Search All Homes For Sale

Expert Tips for Navigating the Real Estate Market

Our mission at Yoder Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

West Michigan Real Estate Market Update

There are many great Grand Rapids area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (616) 942-2449 for a FREE home buying or selling consultation to answer any of your real estate questions.

West Michigan Real Estate Market Update

Here’s what is happening in our current market:

  • There are currently 2,439 homes for sale, accounting for a 13% decrease from last year when there were 2,900 homes on the market. We are seeing trends of very low inventory and very high demand!
  • In the first quarter of 2014, there were 1,895 homes sold which accounts for an 18% decrease from 2013 when there were 2,306 homes for sale.
  • The average time a home spends on the market in the first quarter of 2014 is 69 days, as opposed to 71 days in the first quarter of 2013. The slight 3% difference is normal and indicates a healthy market.
  • The absorption rate in the first quarter of 2014 was 25% - anything above 20% indicates a “seller’s” market.

The slightly lower sales are nothing to be concerned about – we faced a tougher than normal winter, which put sellers about 30 days behind from when they actually should sell. If interest rates remain in the mid-4% range, expect the market to break loose.

If you have any questions or would like further clarification, please feel free to call or email me. Thanks and have a great day!