Here’s an opinion piece I wrote that was published in the rapidian, in response to the article Just Out of Reach: Housing Prices Climb on Grand Rapids’ West Side

FULL ARTICLE HERE

Excerpts:

Everyone agrees, 2015 was a crazy year for Real Estate in West Michigan. Why, to what extent, and how that affects our market are questions that are less processed and understood. Here, I’ll share some analysis and interpretation, to add perspective and to assist with drawing some conclusions. I’ll start broad and finish by examining the elusive “West Side” of Grand Rapids.

2006 Sales

2006
Number of Sales: 83
Average Time on Market: 72 days
Average Sale Price: $92,468
Median Sale Price: $92,900
Low/High: $35,000 – $155,000

2014 Sales

2014
Number of Sales: 83
Average Time on Market: 35 days
Average Sale Price: $80,876
Median Sale Price: $81,000
Low/High: $13,500 – $233,600

2015 Sales

2015
Number of Sales: 82 (As of 12/14/15)
Average Time on Market: 36 days
Average Sale Price: $91,873
Median Sale Price: $84,950
Low/High: $19,000 – $325,000