Grand Rapids Spring Market Update

Grand Rapids Real Estate Podcast with Mark Brace

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.

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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!