Cascade Woods is an established neighborhood of large, executive
style homes in Cascade Township, MI. Most of these homes were
built in the 1960's and 1970's, although there are a few newer
homes that were built recently in the area. Close to the village of
Cascade and the Thornapple River, this heavily wooded area has
been a Grand Rapids desired suburban place to live for decades.
Part of the Forest Hills School District, which draws many families,
there is also the river and it's picturesque appeal. The drive down
Thornapple River Drive between Ada and Cascade in the fall is one
of the prettiest drives in the greater Grand Rapids area.
Cascade Woods Absorption Market Report
March 2009
8 Homes For Sale, 0 Pending, 4 SOLD, 12 Expired
Cascade Woods Active Listings: 8
Cascade Woods Active average price - $285,025
Cascade Woods Active average $/SqFt - $112.48
Cascade Woods Active average days on market - 119
Cascade Woods Sold Listings: 4
Cascade Woods average sold price - $142,500
Cascade Woods average sold $/SqFt - $ 61.80
Cascade Woods average sold days on market - 80 days
Cascade Woods Expired Listings: 12
Cascade Woods Expired average price - $386,650
Cascade Woods Expired average $/Sq/Ft - $ 135.77
Cascade Woods Expired average days on market - 187
The Absorption Rate for Cascade Woods Homes is 4 months,
Which means if no new listings come on the market, it will take
4 months to sell the existing inventory. The average sold price
per SqFt is half of the Active listings Price /SqFt. It could reflect
foreclosures and homes in poor condition that have sold over
the last 7 months.
Or it could be home condition which is slowing the sales of
older homes in this area. You can see that the expired listings
had their homes priced $100K over the average list price.
Will the spring market see an uptick in prices paid for Cascade
Woods homes?
Today's buyers do not want to do ANY updates, which includes
painting, new kitchens & baths, new flooring. If your Cascade
Woods home hasn't sold, it is probably condition, which gets
us back to price. If you don't want to improve your home, you
won't get the same price as people who have updated and kept
their home current according to recent trends.
Cascade Woods December 2008 Market Report
If you would like further information about Grand Rapids or
Cascade Homes, please contact me directly.
Grand Rapids -Ada Real Estate - Westbrook Realty
Copyright 2008 All rights reserved
photo of Leslie E Tassell Park on the Thornapple River 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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Terry,
What I appreciate about your post is your analysis. It's useful! "The average sold price per SqFt is half of the Active listings Price /SqFt." That's a perspective I hadn't thought to use in my market. Thank you!
Mike in Tucson
Terry, Great insight and information for both home buyers and sellers in your area. 4 months is actually excellent. We have 35 months here! Good advice about the condition of the home as well.
Terry, Excellent analysis - it is obvious to me you know the area very well - useful info for property owners, Karen
Mike: We do get good comments from the public on the analysis. Thanks for the comment.
Diane: We try to do small segments of the market and some areas are doing Ok.
Karen: Thanks for stopping by. Our goal is to provide useful information so sellers and buyers can use it.
Terry, it is so true that today's buyer does not want to do updates. Only if they are buying a distressed property for waaaay below market value. I don't see any changes in this buying stradegy in the near future. Families are just too busy to find time for doing major home improvements themselves.