Grand Rapids Housing Market Report

This is the Grand Rapids housing market as of July twenty twenty-six. No tour, no history — if you want the full walkthrough of the area, watch the Living In video. This is the numbers: what homes cost, how fast they move, and where the leverage actually is. Start with price. The typical Grand Rapids home is valued around three hundred four thousand dollars — about thirty thousand below the Kent County median of three thirty-five. The county number is being pulled up by the suburbs, not by the city. The sources disagree, so here they all are. Redfin's city median sits near three hundred two thousand, up three to five percent year over year. The MLS-wide metro cut prints higher and up six point three. And price per square foot is up eleven point six percent — per foot, this market is hotter than the headline. The city on one card. Two hundred thousand people, a typical value near three hundred four thousand, homes going pending in about nine days, and roughly twenty minutes to cross town to downtown. That's a deep, liquid market — one sale doesn't move the median. Speed has not cooled. Homes go pending in about six days on Redfin's read, exactly where they were a year ago, and the share selling above asking actually rose, from fifty-three percent to fifty-seven. Fewer sales this June, but the ones that closed closed hot. Against its own neighbors, the city is not the expensive option. Grandville and Kentwood both print higher typical values, Wyoming prints lower, and Grand Rapids sits in the middle at three hundred four thousand. You pay for the ring, not the core. My read, in one line. One month of supply keeps a floor under prices — it does not keep a floor under bad pricing. Sellers still hold the leverage on speed, but overpriced listings sit now, and they didn't in twenty twenty-five. Everything in this report traces back to one thing: there isn't enough for sale. The city has not built its way out of it. Here's what supply actually looks like right now. One point one months of supply. Balanced is five to six, so this is a fifth of a normal market. Six hundred fifty-eight active listings inside the city, and on the wider brokerage footprint inventory is finally building — up almost five percent month over month. So where do buyers actually get room? Not under two fifty — that is the most competitive band in the metro. The room is upstairs: five hundred thousand and above, anything that has sat thirty days, and homes that need cosmetic work. This is the most useful cut in the whole report. Under two hundred fifty thousand there are nearly twice as many homes under contract as there are listed. Above five hundred thousand it flips — more listings than deals. That flip is where your leverage lives. Put a number on the pace. About nine days to pending on our own read, six on Redfin's. Either way, a well-priced Grand Rapids listing is under contract inside two weeks. If you're touring on the weekend, you're touring what's left. Rates. The thirty-year fixed averaged six point four nine percent the week of July ninth, down from six seventy-two a year ago. The forecast consensus for the rest of the year sits in a tight six to six-and-a-half band. Nobody credible is calling for fives. If you're buying here: get fully underwritten before you tour, because at six days to pending a pre-qualification letter is not a weapon. Then hunt above five hundred thousand, or on anything that has sat past thirty days — that's the only tier where you can ask for something and get it. If you're selling here: this market will still pay you over asking, fifty-seven percent of June sales did, but it pays for correct pricing, not optimism. Under five hundred thousand, price to the comps and expect a contract inside two weeks. Above five hundred, plan for a month and sharpen the number. That's Grand Rapids in July twenty twenty-six: one month of supply, six days to pending, and leverage that only shows up above five hundred thousand. Want the current number for your street instead of the city median? Reach out and I'll run it.