Grand Rapids, MI 49504 Real Estate Market Report

ZIP Code: 49504
Report Date: May 2026
Market Temperature: NEUTRAL
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 Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids, MI 49504 are averaging 6.34%, reflecting a stable market environment for property owners in this area compared to earlier 2026 trends.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of recent market value is the median sold price 274,900, which signals realized transaction levels above the typical asking level and suggests recent seller strength; up price momentum is consistent with this observation.

2. There is a notable pricing gap where the median listing price 265,750 sits below the median sold price, which may indicate sellers are achieving sales above initial asking levels and reflects strong negotiated outcomes rather than discounting.

3. Market velocity appears slow based on a long median days on market of 226, which suggests slower sales turnover and extended time to contract despite higher realized prices; this implies pricing friction and that buyers may be more deliberate.

4. Market context shows price year-over-year trend is up and market temperature is neutral, while interest rate pressure is moderate and rent year-over-year trend is up; together these factors point to balanced but firm pricing where relatively constrained active supply may keep upward pressure on sold prices despite measured transaction volume.

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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 49504 Real Estate Market Report

ZIP Code: 49504
Report Date: May 2026
Market Temperature: NEUTRAL
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 Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids, MI 49504 are averaging 6.34%, reflecting a stable market environment for property owners in this area compared to earlier 2026 trends.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of recent market value is the median sold price of 309,900, and the market shows a notable divergence between transaction prices and asking prices since the median listing price is 269,900, which suggests sellers are achieving higher realized prices than current asking levels and may indicate strong realized pricing.

2. Despite the higher median sold price, liquidity appears muted: the median days on market is 306, which points to slower sales velocity and suggests that transactions are occurring but over extended marketing periods rather than rapid turnover.

3. Price momentum is positive: the local price year-over-year trend is up while the market temperature is neutral, implying the market is appreciating but remains balanced overall; combine this with moderate interest rate pressure (current average 30‑year rates ~ 6.34%) when assessing buyer affordability and timing.

4. Valuation context for investors and owner-occupiers: the median price per square foot is 279 and the median market rent is 1,595, with rent year-over-year trend up — these metrics provide a snapshot of price and rental direction without implying specific returns, and should be used alongside observed sales pace and the relatively constrained active supply to set realistic pricing and holding strategies.

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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.