🏠 Is Now a Good Time to Buy or Sell in Grand Rapids, MI?

If you’ve been watching the Grand Rapids housing market lately, you’ve probably noticed the headlines: home prices leveling off, mortgage rates fluctuating, and inventory still tighter than normal. It’s natural to wonder — is now really a good time to buy or sell a home in Grand Rapids?

The honest answer: it depends on your situation — but the good news is, opportunity exists on both sides if you understand the current market dynamics. Let’s break it down with insights from the team at Perigon Realty Group.

The Grand Rapids Market in 2025: A Snapshot

Grand Rapids continues to be one of Michigan’s most stable and desirable real estate markets. Even as some cities nationwide cool off, West Michigan remains resilient thanks to strong job growth, vibrant communities, and a consistent influx of new residents drawn to its affordability and lifestyle.

According to recent local data, the median home price in Grand Rapids has held steady, while inventory (the number of homes available for sale) remains about 25–30% below pre-pandemic levels. Homes in move-in-ready condition, especially in walkable areas like Eastown, Fulton Heights, and Alger Heights, are still selling quickly.

Is It a Good Time to Buy?

1. Rates Are Higher Than a Few Years Ago — But Stable

While mortgage rates aren’t as low as the historic 2021 levels, they’ve recently stabilized — which gives buyers more predictability when budgeting. Many lenders have reintroduced creative loan options, including rate buydowns and first-time buyer programs, that make ownership more accessible.

Perigon Realty Group works closely with trusted lenders to help clients understand their full financing picture, ensuring no surprises down the line.

2. More Negotiation Power

Buyers have regained some leverage that was lost during the frenzy of 2021–2022. Fewer bidding wars mean you can take a breath, schedule inspections, and make thoughtful offers rather than rushed ones.

3. Rent vs. Buy Math Favors Ownership

Rents in Grand Rapids have continued to rise faster than mortgage payments in many cases. For buyers who plan to stay put for 3–5 years, purchasing a home still builds wealth faster than renting — especially when factoring in appreciation and equity growth.

Is It a Good Time to Sell?

1. Low Inventory = Strong Seller Advantage

Even with more balanced conditions, sellers hold the upper hand in many neighborhoods. There simply aren’t enough well-maintained, move-in-ready homes to meet buyer demand — particularly in the $300K–$600K range.

Homes that are priced accurately and marketed effectively (professional photos, video, social reach) are still seeing multiple offers within days — something Perigon Realty Group continues to experience across listings in East Grand Rapids, Wyoming, and Byron Center.

2. Serious Buyers Are Still in the Market

Interest rates have filtered out the “lookers” and left serious, qualified buyers — often relocating professionals, first-time buyers with strong credit, and growing families. These are motivated buyers who know value when they see it.

3. Move-Up Sellers Benefit Too

If you’re selling and buying simultaneously, you can benefit from a balanced market. You’ll likely sell your current home quickly and negotiate more favorable terms on your next purchase — a win-win.

Grand Rapids Real Estate Cycles: What History Shows

Historically, the Grand Rapids market has shown steady appreciation, even when national trends dipped. The area’s economic diversity — with healthcare, education, tech, and manufacturing — helps insulate it from sharp downturns.

Since 2015, median home prices have roughly doubled, and even during slower cycles, values have held. That resilience gives both buyers and sellers confidence.

What Perigon Realty Group Recommends

• Buyers: Focus on long-term value. If you find the right home that fits your needs and budget, now is a smart time to act. Rates can always be refinanced — but you can’t rewind lost equity or missed opportunities.

  
  

• Sellers: Don’t wait for a “perfect” market. Instead, price strategically, stage well, and partner with a team that knows how to position your home in this environment. The right marketing can turn a good sale into a great one.

  
  

The Bottom Line

Yes — now can be a great time to buy or sell in Grand Rapids. The key is having the right strategy, guided by local expertise.

The Grand Rapids housing market isn’t cooling — it’s normalizing, and in many ways, that’s healthy. It rewards informed buyers, realistic sellers, and teams who understand both the numbers and the nuances.

That’s exactly where Perigon Realty Group thrives: helping clients move confidently, no matter what the market’s doing.