Forest Hills Michigan Absorption Report ~ East Village ~ March 2009

The East 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 by the 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,

this may be the place for you to call home.

Real Estate Market Report East Village March 2009

For Sale: 5

East Village Homes average list price: $ 490,720

East Village average price/sqft (main floor): $ 183.23

East Village average days on the market: 49 days

Pending:1

Sold: 3

East Village SOLD homes average price: $ 398,333

East Village SOLD homes average price/sqft: $140.94

East Village SOLD homes average days on market: 86 days

Expired: 3

East Village expired homes average price: $434,933

East Village expired homes average price/sqft: $177.02

East Village Homes are selling, if priced correctly. Buyers are

paying about $140/SqFt on the main floors, which is down from

last summer’s prices.

The absorption rate for East Village is 2.85 months, which means

if no new homes enter the marketplace, it will take 2.85 months

for the current home inventory to sell.

If you would like further information about East Village, Ada, or

Grand Rapids Homes, please contact me directly.

Grand Rapids Real Estate