Cascade Neighborhood Absorption Report
Tamarron Estates is an upscale suburban development with large
wooded lots, walking access to Thornapple Elementary School and
the Thornapple River Backwaters. It is located just off of
Thornapple River Drive and Cascade Road in Cascade Township.
The house styles vary from large, comfortable ranches, traditional
two stories, to contemporary homes. Many of the homes were built
in the late 1970's to the mid 1980's, though there is a new street
that has much newer homes on acreage settings. Some houses close
to and surrounding this development are in the upper price brackets
in the Grand Rapids real estate market.
Tamarron Residential Real Estate
Jan-Dec 2009 Market Report
2 Sold, 3 For Sale, 13 Expired
Tamarron Active Listings: 3
Tamarron Average Active Price - $ 346,600
Tamarron Average Active Price/SqFt - $ 98.06
Tamarron Average Active Days on Market - 68
Tamarron SOLD Listings: 2
Tamarron Average Sold Price - $ 202,000
Tamarron Average Sold Price/SqFt - $ 79.07
Tamarron Average Sold Days on Market - 66
Tamarron Expired Listings: 13
Tamarron Average Expired Price - $ 472,638
Tamarron Average Expired Price/SqFt - $ 142.86
Tamarron Average Expired Days on Market - 143
At the current selling rate, we have a 18.7 month supply of homes
on the market in Tamarron Estates in Cascade Township.
MARKET SYNOPSIS: Tamarron homes are selling but not at the
prices that sellers would like to see. Today's market is accepting
homes under $100.00 a sq ft. This is a substantial price reduction for
this area. As you can see, the expired sellers think their homes
will sell at $ 130-150/sq ft. The two homes that have sold since
January might be distressed sales or foreclosed homes. List prices
have been reduced but not to a realistic price for buyers, as
evidenced by the 13 homes that expired.
The Absorption rate of 18.7 months is high for the Forest Hills area.
If you have to sell your Tamarron Estates home now, the market
place is telling you that you need to be around $100 a sq ft and
in good condition to see your home sold successfully.
Forest Hills Michigan Real Estate Market Reports 2009
If you have questions about the value of your Cascade or Forest Hills
Home, please contact me directly: terry@terrywestbrook.com or
call me at 1-888-240-1968 ext 0
Photo of Leslie Tassell Park by Bonnie Westbrook
_____________________________________________
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
________________________________________________________
Thanks for the local update this morning
Harry, It is our biggest area of interest in our market.