Grand Rapids, MI 49506 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

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 neighborhood's primary market value indicator is the median sold price of 354,000, which reflects recent transaction activity and shows realized prices sit substantially below the median listing price of 512,400; pricing gap may indicate seller expectations exceed recent sale outcomes.
2. The median days on market is 257, signaling slower sales velocity and extended time-to-close; slower transaction volume suggests sellers may need to consider pricing or concession adjustments to accelerate liquidity.
3. The market temperature is neutral, alongside a sample-based indication of relatively constrained active supply, which appears to support balanced negotiation dynamics rather than one-sided market pressure; balanced conditions may persist absent a material change in demand or rates.
4. The price year-over-year trend is up, but interest rate pressure is noted as elevated—Current 30-year fixed mortgage rates in Grand Rapids, MI, are averaging approximately 6.375% to 6.53%—so rising prices coexist with constrained buyer purchasing power; elevated interest rate pressure means sellers should weigh timing and realistic pricing vs. longer marketing timelines.

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.