East Grand Rapids Michigan Real Estate Market Report Sept. 2015 – Feb. 2016

East Grand Rapids Michigan Real Estate Market Report Sept. 2015 – Feb 2016

by Terry and Bonnie Westbrook
East Grand Rapids is a community of homes

priced from the mid $100,000’s to over $1,000,000, 

with the majority of homes selling from $300K to $400K.

 

East Grand Rapids is a very popular place to live in GR,

great public school system, its’ walkability, being close

to downtown GR Medical Mile, businesses, attractions and

shopping in Gaslight and Breton Villages.

 

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East Grand Rapids Real Estate Report

Sept. 2015 – Feb. 2016

 

For the last 6 Months: 

35 Active Listings – from $169,900 to $ 2,800,000

33 Pending Listings

102 Sold Homes – from $ 157,000 to $ 3,500,000

Average List Price – $ 642,217

Average Sold Price – $ 404,276

 

Sold home prices have risen sharply in the last 6 months

in East Grand Rapids, about 10% for the average sold price.

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 to pay more

than list price, regardless of condition,  to be a successful buyer

in today’s East Grand Rapids real estate.

 

However, the higher bracket homes may take a while to sell,

days on the market vary for the last six months from 0 to 539 days.

The average home spent about 64 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.

 

SEARCH EAST GRAND RAPIDS HOMES

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!

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