Your September Market Updates for Grand Rapids

Grand Rapids Real Estate Podcast with Mark Brace

The latest numbers are in for the Grand Rapids real estate market. What can you expect as a buyer or seller this September?

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As we begin September, let’s take a look at what’s happening in the Grand Rapids and Michigan real estate markets.

Right now, there are 2,007 homes for sale. That number is a little higher than normal. There are 1,730 pending home sales. In other words, there are almost the same number of homes for sale as there are under contract.

So far this year, 8,476 homes have sold at a rate of about 1,060 homes a month. That means our market has a total of 1.89 months of inventory.

If we look specifically at Kent County, there are only 1,500 properties for sale and 1,355 pending sales. So far this year, 6,700 homes have sold in Kent County at a rate of 838 home sales a month, leaving Kent County with 1.81 months of inventory.

What do all of these numbers mean for you?

Inventory has gone up slightly as we head into fall. With school starting, people are too busy to concentrate on real estate as much as they did this summer. Since inventory is slightly higher, buyers have a better selection now than they’ve had all year.

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Slightly higher inventory means buyers have more options to choose from.

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If you’re thinking of buying a home, now may be the time to seize the market.

If you are thinking of selling your home, there is still a lot of action in our market, which means you have a great opportunity to sell. Keep in mind that inventory has increased a little, so there may not be as many multiple offer situations as there were this summer.

If you have any other questions about buying or selling a home in our current market, just give me a call or send me an email. I would be happy to help you!