Grand Rapids Absorption Report Dec 2008 ~ Quail Crest Condos

Posted on December 31, 2008 by Terry & Bonnie

The Quail Crest Condo development is located west of Spaulding

and north of Burton Street in Cascade Township. There is an

entrance off Spaulding Avenue and off Burton Street. This condo

development was started in the late 1980’s and continued building

into the late 1990’s.

The condos are spacious with cathedral ceilings and many have

finished lower levels with extra bedrooms and baths. This area

has been very attractive for retirees, as they are close to all the

local amenities and shopping but no house maintenance. Forest

Hills Public Schools are the school district, Watermark Country Club,

Forest Hills & 28th Street shopping are a short distance away.

The miles of Cascade-Ada Bike/Walking Trail

connects to downtown Cascade, downtown Ada, and 28th St.

Quail Crest Condominiums Real Estate Market Report

December 2008

3 Sold, 10 For Sale, 5 Expired

Quail Crest Condos Active Listings: 10

Quail Crest Condos Average Active Price – $154,125

Quail Crest Condos Average Active Price/SqFt – $ 109.11

Quail Crest Condos Average Active days on market – 137

Quail Crest Condos Sold Listings: 3

Quail Crest Condos average sold price – $274,167

Quail Crest Condos average sold price/SqFt – $ 167.48

Quail Crest Condos average days on market – 89

Quail Crest Condos Expired Listings: 5

Quail Crest Condos average expired price – $202,160

Quail Crest Condos average price/SqFt – $ 147.35

Quail Crest Condos average days on market – 146

The absorption rate for Quail Crest Condos is 40 months, which

means if no new listings come on the market, it will take 40 months

for the current inventory of homes to sell at the current rate of sales.

This is very high for the Grand Rapids Market, which means either prices

are too high for today’s buyer, or there is a glut of condos on the market.

Quail Crest Condos Oct Market Report

Quail Crest Condos Sept Market Report

Quail Crest Condos July Market Report

Quail Crest Condos June Market Report

If you have further questions about Grand Rapids or

Cascade MI Condos, please contact me directly. We can

also have these monthly market reports emailed to your

inbox, just contact us.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

photo of Quail Crest Entrance by Bonnie Westbrook

Grand Rapids MI Absorption Report Dec 2008 ~ Forest Hills Gardens

Posted on December 30, 2008 by Terry & Bonnie

Forest Hills Gardens Residential Real Estate

Dec 2008 Market Report

4 Sold, 0 Pending, 1 For Sale

The absorption rate for Forest Hills Gardens is 3 months, which

means if no new listings come on the market it will take 3 months

for the existing inventory of homes to sell at the current rate of sale.

This is a fabulous rate in this market and the one home for sale

reflects the stability and desirability of the neighborhood.

Active Listings: 1

Average price is $ 164,900.

Average time on market is 76 days.

Average cost/SqFt is $90.50

The average price for Forest Hills Gardens sold homes is $162,475.

The average price/sqft for Forest Hills Gardens sold

homes is $ 96.47.

The average days on the market for Forest Hills Gardens sold

homes is 20 days.

The Ada area growth trends remain strong. Ada Township planner,

Jim Ferro states that the Ada population has grown by 20% since 2000.

There is a new proposed 80 condo units – Villas of Ada going in next

door and Stone Falls of Ada – a 210 unit apartment complex, currently

under construction a short distance away on Spaulding Ave.

Both of these new developments are quite close to Adacroft Commons

and Forest Hills Gardens.

If you have questions about Forest Hills or Ada homes,or

if you would like this market report emailed to your inbox,

please contact me directly.

Grand Rapids Ada Real Estate ~ Five Star Real Estate LLC

Japanese Maple photo by Bonnie Westbrook

Forest Hills Michigan Absorption Report Dec 208 ~ Ada Moorings

Posted on December 30, 2008 by Terry & Bonnie

Ada Moorings is located off Grand River Drive, just east of Ada

and close to Ada Township Park. A recent development by

Eastbrook Builders, these quality built homes are in Forest

Hills Public School District. Close to the village of Ada and not

far from the village of Cascade,this subdivision is near 28th

Street shopping, the Thornapple and the Grand Rivers.

Ada Moorings Market Report October 2008

7 For Sale, 9 Sold, 1 Expired

Ada Moorings Active Listings: 7

Ada Moorings average active price – $248,486

Ada Moorings average active price /SqFt – $ 126.50

Ada Moorings average days on market – 115

Ada Moorings SOLD Listings: 9

Ada Moorings average sold price – $ 243,322

Ada Moorings average sold price/SqFt – $ 125.69

Ada Moorings average sold days on market – 88

The Absorption Rate for Ada Moorings Homes is 9.3

months, which means if no new listings come on the

market it will take 9.3 months for the existing homes

to sell at the current rate of sales.

The average list price has dropped $20,000 in the last

quarter of the year, which means sellers are much closer

to the actual market price than they were before.

The average sale price has dropped about $4000.

Ada Moorings Market Report Oct 2008

Ada Moorings Market Report Sept 2008

Ada Moorings Market Report Aug 2008

Ada Moorings Market Report July 2008

Ada Moorings Market Report June 2008

If you would like further information about the value of your Ada or

Grand Rapids Home, please contact me directly.

Grand Rapids MI Real Estate – Five Star Real Estate

photo of the Grand River in Ada by Bonnie Westbrook

Grand Rapids MI Absorption Report Dec 2008 ~ Cascade Woods

Posted on December 29, 2008 by Terry & Bonnie

Cascade Woods is an established neighborhood of large, executive

style homes in Cascade Township, MI. Most of these homes were

built in the 1960’s and 1970’s, although there are a few newer

homes that were built recently in the area. Close to the village of

Cascade and the Thornapple River, this heavily wooded area has

been a Grand Rapids desired suburban place to live for decades.

Part of the Forest Hills School District, which draws many families,

there is also the river and it’s picturesque appeal. The drive down

Thornapple River Drive between Ada and Cascade in the fall is one

of the prettiest drives in the greater Grand Rapids area.

Cascade Woods Absorption Market Report

December 2008

9 Homes For Sale, 1 Pending, 11 SOLD, 24 Expired

Cascade Woods Active Listings: 9

Cascade Woods Active average price – $327,056

Cascade Woods Active average $/SqFt – $110.20

Cascade Woods Active average days on market – 92

Cascade Woods Sold Listings: 11

Cascade Woods average sold price – $249,073

Cascade Woods average sold $/SqFt – $ 110.37

Cascade Woods average sold days on market – 106 days

Cascade Woods Expired Listings: 24

Cascade Woods Expired average price – $290,591

Cascade Woods Expired average $/Sq/Ft – $ 122.50

Cascade Woods Expired average days on market – 178

The absorption Rate for Cascade Woods Homes is 10.8 months,

Which means if no new listings come on the market, it will take

10.8 months to sell the existing inventory. The average sold price

per SqFt and the Active listings Price /SqFt seem to be aligned. It could

be home condition which is slowing the sales in this area of older homes.

Today’s buyers do not want to do ANY updates, which includes painting,

new kitchens & baths, new flooring. If your Cascade Woods home hasn’t

sold, it is probably condition, which gets us back to price. If you don’t

want to improve your home, you won’t get the same price as people who

have updated and kept their home current.

Cascade Woods October 2008 Market Report

Cascade Woods September 2008 Market Report

Cascade Woods August 2008 Market Report

Cascade Woods July 2008 Market Report

Cascade Woods June 2008 Market Report

If you would like further information about Grand Rapids or

Cascade Homes, please contact me directly.

Grand Rapids -Ada Real Estate – Five Star Real Estate

photo of Leslie E Tassell Park on the Thornapple River by Bonnie Westbrook

Ada MI Absorption Report ~ Dec 2008 ~ AdaWoods Homes

Posted on December 29, 2008 by Terry & Bonnie

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

December 2008

6 Sold, 4 For Sale, 8 Expired

Ada Woods Active Listings: 4

Ada Woods Average Active Price – $ 332,425

Ada Woods Average Active Price/SqFt – $132.53

Ada Woods Average Days on Market – 149

Ada Woods SOLD Listings: 6

Ada Woods Average Sold Price -$ 313,567

Ada Woods Average Sold Price/SqFt – $121.37

Ada Woods Average Sold Days on Market – 119

Ada Woods Expired Listings: 8

Ada Woods Average Expired Price – $ 300,900

Ada Woods Average Expired Price/SqFt – $ 132.48

Ada Woods Average Expired Days on Market – 158

MARKET SYNOPSIS: As you can see by the numbers, average sold

price has lowered about $ 27,000. The average asking price has lowered

a tiny bit, 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

asking price.

If you don’t have your Ada Woods home priced about $ 120.00 a sq ft,

you will be waiting for a stronger sellers market to sell your home.

Ada Woods Market Report June 2008

Ada Woods Market Report July 2008

Ada Woods Market Report August 2008

Ada Woods Market Report Sept 2008

Ada Woods Market Report Oct 2008

Ada Woods Market Report Nov 2008

If you have any questions about Grand Rapids or Ada Homes,

please contact me directly.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Headley St in Ada Mi photo by Bonnie Westbrook

Grand Rapids MI Absorption Report ~ Jan 2009 ~ The East Village

Posted on December 29, 2008 by Terry & Bonnie

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 January 2009

For Sale: 7

East Village Homes average list price: $ 456,943

East Village average price/sqft (main floor): $ 166.49

East Village average days on the market: 29 days

Sold: 10

East Village SOLD homes average price: $ 464,900.

East Village SOLD homes average price/sqft: $161.71.

East Village SOLD homes average days on market: 86 days

Expired: 9

East Village expired homes average price: $441,933

East Village expired homes average price/sqft: $167.66

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

paying about $160/SqFt on the main floors.

The absorption rate for East Village is 8.4 months, which means

if no new homes enter the marketplace, it will take 8.4 months

for the current home inventory to sell. If you don’t need to sell

your East Village home now, I would recommend you take it

off the market. Overpriced homes are not selling.

East Village Market Report December 2008

Forest Hills Market Report November 2008

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

Grand Rapids Homes, please contact me directly.

Grand Rapids Ada Real Estate – Five Star Real Estate

photo of Ada Bike Trail by Bonnie Westbrook

Grand Rapids MI Absorption Report ~ Dec 2008 ~ The Watermark Residences

Posted on December 29, 2008 by Terry & Bonnie

The Residences at Watermark are located on Watermark Golf

Course just south of Cascade Road. If you don’t like golf,

get defensive when a stray golf ball rolls into your “yard” you

probably would be better off not buying a home or condo

at Watermark. Of course you would be missing out on the

best golf course in Grand Rapids (no prejudice here, just

the facts, folks)

Yes, I play Watermark golf course every chance I get. Watermark

is a premier course with a friendly group of players. We have an

excellent grounds staff and a great pro shop staff.

Watermark single family homes and condos make this a very attractive

place to live. Quality built homes with access off Cascade Road and

Spaulding Drive, you are close to the airport, 28th Street shopping,

I96 expressway and close to Cascade, Ada, and Forest Hills

schools and shopping areas.

Watermark Residences Entrance

Watermark Residences

December 2008 Real Estate Market Report

For Sale:

There are 8 active Watermark Homes currently on the market.

The average Watermark Homes current active price is $ 777,888.

The average Watermark Homes current price per sq ft is $ 230.96.

The average days on the market for active Watermark Homes is 84.

The high price is $ 2,700,000 and the low price is $ 179,800.

Sold:

There have been 6 Watermark Sold Homes this year.

The average Watermark Sold Homes price is $ 500,333.

The average Watermark Sold Homes price per sq ft is $191.68.

The average days on the market for Watermark Sold Homes is 71.

Pending: 1

At the current rate of sales, we have a 13.6 month supply of homes on

the market at the Watermark Residences.

If you would like further information about Watermark,

Cascade or Forest Hills Homes, please contact me directly.

Watermark Residences November 2007 Market Report

Watermark Residences October 2008 Market Report

Watermark Residences September 2008 Market Report

Watermark Residences August 2008 Market Report

Watermark Residences July 2008 Market Report

Watermark Residences June 2008 Market Report

Watermark Country Club ~ Pool Time

Grand Rapids – Ada Real Estate – Five Star Real Estate

photo of Watermark Residences Entrance by Bonnie Westbrook

Grand Rapids MI Absorption Report Dec 2008 ~ Tamarron Estates in Cascade Township

Posted on December 22, 2008 by Terry & Bonnie

Forest Hills Central HS Entrance

Tamarron Estates is an upscale suburban development with large

wooded lots, walking access to Thornapple Elementary School and

the Thornapple River Backwaters. It is located just off of

Thornapple River Drive and Cascade Road in Cascade Township.

The house styles vary from large, comfortable ranches, traditional

two stories, to contemporary homes. Many of the homes were built

in the late 1970’s to the mid 1980’s, though there is a new street

that has much newer homes on acreage settings. Some houses close

to and surrounding this development are in the upper price brackets

in the Grand Rapids real estate market.

Tamarron Residential Real Estate

December 2008 Market Report

5 Sold, 7 For Sale, 7 Expired

Tamarron Active Listings: 7

Tamarron Average Active Price – $ 500,329

Tamarron Average Active Price/SqFt – $ 137.25

Tamarron Average Active Days on Market – 138

Tamarron SOLD Listings: 5

Tamarron Average Sold Price – $ 339,480

Tamarron Average Active Price/SqFt – $ 98.11

Tamarron Average Sold Days on Market – 63

Tamarron Expired Listings: 7

Tamarron Average Expired Price – $ 265,629

Tamarron Average Expired Price/SqFt – $ 112.74

Tamarron Average Expired Days on Market – 124

234 homes have sold in Cascade Township in 2008

Average home selling price is $306,712

At the current selling rate, we have an Absorption rate of 16.8 months,

which means if no new listings come on the market, it will take 16.8 months

to clear the current supply of homes.

MARKET SYNOPSIS: Tamarron homes are selling but not at the prices that

some sellers would like to see. Today’s market is accepting homes under

$100.00 a sq ft. This is a price reduction for this area. As you can see,

most sellers think their homes will sell at $ 137 a sq ft. This isn’t happening.

Even the expired listings aren’t selling at $ 112.00 a sq ft. If you have to

sell your Tamarron Estates home now, be sure you are price competitively with

other properties on the market. Condition plays a large factor in these older

homes. If you haven’t updated, you aren’t going to get top dollar for your

home, the market place is telling you that you need to be at $ 100 a sq ft or

less to see your home sell.

Cascade Township has seen tremendous growth in the last fifty

years, though the growth rate has slowed considerably since 2000.

The majority (82%) live in a single family home, and the median

value is $220,00. Household incomes in Cascade Township are the

highest among surrounding Grand Rapids areas at $ 87,290. Most

people in Cascade Township prefer to live here because of the quality

housing, safe areas, and quality schools.

Tamarron Estates Market Report June 2008

Tamarron Estates Market Report July 2008

Tamarron Estates Market Report August 2008

Forest Hills Market Report Sept 2008

Tamarron Estates Market Report Oct 2008

Tamarron Estates Market Report Nov 2008

If you have questions about the value of your Cascade or Forest Hills

Home, please contact me directly.

Photo of Tamarron North Entrance by Bonnie Westbrook

Ada MI Absorption Report ~ Clements Mill ~ Dec 22, 2008

Posted on December 22, 2008 by Terry & Bonnie

Clements Mill is a newer home development built by EastbrookConstruction in the Ada MI area, started in 1999 and completed in2003. Apart from newer homes, part of the appeal is the proximityof Forest Hills Central Middle and High Schools, Forest Hills Woodlands 5/6 School, St Roberts & Ada Christian Schools, whichare within walking distance.Clements Mill is midway between the Village of Ada and Forest Hillsshopping area at Cascade Road and Forest Hills.Ada’s Clements Mill has seen steady to declining values in the shorttime it has been built out. This is largely due to the current overabundance of houses for sale in a soft resale market. Clements Mill Residential Real Estate Market Report December 2008

22 Sold, 2 Pending, 2 For Sale, 10 Expired The Absorption Rate for Clements Mill Ada Township MIis 1 month, which means if no new listings come on the market,it will take 1 month for the current homes inventory to sell atthe existing sales rate. Clements Mill Active Listings December 2008: 2Average Active Price: $182,400Average Active Price/SqFt: $105.12Average Active Days on Market: 230Clements Mill Sold Listings December 2008: 22Average Sold Price: $271,531Average Sold Price/SqFt: $122.07Average Days on Market: 116Clements Mill Expired Listings: 10Average Expired Price: $283,300Average Expired Price/SqFt: $ 131.99Average Expired Days on Market: 139 Clements Mill Market Report Nov 2008Clements Mill Market Report Sept 2008Clements Mill Market Report July 2008Clements Mill Market Report June 2008 The Ada area growth trends remain strong. Ada Township planner,Jim Ferro states that the Ada population has grown by 20% since2000. There is a new proposed 80 condo units – Villas of Adaand Stone Falls of Ada – a 210 unit apartment complex, currentlyopen & under construction here. The Stone Falls of Ada apartmentproject is adjacent to Clements Mill. Both are scheduled for completion by spring 2009 but are open for business now. If you have detailed questions about Ada Homes, Forest Hills Homes orjust need further information, please contact me directly.Grand Rapids Ada MI Real Estate Five Star Real Estate LLCCopyright 2008 All rights reservedAda Drive Walking Trail Photo by Bonnie Westbrook

Wyoming MI Absorption Report ~ Dec 15 2008

Posted on December 15, 2008 by Terry & Bonnie

Wyoming Michigan Real Estate Market Report

The Absorption Rate for Wyoming MI Homes is

7.3 months supply, which means that if no new

homes enter the market, it will take 7.3 months

to deplete the existing inventory of homes.

There are currently 161 Active Listings in

Wyoming.

Since July 1, 2008, there have been 133 SOLD

and Pending Wyoming MI Homes.

The high SOLD Price is $ 236,835, the low sold price is $ 53,000.

The average Sold Price is $ 96,754.

The average List Price is $ 100,627.

If you have questions about your Wyoming MI or Grand Rapids home,

please contact me directly.

Grand Rapids Ada Real Estate Five Star Real Estate

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: Grand Rapids Michigan Real Estate Market Reports

Grand Rapids Absorption Report Dec 2008 ~ Quail Crest Condos

Grand Rapids MI Absorption Report Dec 2008 ~ Forest Hills Gardens

Forest Hills Michigan Absorption Report Dec 208 ~ Ada Moorings

Grand Rapids MI Absorption Report Dec 2008 ~ Cascade Woods

Ada MI Absorption Report ~ Dec 2008 ~ AdaWoods Homes

Grand Rapids MI Absorption Report ~ Jan 2009 ~ The East Village

Grand Rapids MI Absorption Report ~ Dec 2008 ~ The Watermark Residences

Grand Rapids MI Absorption Report Dec 2008 ~ Tamarron Estates in Cascade Township

Ada MI Absorption Report ~ Clements Mill ~ Dec 22, 2008

Wyoming MI Absorption Report ~ Dec 15 2008

Wyoming Michigan Real Estate Market Report