Grand Rapids, MI Housing Market Report

The Grand Rapids housing market entering December 2025 remains a competitive environment that continues to lean in favor of sellers. With active inventory sitting at 1,700 units—a slight decrease of 0.87% compared to last year—the supply of available homes is struggling to keep pace with local demand. The sale-to-list ratio holding steady at 1 indicates that properties are generally selling for their full asking price, reflecting a disciplined market where buyers are willing to meet seller expectations to secure a home.

Price trends over the latter half of 2025 show a consistent upward trajectory, with the median home value rising from $283,790 in July to $288,993 in December. This represents a 2.61% year-over-year increase, signaling steady appreciation rather than volatile spikes. This growth is mirrored in the rental sector, where median rents have climbed 3.74% to $1,828. The steady climb in values suggests that the Grand Rapids-Kentwood metro area remains an attractive destination for both primary residents and investors seeking stable returns.

Looking ahead, the market appears to be in a phase of sustained equilibrium. The average time on market has remained unchanged at 41 days, suggesting that while the market is moving, it is not experiencing the frantic pace seen in previous years. For buyers, this means there is a window to negotiate, though they must remain decisive given the tight inventory. For sellers, the current climate offers a high probability of achieving list price, provided the home is priced accurately according to the recent six-month appreciation trend.