East Grand Rapids Michigan Real Estate Market Report March – September 2016
by Terry and Bonnie Westbrook
East Grand Rapids Real Estate Report
March – September 2016
For the last 7 Months:
78 Active Listings – from $159,900 to $ 1,600,000
0 Pending Listings
185 Sold Homes – from $ 142,000 to $ 1,475,000
Average Sold Price – $ 399,116
Sold home prices are leveling off in the last 7 months
in East Grand Rapids, with the average home sale at around $400K,
where it has been all this year.
For sale home inventory numbers are down and sales are
gobbling up listings almost as fast as they appear.
In the lower price brackets, be prepared for a bidding war
with other buyers, regardless of condition, to be a successful
real estate owner in today’s East Grand Rapids home market.
However, the higher bracket homes may take a while to sell,
days on the market vary for the last seven months from 0 to 378 days.
The average home spent about 35 days on the market before going
pending.
Been thinking of selling your East Grand Rapids home?
2016 could be the time to call for a custom analysis of what your home
might be worth in today’s market. And valuable advice on what updates
current buyers are willing to pay for and which ones they aren’t.
Don’t over improve your home! Buyers will pay more for some
improvements, but not all.
If you have questions about buying/selling an East Grand Rapids home,
give Terry a call at 616-292-7263.
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East Grand Rapids Real Estate Market Reports
East Grand Rapids Michigan ~ America’s Hometown
Copyright 2016 All rights reserved.
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The authors of the this blog write about Grand Rapids Real Estate,
the Greater Grand Rapids MI area, and the current neighborhood markets in
Ada, Cascade, Forest Hills, Caledonia, Rockford and East Grand Rapids.
We believe: Grand Rapids is a Great Place to Live!
