Grand Rapids sellers reduce prices on 45% of homes, market moves faster than state

Nearly half of Grand Rapids, MI metro home sellers reduced asking prices during the week ending Nov. 14, 2025, while the market maintained its position as one of Michigan’s fastest-moving housing markets with homes selling 21 days quicker than the state average.

The aggressive pricing strategy appears to be working. The metro absorbed 189 homes during the week, up 14.5% from 165 homes during the same period last year. Properties sold in a median 42 days compared to 63 days statewide and 77 days nationally.

Price adjustments drive market velocity

Active listings with price reductions reached 44.9% in the Grand Rapids-Wyoming metro, while just 0.8% of sellers raised prices. The median list price held steady at $365,000, virtually unchanged from $364,950 a year ago.

Despite widespread price cuts, values remain elevated. The metro’s price per square foot hit $226.9, exceeding both the national average of $211.3 and Michigan’s $171.8. The pricing dynamics reflect a market where sellers are choosing strategic adjustments over extended listing periods.

Inventory constraints persist amid strong demand

Grand Rapids recorded 1,132 active listings with 160 new properties entering the market during the week. The metro’s months of supply stood at 1.5, well below Michigan’s 2.3 months and the national level of 2.7 months.

The relisting rate reached 6.5%, indicating most properties that leave the market do so through sales rather than withdrawals. The combination of limited inventory and rapid absorption rates continues to favor sellers despite the prevalence of price reductions.

Regional performance highlights speed advantage

The 42-day median days on market in Grand Rapids represents a significant competitive advantage within Michigan. Homes in the metro sell 33% faster than the state average and 45% quicker than the national pace.

Year-over-year comparisons show the market maintaining momentum. While median days on market increased from 35 days in 2024, the current pace remains well below broader market trends. The absorbed home count’s 14.5% annual increase demonstrates sustained buyer activity despite higher mortgage rates.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.