Livonia and Grand Rapids are among the top 10 neighborhoods for attracting new home buyers, according to a new report by Realtor.com, with the west Michigan city grabbing the No. 1 spot. Livonia placed sixth on the list.
The median price of a home in Grand Rapids is $178,000, and properties spend about 10 days on the market before they are purchased.
The city’s Creston area is in high demand due to its location just above downtown Grand Rapids, numerous parks, the Kent Country Club, and good public schools. The inexpensive real estate also is a big draw for cost-conscious, first-time home buyers, according to the website.
“There’s a lot of cool, little communities in that area,” says real estate broker Michael Ross of Grand Rapids Realty. “It’s up-and-coming and growing.”
Danielle Hale, chief economist at Realtor.com, says, “Grand Rapids has a lot going for it. It’s super affordable. Younger buyers are coming in waves.”
In Livonia, the median price of a house is $254,959, and homes tend to stay on the market for around 17 days.
The website says Livonia is ideal for home buyers who enjoy the cultural amenities of Detroit, but don’t want to live in the city as it continues to undergo a resurgence. It describes the suburb as an “oasis of single-family homes with green lawns just 20 minutes from the Detroit Institute of Art and the historic Eastern Market. It’s also near many of the area’s employment hubs such as the Ford Motor Co. headquarters in Dearborn.”
“People are looking for more affordable places to live,” says Hale. “Last year we saw people moving to far-out suburbs of major cities. This year, we’re seeing people move to smaller metro areas, which are even less expensive. And they still get access to city life — just not in the biggest cities.”