Property prices for sale in Grand Rapids (Michigan)
The prices in real estate in Grand Rapids, in the Michigan region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Grand Rapids has increased strongly during the last 6 months. In November, the average price per sq.feet was $183. In the following month the price per sq.feet increased to $210. In the following two months the price per sq.feet has increased 113 %, going from $196.5 to $222 per sq.feet. The price per sq.feet has increased 109 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $209.25 to $229 during March, and April.
Based upon to the price in Grand Rapids (cities), this has gone up in the last 6 months. The average price during our first sample month during November, is $317,415. During December the price went through a considerable rise reaching $379,459. During the following two months (January, February) the average price fell 91 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 116 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $407,676 they are 38 % more affordable than the average price for Grand Rapids. The properties with the highest average price have 4 bedrooms, Their price is 18 % more costly than the average. After that we have properties with 3 bedrooms priced at $304,934.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $222 / sq.feet, with an average $232 / sq.feet price in Grand Rapids. The properties with the highest average prices have 1 bedroom. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at $254 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $407,676 it is 9 % cheaper than the average price in Grand Rapids. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of $632,660 it is 153 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $119 / sq.feet followed by "House" priced at $230 / sq.feet. "Land" is the most costly type of property with a $402,467 / sq.feet cost followed by "Townhouse" with an average price of $320 / sq.feet.
