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 :)
415 Properties
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3
Beds
2
Baths
1,568
Sq.Ft.
2019
Year Built
3
Days on Site
24009737
MLS
Pending
414 Seventh St NW Grand Rapids,  MI 49504
3
Beds
1
Baths
800
Sq.Ft.
1910
Year Built
37
Days on Site
24004810
MLS
Pending
730 Coit Ave NE Grand Rapids,  MI 49503
2
Beds
1
Baths
984
Sq.Ft.
1870
Year Built
39
Days on Site
24004470
MLS
Pending
29 Home St SW Grand Rapids,  MI 49507
5
Beds
2
Baths
2,200
Sq.Ft.
1925
Year Built
27
Days on Site
24006083
MLS
Pending
233 Rose St SW Grand Rapids,  MI 49507
3
Beds
1
Baths
1,014
Sq.Ft.
1919
Year Built
38
Days on Site
24004651
MLS
Pending
575 Jefferson Ave SE Grand Rapids,  MI 49503
3
Beds
1
Baths
885
Sq.Ft.
1910
Year Built
104
Days on Site
23142723
MLS
Pending
663 Blue Ash Dr SE #103 Grand Rapids,  MI 49548
2
Beds
1
Baths
767
Sq.Ft.
1972
Year Built
48
Days on Site
24003391
MLS
Pending
509 Crosby St NW Grand Rapids,  MI 49504
3
Beds
1F11/2
Baths
1,100
Sq.Ft.
1890
Year Built
74
Days on Site
23145364
MLS
1
Beds
1
Baths
539
Sq.Ft.
1927
Year Built
2
Days on Site
24010047
MLS
Pending
815 Cottage Grove St SE Grand Rapids,  MI 49507
3
Beds
1
Baths
1,494
Sq.Ft.
1885
Year Built
11
Days on Site
24008538
MLS
Pending
714 Adams St SE Grand Rapids,  MI 49507
3
Beds
1
Baths
1,600
Sq.Ft.
1910
Year Built
198
Days on Site
23030585
MLS
3
Beds
9F11/2
Baths
1,332
Sq.Ft.
1944
Year Built
12
Days on Site
24008291
MLS

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