Grand Rapids MI Absorption Report Dec 2008 ~ Forest Hills Gardens

Forest Hills Gardens Residential Real Estate

Dec 2008 Market Report

4 Sold, 0 Pending, 1 For Sale

The absorption rate for Forest Hills Gardens is 3 months, which

means if no new listings come on the market it will take 3 months

for the existing inventory of homes to sell at the current rate of sale.

This is a fabulous rate in this market and the one home for sale

reflects the stability and desirability of the neighborhood.

Active Listings: 1

Average price is $ 164,900.

Average time on market is 76 days.

Average cost/SqFt is $90.50

The average price for Forest Hills Gardens sold homes is $162,475.

The average price/sqft for Forest Hills Gardens sold

homes is $ 96.47.

The average days on the market for Forest Hills Gardens sold

homes is 20 days.

The Ada area growth trends remain strong. Ada Township planner,

Jim Ferro states that the Ada population has grown by 20% since 2000.

There is a new proposed 80 condo units – Villas of Ada going in next

door and Stone Falls of Ada – a 210 unit apartment complex, currently

under construction a short distance away on Spaulding Ave.

Both of these new developments are quite close to Adacroft Commons

and Forest Hills Gardens.

If you have questions about Forest Hills or Ada homes,or

if you would like this market report emailed to your inbox,

please contact me directly.

Japanese Maple photo by Bonnie Westbrook

Grand Rapids Real Estate