Welcome to March! I am Dave Veldkamp with RE/MAX GR and here is what happened in February in the Greater Grand Rapids real estate market. We saw just 565 single family home sales, which is 20% less than last February. The good news is the average sale price was up 12.5% from last year coming in just over $316,000. 60% of homes sold over the list price, 17% at the list price and nearly 1/4 of homes sold below the listing price. On average, buyers paid $9700 more than the list price to secure the home. That is more than double the $4700 above asking buyers we paying in January and last year we didn’t see buyer have to pay that much over until mid-april. Finally, we saw rates climb about another 1/4 of a point, yet they remain historically low.
The market is definitely challenging and a top real estate professional has never been more valuable than right now. So position yourself as the expert.
Use these stats and your mobile phone to create a quick monthly market update video of your own. Check out the sample I made in just 5 minutes with the RE/MAX Hustle Video editor we provide all of our agents to stay cutting edge. Check out the vertical orientation and short time frame, perfect for social media and mobile. If you have a goal of doing more video this year, invest the 5 minutes every month. That is just one hour a year! We provide the content, use an easy video editor like our RE/MAX Hustle tool and position yourself as the expert in front of hundreds of people when they need you most.
Keep elevating our industry!
Watch the Video: https://youtu.be/Zw_oh384TmE
Sample Monthly Market Update Video
Download Above List Price Pie Chart
David Veldkamp
RE/MAX GR
(616) 460-6123 (Call or text)