Grand Rapids, MI 49507 Real Estate Market Report

ZIP Code: 49507
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 the 49507 area are approximately 6.34%, which reflects the prevailing market environment for loans originated in 2026.

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. $219,900 is the median sold price, which serves as the primary indicator of realized market value and suggests recent transactions are occurring at a premium relative to asking levels given the $244,000 median listing price gap.

2. $219,900 in combination with a median days on market of 214 suggests slower sales velocity on listed stock and may indicate pricing friction despite a generally hot market temperature.

3. $162 median price per square foot and $1,450 median market rent together point to sustained valuation support for SFR and condo product lines while rent trends are up, indicating ongoing rental demand.

4. Macro factors show interest rate pressure is elevated with local 30‑year fixed mortgage rates around 6.34%, which may constrain some buyer affordability even as the price year‑over‑year trend remains up and the market temperature is characterized as hot.

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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 49507 Real Estate Market Report

ZIP Code: 49507
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

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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 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 the 49507 area are approximately 6.34%, which reflects the prevailing market environment for loans originated in 2026.

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 median sold price is the primary indicator of market value and recent transaction activity; with the local price year-over-year trend reported as up, this suggests realized sale values are strengthening relative to last year.

2. The median days on market is 273, which points to slower sales velocity and extended time-to-contract for representative recent sales—this may indicate pricing friction or careful buyer underwriting despite rising sold prices.

3. Observed sample conditions indicate elevated inventory relative to sales activity, which appears to coexist with rising prices and a hot market temperature; this combination suggests selective buyer demand concentrated on competitively priced or move-in-ready SFR and condo listings.

4. Financing cost pressure is a material constraint: Current 30-year fixed mortgage rates in the 49507 area are approximately 6.34%, and interest rate pressure is characterized as elevated; this may dampen affordability even as rents (median market rent 1,195) and price per square foot (185) both signal ongoing demand for housing units.

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Notable Properties

The following 1 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.