Join Steve Volkers of the Steve Volkers Group at Five Star in this informative episode as he provides a comprehensive update on the current state of the real estate market. Steve discusses recent developments, the impact of low inventory, rising interest rates, and the potential for market stabilization. With over 17 years of experience, Steve offers valuable insights for both buyers and sellers, emphasizing the importance of being proactive in today's dynamic market. Don't miss this episode for expert analysis and valuable tips to navigate the ever-changing real estate landscape.

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Are you waiting for interest rates to drop before making a move in the real estate market? The August market data report from Steve has some eye-opening insights. Discover if that waiting game could actually be costing you money in the long run. Plus, dive into the impact of the ongoing inventory shortage on prices and the potential benefits of renting out your current home. Don't miss out on these valuable tips and trends!

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In his latest video, Steve shares insights on the current state of the real estate market. Are we seeing the beginning of the "new normal"? While prices remain stable, sales and transactions have decreased by 17-20% compared to previous years. He looks at who’s currently moving… first-time homebuyers, first-time sellers, and second-time buyers. 

There is a high demand for homes priced between $250,000 and $350,000, but there is a scarcity of available properties, causing buyer fatigue and a growing interest in renting. Sellers looking to upgrade face challenges due to limited inventory and rising prices in areas like Rockford and Forest Hills. Without an increase in available properties, the market may continue to experience declining sales and a rise in rental market activity. 

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What are we seeing in the market this month? In June we're focusing on the total sales for the year, or lack thereof, and what that means for buyers, sellers, and agents in our area. So there's a little something for everyone in this month's Market Data Report!

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Are buyers fickle right now? Get all the details in this month's Grand Rapids Area Real Estate Report!

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This month's mantra for buyers is "Don't get discouraged". The lack of housing inventory in our area means that the market remains competitive. But as you'll see it's not quite as bad as last March when homes were selling at 5% above list price...this year March sales prices are, on average, selling 1.6% above list price. For sellers, homes are continuing to sell quickly but again not quite in the same frenzy as this time last year.

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What's the bigger driver of the state of our current real estate market...interest rates or inventory? Find out that and much more in this month's Grand Rapids Area Real Estate Report w/ Steve Volkers

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You don't want to miss this month's real estate report from Steve Volkers! There's lots of great information here whether you're in the market to buy or sell, an agent, or even as a lender.  Sales were down last year by almost 2000 units at just over 10k, you have to go all the way back to March of 2013 to find the last time there was this level of units sold...will that trend continue? Also looking at the median sales price we see that it's looking like we're still going to get the spring price bump...so if you're looking to buy now can be an excellent time to get started and avoid paying the premium we'll see starting in April and May.

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This month Steve is recapping 2022 and looking forward to what 2023 may bring for the Grand Rapids area real estate market.

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Have we been in a real estate market bubble? Did that bubble burst or is it just deflating? Find out that and much more in Steve Volkers' market data insights for November/December.

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