Grandville, MI Real Estate Statistics ~ June 2010
Like many areas of the West Michigan real estate landscape, Grandville, MI has been impacted by the rise in foreclosures and short sales which have accounted for an increasing number of transactions within the past year.
The graph below is provided courtesy of the Grand Rapids Association of Realtors. There has been a downward trend with regards to home prices. The median sales price is $81,000 compared to approximately $120,000 in June of last year (2009) while the average sales price hovers at around $100,000.
Current inventory on the market is just under 9 months, but home owners who are successfully selling their homes seem to understand what the market requires to get to the closing table. Houses priced to compete effectively in the current market are selling within 93.72% of the list price. There are currently 114 homes on the market and the average number of days on the market for homes which have sold is 72.
Chart & data provided courtesy of the Grand Rapids Association of Realtors