Grand Rapids Real Estate Market Trends From March

 

Grand Rapids Home Sales Increase in March

The Grand Rapids real estate market had a good month in March which saw a 19.5% sales volume increase compared to the same period last year. Additional good news shows that the percentage of foreclosure sales has dropped for the third consecutive month. This could be that more people are selling their Grand Rapids home as a Short Sale, instead of letting their home be foreclosed.

Grand Rapids Real Estate

These foreclosure and short sales will continue to depress the market as they typically sell below market value how ever the number of “regular” single family home sales also increased  in March, over the same time last year. 970 single family homes sold last month versus 812 a year ago.

The average Grand Rapids Home Sales price is up 2% from February however it is still down 20% from one year ago. The average sale price of a home today is $97,351. Active listings remain stead at slightly under 9000 listings which is close to February’s numbers.

So while the market remains slow, there is a slight uptick in activity which is a good sign as we are entering our typically busy season. From personal experience, I have been quite busy this first quarter and am excited for what the rest of the year holds.

For more information on the Grand Rapids market, visit my website at GRRealEstateInfo.com or contact me any time.

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