Grand Rapids, MI 49505 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. The primary market indicator is the median sold price $329,000, which represents the most reliable recent transaction benchmark for valuation in 49505 and suggests market value is best read from closed sales rather than asking prices. contextual benchmark
2. There is a meaningful listing-to-sale price gap when comparing the median listing price $274,000 to the median sold price $329,000, which may indicate pricing friction between seller expectations and completed transactions and suggests careful comps selection is needed when pricing new listings. pricing friction
3. Liquidity is slow by velocity measures: the median days on market is 241 days, which points to slower transaction velocity even as the sampled active supply appears relatively constrained; this may indicate longer marketing periods are common and staged pricing or targeted renovations could improve sale prospects. slower sales velocity
4. Market fundamentals are mixed but not extreme: price momentum is up and rent momentum is up, while market temperature is neutral and interest rate pressure is moderate (current local 30-year rate ~6.375%), implying continued price appreciation potential but with financing headwinds that warrant conservative underwriting. positive price and rent trends

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.