Ranch Style Homes sell better than 2 Story Homes in the Grand Rapids Real Estate Marketplace
Statistics for the past year show 2714 ranch style homes (all on one floor) sold and only 1683 two story homes sold in the Grand Rapids Real Estate Market. (According to GRAR statistics between 100,000 – 400,000 in price). I am often asked which homes have the best resale and if you look at the stats for all homes sold in the Grand Rapids area – they look like this:
$100,000 – $400,000 Currently Listed on Entire MLS Sold in Past 12 Months in Entire MLS
Ranch Style Homes 2578 2714
Two Story Homes 1496 1683
Multi or Tri Level Homes 565 782
As you can see by the stats above the Ranch Homes sell by a greater margin than 2 story homes – and Multi or Tri Level Homes bring up the lower third of the market.
What is interesting about this is all real estate is local – each area and neighborhood has a unique breakdown of the style of home which sells the best and each price range has it’s own breakdown of styles which do best. Your Realtor will give you great advice about the area you are considering as far as what home styles sell the best – make sure you check with them if you are strictly buying for re-sale.
I am finding ranches are selling very well for the older crowd – and as the baby boomers age, I think we will be seeing more demand for the ranch style – mainly because everything is all on one floor and no steps are needed for either bedrooms or laundry facilities. Now, since I’m a baby boomer I will confess that I live in a ranch style home specifically for this reason.
Many of the two-story buyers I see are folks with young families who want the bedrooms upstairs. Multi and Tri Levels are higher in demand in areas where younger first time homebuyers are looking as they have great usage of all square footage and seem to be more contemporary.
The good news is there are plenty of home styles for anyone to choose from in this marketplace. As you saw from the stats above – there is almost a one year supply of homes on the market – so it’s a great time to buy. Give us a call if we can give you some advice on the marketplace in your neighborhood or help in finding that perfect home for you.