Grand Rapids-Wyoming-Kentwood, MI

The expansion in active listings and the increase in median days on market to 42 suggest a market where buyers are gaining more latitude in their decision-making process. While properties are still moving, the year-over-year decline in the pending ratio indicates a moderation in the velocity of sales, necessitating more strategic pricing and negotiation. Price reductions are becoming more prevalent, with 21.3% of listings experiencing a reduction, signaling a recalibration of seller expectations.

Average listing prices increased by 1.1% year-over-year, outpacing the 0.6% year-over-year rise in median listing prices. However, no distinct signal of luxury-segment softness is present in this dataset; median price per square foot metrics and overall trends for higher-priced properties do not indicate a significant divergence from the broader market.

2,182 active listings represent the current floor, with new supply arriving at roughly 1,304 per month.

of active listings carry a price reduction, +1.1% from prior period.

Median price per square foot has moved +1.9% year-over-year.

Pending-to-active ratio — Stabilizing.