Where Is Our Grand Rapids Market Headed This Spring?
It’s a great time to be a seller in our market. For buyers, things are a bit more challenging.
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What’s been happening in our market lately? Here’s what the numbers tell us.
In Kent County, there are currently 855 homes for sale and 975 homes under contract. In the entire association of Realtors, we have 1,224 homes for sale. At our current rate of sale, we have 1.19 months of inventory. At this time last year, we had a 1.62-month supply of inventory, so this year we’re in a much tighter market as far as supply and demand goes.
"With the rate that properties have been appreciating the last four years, just getting a home as a buyer constitutes as winning."
Spring has sprung and buyers are out there. If you’re thinking about selling your home, you want to get your home on the market right away. If you’re a buyer, things are a bit more challenging. You’ll likely face a lot of competition for homes and perhaps be involved in a multiple offer situation. Remember that an offer doesn’t always come down to price. There are other things you can do to it to make it stand out. Make sure you're working with a Realtor who knows how to WIN in multiple offer situations!
If you have any other questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.