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Where Is the Grand Rapids Market Headed in 2019?

Mark Brace

#1 Real Estate Team in Grand Rapids (source: Wall Street Journal -Realtrends 2016)! Born & raised in Forest Hills, my passion for Grand Rapids sta...

#1 Real Estate Team in Grand Rapids (source: Wall Street Journal -Realtrends 2016)! Born & raised in Forest Hills, my passion for Grand Rapids sta...

Feb 8 2 minutes read

In 2019, there are a few things you should know about as we head into the busy season for real estate.

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As we begin the new real estate year, I’m excited to bring you a fresh market update as we head into the busy season of 2019.

In the last year, our home sales dropped by about 3%. However, the average value of the properties we sold was up by 5%. These changes are par for the course over the last couple of years.

"Homes for sale are hard to come by around here."

We now have about 14% more homes for sale than we did last January. Homes for sale in Grand Rapids are still pretty sparse, however. We have 2.2 months’ worth of inventory, which is a whole six-day increase in the last year, at 1.89 months.

Everything is pretty much shaping up for a great 2019. We’ve built up a little bit of inventory, which should signal to sellers that now is still a great time to sell. Keep in mind that the market is changing a little bit. 

If you have any questions for us about the Grand Rapids market or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

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