Grand Rapids, MI 49503 Real Estate Market Report

ZIP Code: 49503
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The neighborhood's representative recent sale shows a median sold price of $259,900, establishing transaction-driven market value and indicating that actual purchaser activity is centered around that level; the market is currently described as hot which supports continued seller-side pricing strength.

2. Listing dynamics show a higher median listing price of $267,500 relative to the median sold price, which may indicate pricing friction where seller expectations sit above executed transactions and could slow individual deal closures.

3. Liquidity signals are mixed: the median days on market is 251, which suggests slower sales velocity despite a hot market temperature, so expect longer negotiation cycles and more time to contract on listings that are priced above recent solds.

4. Fundamentals: median price per square foot is $182 and median market rent is $1,450, while rent and price trends are both reported as up; with interest rate pressure noted as moderate, investors should weigh modest financing headwinds against continuing local rent and price appreciation.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Grand Rapids, MI 49503 Real Estate Market Report

ZIP Code: 49503
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The primary market indicator, median sold price: 282,450, shows recent transaction-level value for the neighborhood and, combined with a up price year-over-year trend, supports continued price strength in May 2026.

2. Despite seller expectations reflected in median listing price: 479,000, the gap between listing and sold values suggests pricing friction and the need for sellers to align expectations with recent realizations; this appears alongside a relatively constrained active supply that is keeping upward pressure on realized prices.

3. Liquidity appears slow on the execution side given median days on market: 344, which indicates longer listing durations and a slower sales velocity even as the market temperature is reported as hot; sellers may face longer marketing periods before achieving contract.

4. Market fundamentals show support for rental demand and pricing: median price per square foot: 305 and median market rent: 1,450, while interest rate pressure is moderate, suggesting financing conditions are neither broadly stimulative nor highly restrictive for buyers and investors.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.