A small neighborhood in Grand Rapids, Michigan with a population of 6,925 was recently recognized as the second most competitive real estate markets in the country.
Alger Heights is placed second only to White Oaks in San Carlos, California, real estate brokerage site Redfin says. Popular local businesses and a strong sense of community make Alger Heights a highly coveted area to call home.
Darryl Matthews, a real estate agent with The Lucas Howard Group at Keller William, said he is not surprised to see Alger Heights ranked at second place in real estate markets.
“Because (there are) so many different buyers and there’s so much competition to purchase a home at this price point … it makes sense that it’s number two in the nation,” Matthews said about Alger Heights. “It makes sense for a lot of first-time homebuyers moving or migrating to West Michigan and Kent County.”
Just go down to any street in the neighborhood and you will struggle to find any homes with for sale signs in the front yard. Most are sold less than week after going on the market.
Matthews said the place is great for sellers. They are making close to 30% more on their listings because there is so much competition. For a buyer, just realize you’re buying it at a premium but you have so many positives here in the neighborhood, it’s worth it.
The neighborhood is situated minutes from downtown with easy access to US-131 and I-96 and walking distance to most anything else.
Both of those corridors put you 15 minutes away from anywhere. And the walkability, you have shops, restaurants and breweries. The place offers a dense suburban feel.
Matthews noted: “If you want to be closer to the shopping or if you want to be closer to the school, that’ll narrow down your search a bit. Above all, stay focused and don’t feel like you’re hitting a brick wall by making multiple offers. It takes time.”