The year over year numbers are showing an increase in median home sales UP by 10.85% for the Greater Grand Rapids Area.
Inventory is lower than what we saw last year (21% fewer homes on the market than last year.) So with fewer homes on the market – it keeps the local market in a state of a “Seller’s Market” where there remains more sellers than buyers. Like any product – when there are few of something and people want those few “rare” products – they will bid strong to look to obtain the product. We are seeing that here in our local market. It’s not the crazy market we were in a few years ago – but the market continues to weighted in favor of sellers.
You can read the full report here: Market Report Nov 2023
How does this translate for your real estate goals in 2024? Let’s talk!