Ada Woods is an established development of homes in Ada, Michigan,
just west of Ada and south of Fulton Street (M46). Ada Woods started
out as an E.L. Ladd development, but towards the end of the project
many lots were sold to other builders and completed by individual owners.
The dates of building range from 1980’s to 2005. Most of the homes
have more square footage and more amenities than Adacroft Commons,
its adjacent neighborhood. As with Adacroft Commons, there is designated
common land in the development that remains heavily wooded and in a
natural state. This development is in the Forest Hills School System and
close to several private schools.
Ada Woods Real Estate Absorption Report
February 2009
7 Sold, 3 For Sale, 9 Expired
Ada Woods Active Listings: 3
Ada Woods Average Active Price – $ 325,933
Ada Woods Average Active Price/SqFt – $130.94
Ada Woods Average Days on Market – 121
Ada Woods SOLD Listings: 7
Ada Woods Average Sold Price -$ 306,079
Ada Woods Average Sold Price/SqFt – $117.76
Ada Woods Average Sold Days on Market – 127
Ada Woods Expired Listings: 9
Ada Woods Average Expired Price – $ 319,678
Ada Woods Average Expired Price/SqFt – $ 135.51
Ada Woods Average Expired Days on Market – 162
The Absorption Rate for Ada Woods Homes is 6 months, which
means that if no new listings come on the market, it will take
6 months at the current rate of sales to sell the existing homes
inventory.
MARKET SYNOPSIS: The average sold price has lowered about
$ 7,000 since December 2008. The average asking price has
lowered about the same, but not enough to get buyers off the fence.
The expired number is up which tells me that some sellers have
given up trying to get their higher asking price.
If you don’t have your Ada Woods home priced below $ 120.00 a sq ft,
you will be waiting for a stronger sellers market to sell your home.
Ada Woods Market Report August 2008
Ada Woods Market Report Sept 2008
Ada Woods Market Report Oct 2008
Ada Woods Market Report Nov 2008
Ada Woods MI Market Report Dec 2008
If you have any questions about Grand Rapids or Ada Homes,
please contact me directly through my web site.
Grand Rapids MI Real Estate – Westbrook Realty
Copyright 2008 All Rights Reserved
Headley St in Ada Mi photo by Bonnie Westbrook