Where Is the Grand Rapids Market Headed in 2019?
In 2019, there are a few things you should know about as we head into the busy season for real estate.
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.