Grand Rapids, MI 49507 Real Estate Market Report

ZIP Code: 49507
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Grand Rapids housing market in April 2026 is characterized by a median sold price of $207,000, reflecting stable to moderate appreciation trends. The market has seen an increase of 15% since 2023, indicating a positive trajectory in property values. While the median listing price stands at $237,450, the gap between listing and sold prices suggests some pricing friction, potentially indicating seller expectations are outpacing buyer willingness in certain segments.

Transaction activity appears to be moderate, with 205 days on market indicating a slower sales velocity. This extended time frame may suggest a cooling in buyer urgency, contributing to elevated inventory levels. Overall, the market is neutral to slightly warm, with a slight seller edge in specific areas due to limited inventory, yet the overall conditions remain balanced.

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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.

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Key Findings

1. The median sold price is $207,000, reflecting a stable appreciation trend in the market.

2. Transaction velocity is slower with a median days on market of 205, indicating prolonged sales cycles.

3. The median listing price of $237,450 suggests some pricing friction relative to the sold price, indicating potential seller expectations may be high.

4. Market conditions are neutral, with a slight seller edge in certain segments due to limited inventory.

5. Rental demand remains steady with a median market rent of $1,576, showing modest rent growth year-over-year.

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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.