Real Estate Market Update for 49507 (Grand Rapids, MI)
Welcome to January's Market Update. Let’s take a look at residential real-estate activity in your area during the month of December. The number of active listings was down 51% from one year earlier, and down 44% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 70-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 4%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 80-thousand dollars. The number of units sold decreased 35% year-over-year, and decreased 33% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for 49507 (Grand Rapids, MI)
Area Information for 49507 (Grand Rapids, MI)
  • Population: 36,452
  • Median Age: 30.19 yr
  • Median Commute Time: 20 mins
  • Educational Climate*: 2
  • Sales Tax: 6%
  • Population Density: 6,606/sq mi
  • Population Change Since 2000: -6.5%
  • Closest Airport: Gerald R. Ford International
  • Closest College: Aquinas College
  • Closest Jr. College: Grand Rapids Community College
  • Median Household Income: $35,475
  • Annual Residential Turnover: 19%
  • Median Home Sales Price: $73,830
  • Closest Major Sports Team: West Michigan Whitecaps (a)
  • Change Avg. Household Income Since 2000: 4.81%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 49507 (Grand Rapids, MI)
Median Age: 30.19 Married: 28% Number of Households: 11,857 Households with Children: 4,956
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 49507 (Grand Rapids, MI)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Dickinson School 0.1 mi Public PRESCHOOL-8 0 3
      Ken O Sha Ec & Se Center 0.1 mi Public K-8 0 0
      Hope Academy Of West Michigan 0.3 mi Public PRESCHOOL-12 0 0
      Grand Rapids Ellington Academy Of Arts And Technology 0.4 mi Public 6-8 0 0
      River City Scholars Academy 0.6 mi Public K-7 0 0
      William C. Abney Academy - Middle School 0.8 mi Public 6-8 3 0
      New Branches Charter Academy 0.8 mi Public K-8 1 4
      Buchanan School 0.8 mi Public PRESCHOOL-5 2 3
      Brookside School 0.9 mi Public K-5 2 2
      Burton Elementary School 0.9 mi Public PRESCHOOL-5 1 3
      Burton Middle School 0.9 mi Public 6-8 1 3
      Alger Middle School 1.0 mi Public 6-8 0 0
      Southeast Career Pathways 1.3 mi Public 8-12 0 0
      Covenant House Academy Grand Rapids 1.3 mi Public 9-12 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: and Onboard Informatics © 2015
      Local Weather for 49507 (Grand Rapids, MI)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.