Wyoming Michigan Absorption Report ~ March 2009

Posted on March 30, 2009 by Terry & Bonnie

Current Wyoming Michigan Real Estate Market

The Absorption Rate for Wyoming MI Homes is

7 months supply, which means that if no new

homes enter the market, it will take 7 months

to deplete the existing inventory of homes.

house for sale picture

There are currently 138 Active Listings in

Wyoming, Michigan.

Since Oct 1, 2008, there have been 117 SOLD

and Pending Wyoming MI Homes.

The high SOLD Price is $ 175,000 the low sold price is $ 50,000.

The average Sold Price is $ 87,828

Average Sold Price /Sq Ft is $75.95

The average List Price is $ 100,996

Average List Price/Sq Ft $ 92.99

Market Analysis: Wyoming homes continue to sell and the

absorption rate is fairly low for the Grand Rapids Area.

The bad news is that home prices continue to decline, going

down another 10% on average since December 2008.

Inventory is going down and this might drive prices up again.

If you are considering buying a Wyoming home, now is the

time. I believe we have hit bottom on the market this winter

and spring and summer will see decreased inventory and

less selection. This usually brings prices up.

If you have questions about your Wyoming MI or Grand Rapids

home, please contact me directly.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Forest Hills Michigan Absorption Report ~ March 2009

Posted on March 29, 2009 by Terry & Bonnie

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 Sept 1, 2008 to March 29, 2009 real estate

market activity.

Forest Hills Eastern High school Ada Township MI

Forest Hills MI Listings over $300,000

The absorption rate for Forest Hills MI is 18.9 months, which means if no

new listings come on the market, it will take 18.9 months to sell the existing

homes at the current rate of sale. This rate is up from last month, sold

prices are about the same. 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.

There are 224 Active Forest Hills Listings in the over $300,000 category with

an average price of $628,678. The Average price per square foot of Active

Listings is $201.55 with a low price of $300,000 & a high price of $2,700,000.

There have been 69 Sold Forest Hills Listings in the over $300,000 category

with an Average price of $491,382. The Average Sold price per square foot is

$ 163.75. The lowest sold price is $309,900 & the highest sold price is

$1,325,000. There are 14 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 8.56

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

current rate of sales, it will take 8.56 months to sell all current inventory.

There are 197 Forest Hills Active Listings with an Average Price

of $214,962. The Average Active Price/SqFt is $120.32 and the

Average Active Days on the Market are 123. The High Active Price is

$300,000 and the Low Active Price is $104,900.

There have been 124 Sold Forest Hills Listings in the last 7 months. The

Average Sold Price is $193,873 with the Average Sold Price per square foot

at $102.24. Average Sold Days on the Market is 109 Days. The high Sold

price is $299,900 & the low sold price is $104,500. There are 37 Pending

Sales in this category.

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.

Ada Cascade Market Report December 2008

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 Homes, please contact me directly.

Click here ^ to subscribe to my Grand Rapids Blog

Grand Rapids Ada Real Estate ~ Westbrook Realty

Photo of Forest Hills Eastern High School by Bonnie Westbrook

East Grand Rapids Absorption Report ~ March 2009

Posted on March 29, 2009 by Terry & Bonnie

Current Real Estate Market Report For East Grand Rapids Michigan

East Grand Rapids MI Public Library

march 2009 Absorption rate for East Grand Rapids MI housing

market is currently at 11.66 months, which means if no new listings

come on the East Grand Rapids market, it will take 11.66 months

for the existing home inventory to sell.

There are 154 active listings on the East Grand Rapids market now,

ranging from $109,899 to $2,039,000.

18 Pending Home Sales w/ prices ranging from $ 99,900 to $ 2,495,000.

75 Sold Homes with sold prices ranging from $ 25,000 to $ 912,500

since Sept 1, 2008 in the East Grand Rapids housing inventory.

The lower end of this market (under $300K) has seen 2/3 of the sales

in the last seven months. Since this market has such a wide range of

home prices, it is difficult to analyze. The higher priced listings are

selling, as well as the bargains below $100,000. The lowest priced

listing is now over $ 100,000 which we haven’t seen for over 6 months

here in the East Grand Rapids housing market.

East Grand Rapids December 2008 Absorption Report

If you have any questions about the value of your East GR home,

please contact me directly.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Photo of East Grand Rapids Public Library by Bonnie Westbrook

Lowell Michigan Absorption Report ~ March 2009

Posted on March 29, 2009 by Terry & Bonnie

Lowell Michigan Real Estate Market Report ~ March 2009

Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.

It has really grown in the last 20 years, in many ways. Lowell has a great

school system, a thriving business community, a lively arts society, and

is one of the best kept secrets in Kent County.

These are the statistics for home sales in the Lowell School District.

Lowell Michigan Absorption Report March 2009

Active Listings: 152 Active Listings

Average Price: $259,353

Price per Sq Ft: $128.58 (Main Floor only)

Average days on the Market: 93

PENDING: 20 homes

SOLD: 55 Sold Homes

Average Price: $ 131,478

Average Price Per Sq Ft: $ 78.63 (Main floor only)

Average Days on the Market: 47

Expired: 43 Expired listings

Average Expired Price: $216,756

Average Price Per Sq Ft: $132.56 (Main floor only)

Average Days on the Market: 109

Absorption Rate for Lowell Listings is 14.2 months for the

current housing inventory. If no other homes enter the market, it

will take 14.2 months for the current homes to sell at the current

rate of sales.

Lowell Homes that are priced competitively are selling and selling

fairly quickly compared to the greater Grand Rapids area.

As you can see by the statistics, the homes that have their price

per square foot under $80 are seeing the most activity. There are

quite a few foreclosure or short sale homes which are bringing

down the average sales price and square footage rates lower than

they might normally be.

Some sellers have retired from the market and will try again soon,

filling an already saturated market.

They might find a better buying market, but prices are

still on the downward trend. Today’s buyer is looking for a

well priced bargain in great condition.

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Forest Hills Michigan Real Estate Market Report ~ Adatowne ~ March 2009

Posted on March 27, 2009 by Terry & Bonnie

Adatowne is a popular entry level home market in the Ada area of

the Greater Grand Rapids metropolitan area.

Part of the appeal is the proximity of Ada Elementary, Forest Hills

Central Middle and High Schools, Ada Christian Schools, St Roberts

School and being close to the village of Ada. Adatowne is an

established subdivision, started in the early 1970’s by E.L. Ladd

Builders of Ada.

I have held many open houses in these new plats

and sold many of the homes as new construction – to be built.

If you doubt the power of your home as an investment, a basic

ranch (about 1000 sq ft) sold for $ 19,900 in 1975.

Adatowne Residential Neighborhood in Ada, Michigan

March 2009 Real Estate Market Report

4 Sold, 3 Pending, 3 For Sale

Adatowne Active Listings: 3

Adatowne Average Active price – $158,433

Adatowne Active average price/SqFt – $105.14

Adatowne Active average days on market – 51

Adatowne Pending: 3

Adatowne Sold Listings: 2

Adatowne Average Sold Price – $ 119,000

Adatowne Average sold price/SqFt – $ 91.00

Adatowne Average Sold days on market – 40

MARKET SYNOPSIS: Absorption Rate for Adatowne is 4.2 months,

which means it would take 4.2 months for the 3 active listings to sell,

if no other homes entered the market, according to current sales

statistics. The price per square foot here really tells the story: Active

listings are averaging $ 105/sqft and sold are averaging $ 91/sqft.

With the new trend of consumers downsizing and the popularity of

Forest Hills Schools, the real estate market should remain strong

and viable for Adatowne homes, as long as they are in "great

condition" and priced at less than $100 sq ft.

If you would like more information about Ada or Grand Rapids

Homes, please feel free to contact me directly.

Adatowne Market Report Sept 2008

Adatowne Market Report Jan 2009

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Photo of Ada MI walking path by Bonnie Westbrook

Forest Hills Michigan Absorption Report ~ Cascade Woods ~ March 2009

Posted on March 25, 2009 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.

Leslie E Tassell Park Cascade Township MI

Cascade Woods Absorption Market Report

March 2009

8 Homes For Sale, 0 Pending, 4 SOLD, 12 Expired

Cascade Woods Active Listings: 8

Cascade Woods Active average price – $285,025

Cascade Woods Active average $/SqFt – $112.48

Cascade Woods Active average days on market – 119

Cascade Woods Sold Listings: 4

Cascade Woods average sold price – $142,500

Cascade Woods average sold $/SqFt – $ 61.80

Cascade Woods average sold days on market – 80 days

Cascade Woods Expired Listings: 12

Cascade Woods Expired average price – $386,650

Cascade Woods Expired average $/Sq/Ft – $ 135.77

Cascade Woods Expired average days on market – 187

The Absorption Rate for Cascade Woods Homes is 4 months,

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

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

per SqFt is half of the Active listings Price /SqFt. It could reflect

foreclosures and homes in poor condition that have sold over

the last 7 months.

Or it could be home condition which is slowing the sales of

older homes in this area. You can see that the expired listings

had their homes priced $100K over the average list price.

Will the spring market see an uptick in prices paid for Cascade

Woods 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 according to recent trends.

Cascade Woods December 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

Top Buys Waterfront Homes ~ Kent County Michigan March 2009

Posted on March 25, 2009 by Terry & Bonnie

Current market conditions have brought home prices down to levels we haven’t

seen in several years. All price levels and amenities have been affected.

Now may be a great time to purchase a Waterfront Home.

I have included a list of over 10 homes in Kent County Michigan in the

$200,000 to $300,000 price range with private water frontage.

Grand River Ada Michigan

MLS# Address Price

736193 8820 60th St 209,900

747019 7744 Thornapple Bayou Dr 235,000

731690 7720 Thornapple Drive SE 259,900

734853 2474 Grand River Dr NE 274,900

738877 3001 Thorncrest Dr SE 275,000

731411 7349 Kilmer Dr SE 275,000

734203 61 Honeycreek Ave NE 279,900

747116 3683 Jupiter Ave NE 289,900

742964 9101 Parmeter Ave NE 295,000

746525 472 9 Mile Rd NE 299,900

If you are eligible for a first time buyer tax credit, buying this home could

be less than you think.

The above link will take you to an explanation of the 2009 tax credit and some

possible applications I have provided.

If a leisure lifestyle appeals to you, this may be the perfect time to make

your move. I am always available for questions or details concerning

Michigan real estate.

Grand Rapids Ada Real Estate ~ Westbrook Realty

Grand River photo by Bonnie Westbrook

Grand Rapids Township MI Absorption Report ~ March 2009

Posted on March 18, 2009 by Terry & Bonnie

Current Absorption Rate for Grand Rapids Township homes is 11.65 months,

which means if no new listings come on the market, it will take 11.65 months

to sell the existing inventory of homes.

There are 167 Active listings currently for sale.

The average List price is $ 312,317

Average List price $/SqFt $141.83

86 Sold & Pending Grand Rapids Township Homes since 9-15-08.

The average SOLD price is $ 263,716

Average Sold Price /SqFt $123.70

High Sold Price $ 775,000

Low Sold Price $ 57,500

If you have questions about Grand Rapids Township or Grand

Rapids homes, please contact me directly:

1-888-240-1968 ext 0

email: terry@terrywestbrook.com

Grand Rapids -Ada Real Estate – Five Star Real Estate

Photo of Frederick Meijer Gardens Entrance by Bonnie Westbrook

Kentwood, MI Absorption Rates – March 2009

Posted on March 12, 2009 by Terry & Bonnie

Kentwood Michigan is a large suburb of Grand Rapids with a population under 50,000. It has manufacturing, shopping centers, and lots and lots of residential housing. Kentwood Public Schools are one of the largest school systems in the area with over 9000 students and 16 buildings within a 24.25 square mile area.

The downward trend of the last few years in Kentwood home sales is still continuing this year. We are seeing a slight price erosion from last month’s figures.

The upper end homes in Kentwood aren’t seeing the kind of activity that the lower end homes are getting. They are priced too high for today’s timid buyers or it could be condition. Your list price has to be close to the sale price or your home just doesn’t get serious buyer activity. And if you still have the brown shag carpeting, you will need to upgrade or lower your price if you want to see a sold sign.

In 2006, Kentwood has 495 home sales:avg sold price:$159,788.

In 2007, Kentwood had 434 homes sales: avg sold price:$151,009.

In 2008, Kentwood had 722 home sales:avg sold price: $115,127.

Home sales for Kentwood – $70,000 to $400,000 price range:

155 sold since September 2008.

Kentwood Absorption Rate for this price range is 9.16 months, at the current rate of sale (which means if no new listings come on the market, it will take 9.16 months to sell the listed homes).

Grand Rapids Ada Real Estate ~ Five Star Real Estate

Photo of Kentwood High School by Bonnie Westbrook

Lowell Michigan Real Estate Market Report ~ February 2009

Posted on February 27, 2009 by Terry & Bonnie

Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.

It has really grown in the last 20 years, in many ways. Lowell has a great

school system, a thriving business community, a lively arts society, and

is one of the best kept secrets in Kent County.

These are the statistics for home sales in the Lowell School District.

Lowell Michigan Absorption Report Feb 2009

lowell showboat lowell michigan

Active Listings: 142 Active Listings

Average Price: $258,078

Price per Sq Ft: $126.27 (Main Floor only)

Average days on the Market: 88

PENDING: 18 homes

SOLD: 44 Sold Homes

Average Price: $ 132,038

Average Price Per Sq Ft: $ 76.59 (Main floor only)

Average Days on the Market: 47

Expired: 29 Expired listings

Average Expired Price: $222,459

Average Price Per Sq Ft: $140.29 (Main floor only)

Average Days on the Market: 94

Absorption Rate for Lowell Listings is 16.13 months for the

current housing inventory. If no other homes enter the market, it

will take 16.13 months for the current homes to sell at the current

rate of sales.

Lowell Homes that are priced competitively are selling and selling

fairly quickly compared to the greater Grand Rapids area.

As you can see by the statistics, the homes that have their price

per square foot under $100 are seeing the most activity, although some

sales up to $ 145 a square foot are also moving. There are quite a few

foreclosure or short sale homes which are bringing down the average sales

price and square footage rates lower than they should be.

Some sellers have retired from the market and will try again in

the spring. They might find a better buying market, but prices are

still on the downward trend. With lower interest rates, this may

spur the local economy and put more buyers into the game.

If you would like additional information about Lowell

Area Homes, please contact me through email or my web site.

Grand Rapids MI Real Estate ~ Westbrook Realty

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: Grand Rapids Michigan Real Estate Market Reports

Wyoming Michigan Absorption Report ~ March 2009

Current Wyoming Michigan Real Estate Market

Forest Hills Michigan Absorption Report ~ March 2009

East Grand Rapids Absorption Report ~ March 2009

Lowell Michigan Absorption Report ~ March 2009

Lowell Michigan Real Estate Market Report ~ March 2009

Lowell Michigan Absorption Report March 2009

Forest Hills Michigan Real Estate Market Report ~ Adatowne ~ March 2009

Forest Hills Michigan Absorption Report ~ Cascade Woods ~ March 2009

Top Buys Waterfront Homes ~ Kent County Michigan March 2009

Grand Rapids Township MI Absorption Report ~ March 2009

Kentwood, MI Absorption Rates – March 2009

Lowell Michigan Real Estate Market Report ~ February 2009

Lowell Michigan Absorption Report Feb 2009