Real Estate Market Update | Feb 2017

March 13, 2017

The Grand Rapids Association of Realtors® has just released the housing numbers for Feb 2017.

Here are some down and dirty numbers:

  • Compared to last year, we had even fewer single-family homes on the market, down by almost 12%
  • Residential closed sales were down from this time last year as well, just over 8% under
  • Average sales prices are up, by a little over $9,ooo compared to last year, Feb.
  • We have about 1.5 months worth of inventory on the market, down from last year.

So what do the numbers mean?

West Michigan’s housing market is still better for sellers. There is a big need for listings, so if you want to sell your home, there might not be a better time to get the most for your home.

Call us at 616-288-2801 if you have questions about the report, or if we can help yourself or anyone you know with the sale of their home!

 

 

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