Things might be looking up for prospective buyers in East Grand Rapids. In a market plagued by a significant housing stock shortage, this is good news if you’re in the market for a home in the city of East Grand Rapids, Michigan. While the number of homes on the market has gone down over all (West Michigan – Greater Grand Rapids) from this time last year; from April to May 2014 there was a 36% increase in the number of homes for sale in East Grand Rapids, MI in May 2014.
This is a small area geographically in a sought after school district, so it’s not too surprising to see such low inventory, but it certainly does look like a spectacular time to sell in this area. The homes that sold last month were on the market an average of 24 days. That’s not even time to pack! That figure seems too low to be real, doesn’t it? How can you possibly sell a whole house in less then a month? But back in September 2013, the average number of homes that sold that month had been on the market only 26 days.
That number of days on the market gradually decreased all last summer with the average number remaining below 50 from May through September 2013. It certainly seems that fortune favors those who list their homes in early summer. List your home now and it’s likely to be sold by mid August! Just in time to get the kids ready to go back to school! To obtain a Real Estate Market Report specific to your neighborhood and community contact us
Data courtesy of the Grand Rapids Association of REALTORS
This report was brought to you by Beth Miller & Lola Audu – Audu Real Estate Inc. Copyright 2014