5+ Bedrooms | $829.9K | $1.3M | +58.2% |
Summary: East Grand Rapids housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.3%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 58.2%.
Median Sold Price Compared To Nearby Cities
| Grand Rapids | $288K | $310K | +7.6% |
| Grand Rapids Charter Township | $289K | $310K | +7.3% |
| East Grand Rapids | $599.9K | $640K | +6.7% |
Housing Supply in East Grand Rapids, MI
How many homes are available in East Grand Rapids, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 55 | 51 | -7.3% |
Summary: The East Grand Rapids real estate market had 51 homes for sale in November 2024, a 7.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 16 | 19 | +18.8% |
| 4 Bedrooms | 29 | 22 | -24.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The East Grand Rapids housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 24.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 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. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in East Grand Rapids in November 2024, down by 15.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 62 Days | +158.3% |
Summary: Homes in East Grand Rapids had an average of 62 days on market in Nov 2024, up by 158.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were 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 November 2024, 11 homes were sold in East Grand Rapids; 82% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.