According to an article published on the WZZM 13 website, Grand Rapids' housing market is the hottest it has ever been since such information was recorded and analyzed. There are currently fewer available properties in the greater Grand Rapids area on the open real estate market than at any time previously researched.
Housing inventory is low, which means right now it is a sellers' market. If you have been interested in possibly selling your home and upgrading or moving into a neighborhood or house more befitting your current lifestyle, this is a great moment in local real estate history to maximize the value of your current residence.
According to statistics provided to WZZM 13 by the Grand Rapids Area Realtors organization, the average sale price of a home in the Grand Rapids area so far this year is $176,020, which is up a staggering 9.6% when compared to last year's home prices. Nationally, the average home price is currently $236,400, which WZZM 13 reports is above the peak price set in June 2006. That price represents a national increase in real estate sale prices of 6.5%, clearly indicating that Grand Rapids' market is hot and continues to offer more value and buying powerful for homes than other urban markets. That means that selling your home now, especially if you've been putting it off to wait for prices in the area to rebound, may be a wise decision.
Of course, selling your home in a hot real estate market isn't as simple as slapping a sign in the yard. In order to maximize the return on one of the most important investments that you make with your money, you should consult with a well-educated and experienced realtor, who can ensure that you are maximizing the potential return on your real estate transaction. One of the biggest downfalls of self-represented buyers can be massively overly estimating the value of a property without checking it against other comparable sales in the nearby community. If you're considering listing your property, check out our free, fast home value estimator tool, and talk to one of our talented staff members today about getting the most out of listing your property.
Those hoping to buy should recognize that now is a time when you assertive, aggressive representation by a professional realtor, such as the excellent staff at Pyxis Realty. Many houses are selling within one to two weeks of being on the open market, with many properties receiving multiple offers, many times above the asking prices of the properties (which are up from where they would have been at this time last year). Without a seasoned professional representing you and helping you make a fast, competitive offer on a property, there's a good chance your dream home could slip right through your fingers in a market like this!
Pyxis Realty prides itself on attention to detail, peerless client services, and representation in the real estate market that you can trust and count on, no matter what your need or price range. Whether you're selling to take advantage of the price increases or hoping to buy despite the quick pace of sales currently, the staff at Pyxis Realty has the professional experience to ensure it goes well for you!