Forest Hills Real Estate Market 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 prestigious
Forest Hills Public Schools, and private schools, such as Ada
Christian that attract many homeowners.
This report will cover the Sept 1 to Dec. 18, 2008 real estate market
activity.
Forest Hills MI Listings over $300,000
The absorption rate for Forest Hills MI is 14.95 months, which means
if no new listings come on the market, it will take 14.95 months to sell the
existing homes at the current rate of sale.
There are 228 Active Forest Hills Listings in the over $300,000
category with an average price of $667,231. The Active Listings have been
on the market for an Average of 158 Days. The Average price per square
foot of Active Listings is $205.66 with a low price of $300,000 & a high
price of $2,700,000.
There have been 68 Sold Forest Hills Listings in the over $300,000
category with an Average price of $475,118. The Average Sold price per
square foot is $ 161.62 with Average Days on the Market at 122. The lowest
sold price is $319,000 & the highest sold price is $785,000. There are 24
Pending Forest Hills Listings in this category.
Forest Hills Listings $100,000 to $300,000
The Absorption rate for Forest Hills homes in this price range is 8.1
months, which means that if no new homes enter the market, at the
current rate of sales, it will take 10.9 months to sell all current inventory.
There are 202 Forest Hills Active Listings in Ada -Cascade with an
Average Price of $209,692.
The Average Active Price per Sq Ft is $120.82
and the Average Active Days on the Market are 115.
The High Active Price is $300,000 and the Low Active Price is $109,900.
There have been 74 Sold Forest Hills Listings in the last 4 months. The
Average Sold Price is $194,174 with the Average Sold Price per square foot
at $106.64. Average Sold Days on the Market is 121 Days. The high Sold
price is $299,900 & the low sold price is $104,500. There are 25 Pending
Sales in this category.
Market Synopsis: Although the absorption rate is one of the lowest in
the area, for the under 300K homes, there seems to be a disconnect
between sellers and buyers price expectations.
Average list price has risen, while average sold price has lowered in this
price category. If you have your home listed, you just might be chasing
the market down. This is not an effective way to market and sell your home.
Average Sold prices for the over 300K price group has fallen about $20K
since last month.
If you find yourself in this category, you will need to price your home for
the buyers market we are currently in. Overpricing the market is a huge
mistake. If you don’t need to sell, please consider taking your home off the
market, now is not the time to test the waters.
Ada Cascade Market Report October 2008
Ada Cascade Market Report Sept 2008
If you would like specific information about an Ada Cascade or
Forest Hills MI Home, please contact me directly.
Grand Rapids Ada Real Estate Five Star Real Estate LLC
Copyright 2008 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook
Adacroft Commons Active Listings: 0Adacroft Commons Active Price – $Adacroft Commons Active Price/SqFt – $Adacroft Commons Active Days on Market – Adacroft Commons SOLD Listings: 9Adacroft Commons average sold price – $ 165,222Adacroft Commons average sold price/SqFt – $97.49Adacroft Commons average sold days on market -78 Adacroft Commons Expired Listings: 10Adacroft Commons average expired price – $ 186,410Adacroft Commons average expired price/SqFt – $ 134.36Adacroft Commons average days on market – 110 There are no current homes for sale in Adacroft Commonslisted on the local MLS board. This is an extremely desirable areato live, with its close proximity to Forest Hills Central Middle &High Schools. In the above stats you can see the $20,000disconnect between sellers and buyers, or $36 /SqFt. on themain floor. If you would like to sell in this market, you have tobe priced at the current market price, not 2004 prices, IF you wantto sell your home. 
