Grand Rapids Real Estate Update July 2023

The Current Status of the Grand Rapids Real Estate Market

In recent years, the real estate market in Grand Rapids, Michigan has experienced a dynamic shift. As we navigate through 2023, it's clear that these trends are continuing to evolve. This article will provide an overview of the current status of the Grand Rapids real estate market, drawing from the latest data and expert analysis.

Market Overview

As of June 2023, the number of homes for sale in Grand Rapids has reached 9431. Interestingly, there has been a decrease in the number of homes on the market between May and June of this year1. Despite this decline in inventory, home prices have increased by 5.3% compared to last year, selling at a median price.

In-Depth Market Trends

The average home value in Grand Rapids currently stands at $267,6163, a figure that has risen by 1.0% over the past year3. Homes in this area are selling quickly, going to pending status in around just six days3.

In fact, the median listing home price in Grand Rapids as of June 2023 was $325K, trending up 12.5% year-over-year4. This indicates that despite a decrease in inventory, demand for homes remains high, which is driving up home prices.

A Seller's or Buyer's Market?

The Grand Rapids real estate market leans towards being a buyer's market. In June 2023, homes sold for 3.12% above asking price on average5. This suggests that the supply of homes is greater than the demand for homes5.

Investment Opportunities

Despite these trends, Grand Rapids remains an attractive place to invest. The city has seen some of the greatest home appreciation rates in the nation over the past decade. This, coupled with the fact that Grand Rapids is poised to attract more people and have strong demand for housing, suggests that investing in rental property in this market can yield a favorable return on investment6.

Looking Ahead

The Grand Rapids real estate market shows no signs of slowing down. Despite fluctuations in inventory and home prices, the market remains robust. For those considering buying, selling, or investing in the Grand Rapids area, staying informed about these trends is key to making the best real estate decisions.

With its strong housing market and potential for investment, Grand Rapids continues to be a promising location for both home buyers and real estate investors alike.  

Listen to Our Radio Spots

Barb is Running From the Law
Real funny spot on Free Beer and Hot Wings on WGRD.
Don't Be Dan!
Listen to Free Beer and Hot Wings on 97.9 talk about Dan and the mistakes he made. Don't be a Dan. :)
Trista and Shawn Sell There Kentwood Home
Trista and Shawn where trying to sell there home "by owner". Listen to what happened to them when they asked for The Lash Group's help.
Steve and Linda Sell Their Caledonia Home
Listen to Free Beer and Hot Wings talk about Steve and Linda and Their Caledonia Home.
Luxury Listing We Just Sold
Free Beer and Hot Wings have a HILLAROUS story about a luxury listing we just sold. Check it out!
Mike in Rockford Is Looking to Sell His Home
Mike Sells his Home in Rockford, Mi. Free Beer and Hot Wings Talk about His Move. Click to listen to his story.
Bill Simonson and Our Instant Cash Offer
Listen to Bill talk about our "Instant Cash Offer" with The Lash Group @ eXp Realty. This is a Great program and option for a lot of home sellers.
Marketing Matters!
The only Grand Rapids Real Estate agent Bill Simonson, From the Huge Show, trusts is me. :) Click to hear how marketing matters!
Huge Show Interview, Spring of 2023
Had a great time doing an interview on "The Huge Show" with Bill Simonson in March of 2023.
Gary Levox with Rascal Flatts talks about The Lash Group
Selling in Newaygo
Free Beer and Hotwings Talk about Joining The Lash Group
More Fun with Free Beer and Hotwings
Free Beer and Hot Wings Making Fun of My Signs :)
Free Beer and Hot Wings Claims You Get Free Nudes at GRHomes.net
655 Properties
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Pending
426 Graham St SW Grand Rapids,  MI 49503
3
Beds
1
Baths
1,132
Sq.Ft.
1875
Year Built
63
Days on Site
24016727
MLS
Pending
5883 Freeton Drive Grand Rapids,  MI 49548
3
Beds
2
Baths
1,560
Sq.Ft.
2006
Year Built
43
Days on Site
24021255
MLS
Pending
4340 Brookmere Dr SE Grand Rapids,  MI 49512
$94,900
Neighborhood: Brookside Village Manufactured Home Community
3
Beds
2
Baths
1,300
Sq.Ft.
1990
Year Built
12
Days on Site
24027609
MLS
Pending
950 Watson St SW Grand Rapids,  MI 49504
3
Beds
1
Baths
1,139
Sq.Ft.
1885
Year Built
21
Days on Site
24026019
MLS
3
Beds
2
Baths
1,056
Sq.Ft.
1971
Year Built
1
Day on Site
24030043
MLS
Pending
1001 Watkins St SE Grand Rapids,  MI 49507
$150,000
Neighborhood: Harriet P Winsor S Add
3
Beds
1F11/2
Baths
1,288
Sq.Ft.
1925
Year Built
9
Days on Site
24028211
MLS
Pending
219 Abbie St SE Grand Rapids,  MI 49548
1
Beds
1
Baths
850
Sq.Ft.
1950
Year Built
26
Days on Site
24024953
MLS
Pending
554 Pine Ave NW Grand Rapids,  MI 49504
2
Beds
1
Baths
1,031
Sq.Ft.
1890
Year Built
9
Days on Site
24028342
MLS
1
Baths
455
Sq.Ft.
2014
Year Built
36
Days on Site
24022792
MLS
Pending
2918 Rurah Ave NE Grand Rapids,  MI 49505
2
Beds
1
Baths
668
Sq.Ft.
1915
Year Built
15
Days on Site
24026978
MLS
2
Beds
1
Baths
900
Sq.Ft.
1969
Year Built
1
Day on Site
24029959
MLS
Pending
444 Quimby St NE Grand Rapids,  MI 49505
2
Beds
1
Baths
684
Sq.Ft.
1880
Year Built
24
Days on Site
24025383
MLS

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