A Snapshot of Today’s Market Conditions
Understanding the current housing market in Kent County, Michigan, is crucial for both buyers and sellers aiming to make informed decisions. With shifts in inventory levels, pricing, and market pace, having a clear grasp of the latest trends can help you strategize effectively.
Kent County is currently in a seller’s market, with just 1.32 months of inventory available. This low supply means demand is outpacing availability—often leading to quicker sales and potentially higher prices. Sellers have the advantage of a competitive environment, while buyers should be prepared to act quickly and make strong offers to secure their ideal home.
Inventory Trends and What They Mean for You
Over the past month, inventory levels have seen a slight 2% increase, but the 12-month trend shows a 6% decrease. This means there’s been a recent uptick in available homes, but overall supply remains low.
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For Sellers: Now is a favorable time to list, with limited competition giving your property a stronger spotlight.
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For Buyers: Be mindful of the continued scarcity—this may mean expanding your search criteria or making faster decisions when a suitable property hits the market.
Homes Selling Above Asking Price
Currently, homes in Kent County are selling for about 101% of their asking price. This signals that many buyers are willing to pay above list price to secure a home, reinforcing the competitive nature of the market.
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Sellers can expect to negotiate from a position of strength, potentially receiving multiple offers.
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Buyers may want to consider offering above the asking price—especially for desirable properties—to increase the odds of success.
Speed of the Market
With a median of just 7 days on the market, homes are selling at a rapid pace.
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For Sellers: Ensure your home is market-ready from day one—professional photos, staging, and a competitive listing price can make a big difference.
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For Buyers: Be prepared to move quickly, as desirable homes may receive offers within days (or even hours) of listing.
Median Sold Price and Affordability
The median sold price in Kent County is $366,500.
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Sellers should use this figure as a benchmark when pricing their homes, balancing competitiveness with profitability.
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Buyers can use it to assess affordability, budget planning, and financing options.
Expert Guidance for Your Next Move
Whether you’re buying or selling, navigating Kent County’s real estate market requires quick decision-making and a strong strategy. For personalized guidance and proven expertise, contact us. We have experience in the local market can help you make informed moves in today’s fast-paced environment.
