Grand Rapids, MI 49507 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

Key Findings

1. The primary market indicator is the median sold price of 208,000, which represents the most representative recent sale level and suggests sellers should price expectations around that realized transaction value rather than higher asking points; use the median sold price for valuation when preparing offers or listings.
2. There is a meaningful spread between the median listing price of 256,450 and the median sold price of 208,000, which may indicate pricing friction and suggests that aggressively priced listings or those with clear buyer value propositions are more likely to convert; pricing gap should be addressed in pre-listing strategy.
3. Market liquidity appears slower given a median days on market of 221, which suggests extended marketing times and that sellers may need concessions or staged improvements to accelerate transactions; slower sales velocity may create negotiation opportunities for buyers.
4. Price momentum is positive (price year-over-year trend is up) while interest rate pressure is elevated, and rent is trending up with a median market rent of 1,375—this combination suggests cautious optimism for continued modest appreciation but higher financing costs may temper buyer demand, so underwrite deals with rate sensitivity and consider rental income stability when evaluating investment returns.

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.