December Market Update: How the Year Closed & What to Expect in the New Year!

As we wrap up December, the Greater Grand Rapids real estate market continues to show stability, even during what is traditionally the slowest time of the year. While activity naturally tapers off around the holidays, the data suggests a market that remains competitive and well-positioned as we head into the new year.

December Market Snapshot

• Average Sale Price: $386,000, up 5.5% year-over-year

• Homes Sold: 1,107, an 8.6% increase compared to last December

• Average Days on Market: 34 days, down from 36 last year

• List-to-Sale Price Ratio: 96%

• Months of Inventory: 1.4 months

Even in December, homes continued to sell quickly and close to list price, reinforcing the strength of buyer demand across Greater Grand Rapids.

What the Numbers Are Telling Us

The average sale price of $386,000 reflects continued price stability and long-term appreciation, despite higher interest rates and seasonal headwinds. Buyers remain active, and sellers are still benefiting from strong demand—particularly for homes that are priced correctly and move-in ready.

Homes spent an average of 34 days on market, which is slightly faster than last year. This tells us that motivated buyers are still watching closely and ready to act when the right property becomes available.

The list-to-sale price ratio of 96% shows that sellers are still achieving strong outcomes, though buyers may find modest negotiation opportunities—especially on homes that require updates or are priced aggressively.

Perhaps most importantly, months of inventory remains at just 1.4 months, well below what’s considered a balanced market. This continues to put upward pressure on prices and keeps competition alive, even during the winter months.

Looking Ahead to the New Year

As we move into January and beyond, we expect activity to gradually increase. Buyer engagement typically picks up after the holidays, and more sellers begin preparing for spring listings.

If mortgage rates continue to stabilize, we could see increased competition earlier in the year than usual. Buyers who act before spring may benefit from less competition, while sellers who list early can take advantage of low inventory before more homes hit the market.

Bottom Line

The December numbers confirm that Greater Grand Rapids remains a strong and resilient market heading into the new year. Whether you’re considering buying, selling, or simply keeping an eye on your home’s value, understanding these trends can help you make confident decisions in the months ahead.