Is Grandville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Grandville has remained a Seller's Market.
Key Takeaway
Grandville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grandville, MI
How much do homes in Grandville, MI cost?
Median Sold Price
$343,800
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Grandville have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Grandville was $343,800 in May 2024, up 9.1% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $242.7K | -35.3% |
| 2 Bedrooms | $245K | $253.4K | +3.4% |
| 3 Bedrooms | $295.5K | $330.3K | +11.8% |
| 4 Bedrooms | $351K | $384.9K | +9.7% |
| 5+ Bedrooms | $540K | $590K | +9.3% |
Summary: Grandville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 9.3%.
Housing Supply in Grandville, MI
How many homes are available in Grandville, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 84 | 103 | +22.6% |
Summary: The Grandville real estate market had 103 homes for sale in May 2024, a 22.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 39 | 44 | +12.8% |
| 4 Bedrooms | 19 | 23 | +21.1% |
| 5+ Bedrooms | 7 | 12 | +71.4% |
Summary: The Grandville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 71.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 33 | +57.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grandville, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Grandville in May 2024, up by 57.1% month-over-month. Of the 33 sold homes, 24% were sold under asking, 9% were sold at asking, and 67% were sold over asking.
Days on Market for Grandville, MI
How long does it take to sell a home in Grandville, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 22 Days | -20.1% |
Summary: Homes in Grandville had an average of 22 days on market in May 2024, down by 20.1% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Grandville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Grandville; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
