ADA MICHIGAN MARKET REPORT
As you can see in the graph below, the sales activity has remained constant
and even the cost per square foot has stayed relatively steady for the last few
years in Ada homes. Even with this good news, the same story as in other local
areas, the downside is inventory. Currently we have 175 homes for sale.
We have enough inventory to last one year if no one else decides to list their
home and put it on the market.
For the consumer, this means: Buyers are in the driver's seat.
Hardly a news flash, but if you have been considering a move to Ada and
thought you couldn't afford it, think again. Even if you can't get as much out
of your home as you would like to, the good news is that a move to Ada
Township will cost you almost the same as it would have 3 years ago.
Historically, we know this current trend will not last. Home prices will rise
and hopefully, you won't have missed your opportunity to live in this wonderful
community at a competitive price. No one knows when this market will hit bottom
and start the climb up. Ideally, you want to catch it going down, NOT UP!
Sales activity for Ada Township 2004 to 2007 Year to Date
Ada Homes currently on the market 175
2004 Ada Township Homes Sold 177
Avg sold price $ 323,926
Avg Cost /SqFT Main Floor $141.00
2005 Ada Township Homes Sold 173
Avg Sold Price $ 318,574
Avg Cost/SqFt $ 139.00
2006 Ada Township Homes Sold 170
Avg Sold Price $ 346,224
Avg Cost/SqFt $147.00
2007 AdaTownship Homes Sold 132 (through 10/31/07)
Avg Sold Price $ 334,878
Avg Cost /SqFt $ 144.00
If you have any questions about the value of your Ada Home, please
contact me directly.
Grand Rapids Ada Real Estate ~ Five Star Real Estate
photo of Thornapple River 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!
Contact Terry 616-292-7263