Forest Hills Michigan Real Estate Market Report Jan-Dec 2010

Forest Hills Michigan Real Estate Market Report Jan-Dec 2010

Forest Hills is actually a school district in Ada–Cascade MI real

estate market that is always active. These 2 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 2010 real estate market activity.

ar122417327049208 Forest Hills Michigan Real Estate Market Report Jan–Dec 2009

Forest Hills MI 2010 Market Report:

Active Listings – 403

Median Sold Price – $ 219,975

Pending – 68

Sold – 589

DOM – 64

% Sale Price to List Price – 95.38%

Absorption Rate: 7.3 Months

Please bear in mind that this report is all about averages.

It will probably take a $700K home longer to sell than one listed

at $199K.  Even though there are many multi-million dollar homes

in this district, the majority of homes are under $400K and with the

median sold price under $220K, you can see where all the activity

is centered.

The Absorption Rate at 7.3 months means that it will take about 7

months for the current inventory of homes to sell, if selling at the

current rate.  This is still a Buyer’s Market and until the shadow

inventory is dealt with, looks like it will be for quite some time. 

If you are thinking about selling your home, waiting will only

see more homes come on the market [spring season & pending

foreclosures] which will force prices further downward.  Experts tell

us that a market like we had in 2005-2006 is probably 10+ years away.

 

Additional Forest Hills Articles:

Forest Hills Real Estate Market Reports

Forest Hills District Ranks Top in State

Forest Hills District Posts MEAP Scores

 

If you would like specific information about an Ada Cascade or

Forest Hills MI Homes, please contact me directly.

Copyright 2011  All rights reserved

Photo of Forest Hills Eastern High School 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. Grand Rapids Michigan is a vibrant, growing metropolitan

area with a diverse business community, great medical research & services,

numerous universities, plus lively arts and entertainment of all kinds.

We believe: Grand Rapids is a Great Place to Live!

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Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

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