Here Is A Look At The Grand Rapids Real Estate Market Report | January 2018
January 2018 is a Sellers Market!
Well, the Holidays are over and you’re probably recovering from “sticker shock” from the credit card statements. The upcoming Grand Rapids real estate market looks to be a carbon copy of the last 2 years. RED HOT! Let me explain the reason for my outlandish forecast.
The number of for sale listings was down 12.3% from the previous month. The number of sold listings decreased 33.2% month over month. The number of under contract listings was up 28.3% compared to previous month. The Months of Inventory based on Closed Sales is 2.
The Average Sold Price per Square Footage was down 2.5% compared to previous month. The Median Sold Price decreased by 2.9% from last month. The Average Sold Price also decreased by 0.5% from last month. Based on the 6 month trend, the Average Sold Price trend is “Depreciating” and the Median Sold Price
trend is “Depreciating”.
The Average Days on Market showed a neutral trend. The ratio of Sold Price vs. Original List Price is 96%.
My Conclusion is listed below.
Instant Online Home Value Estimator
These homes are listed as Steals and Deals because their list price/sqft is $80 or less. The graph below describes the sold price/sqft $79 in January 2018. So these homes are listed below the sold price/sqft which means they are listed below what other homes have sold for per square foot.
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