Forest Hills (Ada Cascade) MI Real Estate Absorption Report

Forest Hills is actually a school district in Ada Cascade MI. This market

is always active. These Grand Rapids suburban communities have

wonderful neighborhoods, some new and some older with Top Ranked

Forest Hills Public Schools, and private schools, such as Ada Christian

& St Roberts that attract  many home owners.

This report will cover the Feb 1, 2009  to May 28, 2009 real estate

market activity.

          Forest Hills MI Listings over $300,000

The absorption rate for Forest Hills MI is 15.4 months, which means if no

new listings come on the market, it will take 15.4 months to sell the existing

$ 300K+ homes at the current rate of sale.  This rate is down from last

month, sold prices are still inching downward.  Inventory is ticking up, but

sales are holding fairly steady. Your Forest Hills home has a good chance

to sell if it is in good condition and priced correctly.

$300,000+ Homes

 224 Active Forest Hills Listings

Average price of $624,021

Average price/square foot $200.57

Low price of $300,000

High price of $2,700,000.

Sold Forest Hills Listings 36

Average sold price $486,649

Average Sold price/sq ft $ 163.25

Lowest sold price $300,000

Highest sold price $1,325,000

Pending Listings 22

Forest Hills Active Listings $100,000 – $300,000

The Absorption rate for Forest Hills homes in this price range is 6.5

months, which means that if no new homes enter the market, at the

current rate of sales, it will take 6.5 months to sell all current inventory.

Forest Hills Active Listings 211

Average Active  Price $212,745

Average Active Price/SqFt $119.75

Average Active Days on the Market  108

High Active Price $300,000

Low Active Price $104,900

Sold Forest Hills Listings 80

Average Sold Price  $193,493

Average Sold Price/sq ft $98.74

Average Sold Days on the Market 101 Days

High Sold Price  $300,000

Low Sold price is $100,000

Pending Sales 49

Market Synopsis: Although the absorption rate is one of the lowest in

the area, for the under 300K homes, this market area is still seeing

some reduction in sold price and price per sq ft.  With more active listings

coming on the market in the spring, this will not help current inventory

sell faster or for more money.

 

Forest Hills MI Top Best Buy Homes ~ May 2009

Forest Hills MI Top Best Buy Homes ~ April 2009

Ada Cascade Market Report March  2009

Forest Hills Michigan Public Schools Update 2009

 

If you would like specific information about an Ada Cascade or

Forest Hills MI Homes, please contact me directly:

email: terry@terrywestbrook.com

ph. 1-888-240-1968 x 0

Click here  ^ to subscribe to my Grand Rapids Blog

Grand Rapids Ada Real Estate  ~ Westbrook Realty

Copyright 2009  All rights reserved

Photo of Forest Hills Eastern High School by Bonnie Westbrook