Forest Hills (Ada Cascade) MI Real Estate Absorption Report
Forest Hills is actually a school district in Ada - Cascade MI. This market
is always active. These Grand Rapids suburban communities have
wonderful neighborhoods, some new and some older with Top Ranked
Forest Hills Public Schools, and private schools, such as Ada Christian
& St Roberts that attract many home owners.
This report will cover the 2010 first quarter real estate market activity,
which we have broken down into 3 separate price categories, which
have very different markets emerging for 2010 totals.
Forest Hills MI Listings $ 500,000+
Not much demand and lots of time on the market in the higher price
brackets of Forest Hills with a 20 month Absorption Rate, which
means it would take 20 months for the current inventory to sell.
Active Listings - 100
Average List Price - $ 843,635
Pending - 8
Sold - 7
Average sold price: $ 893,857
Average Sold/Sq Ft: $207.93
Forest Hills MI Listings $250,001 - 499,999
The absorption rate for Forest Hills homes in this price
bracket is 7.4 months, which means if no new listings
come on the market, it will take 7.4 months to sell the
existing $250K-499K homes at the current rate of sale.
This rate is down significantly from 2009 rates, and sold
prices are inching upward. Inventory is up slightly, but
number of sales are holding fairly steady. We aren't back
to a normal market time of 3-6 months yet, but we are
heading in that direction.
Forest Hills MI Active Listings $250,000 - $499,999
Active Forest Hills Listings: 156
Average list price of $358,671
Sold Forest Hills Listings: 31
Average sold price $346,244
Average Sold price/sq ft $ 151.27
Pending Listings: 32
Forest Hills Active Listings $50,000 - $250,000
The Absorption rate for Forest Hills homes in this price range is 6.8
months, which means that if no new homes enter the market, at the
current rate of sales, it will take 6.8 months to sell all current inventory.
This is up from last quarter, but still within normal range, a fast moving
area of the Grand Rapids real estate market.
Forest Hills Active Listings 139
Average List Price $178,575
Sold Forest Hills Listings 61
Average Sold Price $ 181,467
Average Sold Price/sq ft $100.60
Pending Sales 55
Forest Hills RE Market Reports
Forest Hills Michigan Public Schools Face-lift 2009
If you would like specific information about an Ada Cascade or
Forest Hills MI Homes, please contact me directly.
Copyright 2009 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook
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The authors of the this blog write about Grand Rapids Real Estate,
the Greater Grand Rapids MI area, and what it is like to live in
West Michigan. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
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