The East/West Village subdivision off Ada Drive in Ada Township is
a fairly new development. The new housing construction started in 2005
and is still continuing to date. You can buy a resale home or a new home
in this centrally located housing development. Near both public and
private schools, East Village is also close to Forest Hills and 28th
Street shopping areas. The Ada Bike or Walking Trail also connects
this area on Ada Drive with the village of Ada, Grand Rapids, and the
village of Cascade.
East Village is also close to the I96 expressway for easy access to many
different parts of our greater Grand Rapids area. Large, executive style
homes with many amenities and extras are the rule in this neighborhood.
If you would like to start with a brand new house in Forest Hills,
this may be the place for you to call home.
Real Estate Market Report East-West Village Jan-Dec 2009
For Sale: 4
East Village Homes average list price: $ 462,450
East Village average price/sq ft (main floor): $ 159.36
East Village average days on the market:112 days
Pending Sales : 1
Sold Homes : 6
East Village SOLD homes average price: $ 413,983
East Village SOLD homes average price/sq ft: $146.43
East Village SOLD homes average days on market: 99 days
Market Synopsis: East -West Village Homes are selling, if priced correctly.
Buyers are paying from $115-160/SqFt on the main floors, which is down from
last summer's prices. New construction is priced higher, so an existing
home should be priced lower per square foot than a new one.
The absorption rate for East -West Village is 8 months, which means
if no new homes enter the marketplace, it will take 8 months
for the current home inventory (4) to sell. This is high for the Ada - Forest
Hills area, it reflects the higher prices of the homes, even though
they are located in Forest Hills. Higher priced homes are slow movers
on today's market due to buyer's jitters about further market devaluation.
Additional Articles about Ada & Forest Hills, MI
If you would like further information about East or West Village, Ada, or
Grand Rapids Homes, please contact me directly.
photo of Ada Bike Trail by Bonnie Westbrook
|Share this post :|
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!
Contact Terry 616-292-7263