Grand Rapids Housing Market Update: August 2026

The Greater Grand Rapids housing market is beginning to look noticeably different than it did a year ago. Home prices continue to rise and well-positioned homes are selling quickly, but buyers have significantly more homes to choose from.

According to August 2026 market statistics, the median sale price reached $398,460, up 2.6% from $388,251 in August 2025. At the same time, the number of homes available for sale has more than doubled.

So, is Grand Rapids still a seller’s market? Yes—but the market is gradually becoming more balanced, and that creates both opportunities and challenges for buyers and sellers.

Grand Rapids Housing Market at a Glance

Here’s how August 2026 compares with August 2025:

Market Statistic	August 2026	August 2025	Change
Median Sale Price	$398,460	$388,251	+2.6%
Homes Currently for Sale	1,003	492	+103.9%
Average Days on Market	6 days	9 days	-33.3%
Months of Inventory	1.9 months	0.9 months	+117.9%

These statistics include Grand Rapids, Wyoming, Rockford, Kentwood, Hudsonville and other communities throughout the Greater Grand Rapids area.

Are Grand Rapids Home Prices Still Increasing?

Yes. The median sale price increased to $398,460 in August, representing a 2.6% year-over-year increase.

That’s important because even as more homes have come onto the market, values have continued to appreciate.

The rate of appreciation may be more moderate than what West Michigan homeowners experienced during the extremely competitive markets of the past several years, but we are still seeing home values move in a positive direction.

For homeowners considering selling, that means many have continued to build equity even as market conditions become more balanced.

Grand Rapids Housing Inventory Has More Than Doubled

This is arguably the biggest story in the August numbers.

There were 1,003 homes currently available for sale, compared with only 492 in August 2025. That's an increase of 103.9% in just one year.

Months of inventory has also increased substantially, climbing from 0.9 months last August to 1.9 months this August.

Why does that matter?

Inventory measures the relationship between the number of homes available and the current pace of buyer demand. Generally, the lower the number, the more conditions favor sellers.

At 1.9 months, inventory remains relatively limited, but buyers have considerably more options than they had a year ago.

That's creating more competition between sellers, not just between buyers.

How Quickly Are Homes Selling in Grand Rapids?

Interestingly, despite the significant increase in inventory, homes actually sold faster this August.

Average days on market decreased from 9 days in August 2025 to just 6 days in August 2026.

That tells us there is still plenty of buyer demand in Greater Grand Rapids.

However, those numbers don't necessarily mean every home will sell within a week. Condition, location, presentation and—perhaps most importantly—pricing can make a significant difference.

We're increasingly seeing a separation between homes that are priced appropriately and attract buyers quickly and those that start too high and spend considerably longer on the market.

Is Grand Rapids Still a Seller's Market in 2026?

Based on the August numbers, Greater Grand Rapids continues to favor sellers, but conditions are moving toward a healthier balance.

At 1.9 months of inventory, supply remains relatively tight. However, that's more than double the 0.9 months of inventory available one year ago.

For sellers, that means the days of assuming buyers will compete for virtually any home simply because inventory is scarce are fading.

Today's buyers have more choices.

A home that is properly prepared, presented well and competitively priced can still generate significant interest. But an overpriced home may now sit while buyers choose competing properties instead.

What Does the August Market Mean for Grand Rapids Home Sellers?

If you're considering selling a home in Grand Rapids or the surrounding West Michigan communities, the numbers are encouraging.

Home values are up 2.6% year over year, and the average home is selling in just six days.

But the 103.9% increase in available inventory is equally important.

Sellers should pay particular attention to:

• Pricing: Look closely at both recent sales and current competing listings when establishing a list price.

• Condition: Buyers have more options, making repairs, cleaning and general presentation increasingly important.

• Staging and photography: The way your home appears online can determine whether a buyer schedules a showing or moves on to the next property.

• Current competition: Pricing based solely on what a neighbor sold for several months ago can overlook what's happening in the market today.

The goal shouldn't necessarily be to list at the highest possible price. It's to position the home where the market sees value and creates the strongest combination of price, terms and buyer interest.

What Does the Market Mean for Grand Rapids Home Buyers?

The increase in inventory is good news for buyers.

With more than twice as many homes available as there were a year ago, buyers have more opportunities to compare properties and potentially be more selective.

That doesn't mean competition has disappeared. With homes averaging only six days on the market, an attractive property that's priced correctly can still move very quickly.

Buyers should be prepared before the right home hits the market. That means having financing in place, understanding your comfortable monthly payment and knowing what you're willing to compromise on—and what you're not.

There may also be more negotiating opportunities on homes that have been sitting on the market longer, particularly if they've already had a price reduction.

Should You Buy or Sell a Home in Grand Rapids Right Now?

There isn't one answer that works for everyone.

For sellers, values remain strong and buyer demand is still active, but increased inventory makes pricing and preparation more important.

For buyers, there are considerably more homes to choose from, but the best properties can still attract attention very quickly.

Rather than trying to perfectly time the housing market, the better question is whether buying or selling makes sense for your individual circumstances, finances and long-term plans.

The Bottom Line

The August 2026 numbers show a Greater Grand Rapids housing market that remains strong while gradually becoming more balanced.

Home prices are up. Inventory has more than doubled. Homes are still selling quickly.

That's a healthier combination than we've seen during some of the extremely inventory-constrained markets of recent years.

For sellers, the changing market makes a strong pricing and marketing strategy increasingly important. For buyers, additional inventory is finally creating more choices and, in some situations, greater negotiating power.

At Perigon Realty Group, we help buyers and sellers understand what these broader market statistics actually mean for their specific neighborhood, price range and goals.

Whether you're considering selling, starting a home search, or simply wondering what your home may be worth in today's market, we're always happy to help you make sense of the numbers.