Grand Rapids, MI 49505 Real Estate Market Report

ZIP Code: 49505
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids MI 49505 are approximately 6.34%, reflecting the broader 2026 market trend for typical loans in this area.

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. median sold price 275,000 is the primary market indicator and points to realized transaction values in the ZIP; with the market described as hot, recent sales suggest continued price support rather than weakening.

2. Pricing context shows a gap between the median listing price 269,500 and the median sold price 275,000, which may indicate pricing friction where seller expectations and closed transactions are close but not identical.

3. The median days on market 208 is lengthy and suggests slower sales velocity despite a hot market temperature; this appears to reflect moderate liquidity pressure rather than rapid turnover, so sellers may need patience or targeted concessions.

4. Market fundamentals: median price per square foot 229 and median market rent 1,550 support steady investment demand, but elevated borrowing costs (current 30-year fixed mortgage rates approximately 6.34%) and elevated interest rate pressure may temper buyer activity even as price year-over-year trend remains up.

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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 49505 Real Estate Market Report

ZIP Code: 49505
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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids MI 49505 are approximately 6.34%, reflecting the broader 2026 market trend for typical loans in this area.

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 neighborhood's market value is best represented by the median sold price of $369,950, which indicates recent transaction levels are clustered near that figure and should be used as the primary pricing benchmark for offers and appraisals. use sold comps

2. There is a modest gap between the median listing price of $374,900 and the median sold price, which may indicate seller pricing expectations are slightly above realized transaction prices and suggests pricing friction that negotiators can exploit. pricing gap

3. Liquidity appears constrained with relatively low active supply in the analyzed sample and sustained sales activity, while the median days on market of 261 signals slower sales velocity that may lengthen negotiation timelines—consider offering inspection contingencies or tailored seller concessions to improve deal certainty. slower sales velocity

4. Market-level signals are supportive but mixed: the market is classified as hot, price trends are up, and rent trends are up, which supports continued appreciation upside, but interest rate pressure is elevated (current local 30-year rate approx. 6.34%) and may dampen some buyer affordability; prioritize financing-ready buyers and price-competitive listings. demand-driven

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Notable Properties

The following 7 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.