Grand Rapids sellers cut prices as homes sell 21 days faster

"Nearly half of Grand Rapids, MI metro home sellers reduced asking prices during the week ending Nov. 14, 2025, while the market maintained its position as one of Michigan's fastest-moving housing markets with homes selling 21 days quicker than the state average. The aggressive pricing strategy appears to be working. The metro absorbed 189 homes during the week, up 14.5% from 165 homes during the same period last year. Properties sold in a median 42 days compared to 63 days statewide and 77 days nationally."

"Active listings with price reductions reached 44.9% in the Grand Rapids-Wyoming metro, while just 0.8% of sellers raised prices. The median list price held steady at $365,000, virtually unchanged from $364,950 a year ago. Despite widespread price cuts, values remain elevated. The metro's price per square foot hit $226.9, exceeding both the national average of $211.3 and Michigan's $171.8. The pricing dynamics reflect a market where sellers are choosing strategic adjustments over extended listing periods."

"Grand Rapids recorded 1,132 active listings with 160 new properties entering the market during the week. The metro's months of supply stood at 1.5, well below Michigan's 2.3 months and the national level of 2.7 months. The relisting rate reached 6.5%, indicating most properties that leave the market do so through sales rather than withdrawals. The combination of limited inventory and rapid absorption rates continues to favor sellers despite the prevalence of price reductions."

Nearly half of Grand Rapids metro home sellers reduced asking prices during the week ending Nov. 14, 2025, while only 0.8% raised prices. The metro absorbed 189 homes, a 14.5% increase from the same week last year. Median days on market were 42, compared with 63 statewide and 77 nationally, and months of supply stood at 1.5. Median list price remained near $365,000 and price per square foot reached $226.9, above national and state averages. Active listings numbered 1,132 with 160 new entries and a 6.5% relisting rate. Limited inventory and rapid absorption continue to favor sellers despite frequent price cuts.

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