East Grand Rapids MI Absorption Report ~ Jan 2009

Posted on January 24, 2009 by Terry & Bonnie

Current Real Estate Market Report For East Grand Rapids Michigan

East Grand Rapids MI Public Library

Absorption rate for East Grand Rapids MI housing market is currently

at 9.9 months, which means if no new listings come on the

East Grand Rapids market, it will take 9.9 months for the existing

home inventory to sell.

There are 140 active listings on the East Grand Rapids market now,

ranging from $50,900 to $4,000,000.

12 Pending Home Sales w/ prices ranging from $ 48,000 to $ 369,000.

87 Sold Homes with sold prices ranging from $ 52,000 to $ 680,000

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

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

in the last seven months.

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 MI Real Estate ~ Five Star Realty

Photo of East Grand Rapids Public Library by Bonnie Westbrook

Caledonia MI Absorption Rate ~ Jan 2009

Posted on January 24, 2009 by Terry & Bonnie

Current Caledonia MI Real Estate Market Report

Thornapple River at Ruehs Park

Absorption rate for Caledonia MI Market is currently 9.6 months,

which means if no other homes come on the market, it will take

9.6 months for the current inventory to sell at the current

sales rate.

There are 133 current active listings, from $60,900 to $1,100,000 in

Caledonia MI.

20 Pending Home Sales, and 77 Sold Homes since July 1, 2008.

The current average Caledonia home listed price is much higher

(about $130K) than the average selling price. This shows me

that the upper end of the Caledonia market is slow and the

lower end (under $200K) is selling. Sold price per square foot

continues to slide downward. There are some excellent buys

in Caledonia, don’t wait until they are gone.

Caledonia December 2008 Absorption Report

If you have any questions about Caledonia or Grand Rapids MI

homes, please contact me directly through my website.

Grand Rapids Ada Real Estate ~ Five Star Real Estate

Photo of Thornapple River at Ruehs Park by Bonnie Westbrook

Hidden Hills ~ Cascade Township MI Absorption Report ~ January 2009

Posted on January 22, 2009 by Terry & Bonnie

Hidden Hills is an established neighborhood of homes off Cascade Road

and 30th Street in Cascade Township, Michigan, a suburb of Grand Rapids.

Home construction started here in the 1960’s housing boom in the Forest

Hills School District and has continued through to today. There are new

homes still being built in this neighborhood.

Mid-size homes with quality construction are the rule, this suburban sub-

division area has been a desirable place to live in the Grand Rapids home

market for many years.

Hidden Hills, Cascade Township

Residential Real Estate Market Report

~ January 2009 ~

9 For Sale, 6 SOLD, 2 Expired

Hidden Hills Active Listings

Hidden Hills Average Active Price: $ 278,244

Hidden Hills Average Active Price Per Sq Ft: $ 114.64

Hidden Hills Active Average Days on Market: 121

Hidden Hills Sold Homes

Hidden Hills Average SOLD Price: $ 223,667

Hidden Hills Average SOLD Price Per Sq Ft: $ 104.00

Hidden Hills Average SOLD Days on the Market: 65

Hidden Hills Expired Homes

Hidden Hills Average Expired Price: $ 291,900

Hidden Hills Average Expired Price Per Sq Ft: $104.50

Hidden Hills Average Expired Days on the Market: 183

The current absorption rate is 13.5, which means we have a 13.5

month supply of homes in the Hidden Hills market, IF no new homes

enter the market and homes sell at the rate for the past 9 months.

MARKET SYNOPSIS: Hidden Hills average SOLD home price has

dropped about $46K and about $12 /SqFt in the last 9 months.

Time on the market has increased and will probably continue to do so

for the winter months. No new homes have come on the market and

many of the over priced homes in Hidden Hills have decided to not sell

in this market. Price and condition are the two items buyers will

compare. You can’t get top price if your condition is vintage 1980’s.

Today’s buyers have too many choices to settle.

Forest Hills School District Average Sold Home Prices last 5 years:

2008 – $ 279,709

2007 – $ 269,445

2006 – $ 300,691

2005 – $ 282,173

2004 – $ 268,072

Hidden Hills Market Report July 2008

Hidden Hills Market Report June 2008

Hidden Hills Market Report Oct 2008

Hidden Hills Market Report Nov 2008

If you would like further information about Cascade Homes or

Forest Hills homes, please contact me directly.

Grand Rapids – Ada Real Estate – Five Star Real Estate

photo of Fall Crab Apple Tree by Bonnie Westbrook

Grand Rapids MI Real Estate Market Report

Posted on January 20, 2009 by Terry & Bonnie

Cascade Neighborhood Absorption Report

Caravelle Village is an established subdivision built in the late 1960’s

and 1970’s just south of Burton Street, east of Kraft Avenue and west

of Cascade Road in Cascade Township. These Grand Rapids Homes

have the traditional mix of two stories, tri-levels and ranches. A desirable

place to live with median priced homes, Forest Hills Schools, and close to

28th shopping and restaurants. Originally built by a variety of builders, the

homes here are quality construction in a safe neighborhood and close to

the historic village of Cascade and 28th Street shopping.

town hall gardens cascade mi

Caravelle Village Residential Real Estate

January 2009 Market Report

4 For Sale, 7 SOLD, 4 Expired

Caravelle Village Active Listings: 4

Caravelle Village Average Active Price – $ 188,675

Caravelle Village Average Active Price/Sq Ft – $ 131.17

Caravelle Village Average Days on the Market – 141

Caravelle Village SOLD Listings: 7

Caravelle Village Average Sold Price – $ 183,071

Caravelle Village Average Sold price/SqFt – $ 128.21

Caravelle Village Average Sold Days on the Market – 62

Caravelle Village Expired Listings: 4

Caravelle Village Average Expired Price – $191,125

Caravelle Village Average Expired Price/SqFt – $124.08

Caravelle Village Average Expired Days on the market – 124

At the current rate of sales, we have a 6.4 month supply of homes in

Caravelle Village, if no new homes come on the market.

MARKET SYNOPSIS: Not much new activity for Caravelle Village since

November of last year. The average listed price has remained constant,

but buyers are reluctant.

This is a popular area for home buyers, but your home must be in top

notch condition and priced to sell in today’s market.

Caravelle Village Market Report August 2008

Forest Hills Schools Market Report Sept 2008

Caravelle Village Market Report Oct 2008

Ada Cascade Market Report Nov 2008

Grand Rapids -Ada Real Estate – Five Star Real Estate

photo of Cascade Town Hall Gardens by Bonnie Westbrook

Grand Rapids MI Real Estate Market Report ~ Tamarron Estates ~ January 2009

Posted on January 20, 2009 by Terry & Bonnie

Cascade Neighborhood Absorption Report

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

January 2009 Market Report

5 Sold, 3 For Sale, 11 Expired

Tamarron Active Listings: 3

Tamarron Average Active Price – $ 361,300

Tamarron Average Active Price/SqFt – $ 107.93

Tamarron Average Active Days on Market – 153

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: 11

Tamarron Average Expired Price – $ 388,891

Tamarron Average Expired Price/SqFt – $ 129.65

Tamarron Average Expired Days on Market – 137

At the current selling rate, we have a 4.2 month supply of homes on the

market in Tamarron in Cascade Township.

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,

the remaining sellers think their homes will sell at $ 107 a sq ft. This isn’t

happening.

The expired listings are even further out of sync at $ 129 a sq ft. If you have to

sell your Tamarron Estates home now, 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 August 2008

Forest Hills Market Report Sept 2008

Tamarron Estates Market Report Oct 2008

Ada Cascade Market Report Nov 2008

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

Home, please contact me directly.

Photo of Leslie Tassell Park by Bonnie Westbrook

Rockford MI Absorption Report ~ Jan 17, 2009

Posted on January 19, 2009 by Terry & Bonnie

Rockford Michigan Real Estate Market Report

Current Absorption Rate for Rockford Michigan is 18.35 months on

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

18.35 months to sell current inventory.

The under $200K market is moving faster than the over $200K.

345 Active Listings in Rockford MI today.

132 Sold Rockford Homes since July 1, 2008 with high price

at $385,000 and the low price at $50,000.

22 Pending Home Sales since June 30, 2008 to date.

Average Rockford List Price: $ 245,443

Average Rockford Sale Price: $ 207,554

If you have any questions about a Rockford or Grand Rapids

MI homes, please contact me directly.

Grand Rapids -Ada Real Estate – Five Star Real Estate

Photo of Downtown Rockford by Bonnie Westbrook

2008 ~ The Good News -The Bad News for Grand Rapids Real Estate

Posted on January 5, 2009 by Terry & Bonnie

Grand Rapids is a large geographic real estate market. The city of Grand

Rapids proper is one market, and the outlying suburbs usually have a

different sales ratio than the city of Grand Rapids does. And these different

suburbs were all over the board in 2008. There were a lot of homes that lost

value and there were a few bright spots where sales were almost up to the

average. This is really better done, neighborhood by neighborhood, but this

report will give you the “BIG PICTURE” for real estate 2008.

2008 can’t be analyzed without talking about foreclosures, bank owned

properties, or short sales. This category of sales was about 40% -70%

of our 2008 market (depending on the month), but only about 20% of our

homes listed on our local board. Many homeowners that were in the seller’s

seat this year were not in a happy place. Many are selling their homes

at less than they paid for them a few years ago. If anything, this market

emphasized how valuable home equity is in a soft market.

As you can see, the average home sale lost almost 17% of its value

compared to 2007 totals. This is good news compared to the 2008 stock

market (losses are runnning at 40%) but bad news if you owed more on your

mortgage than your home would sell for.

The majority of sales were in the under $160,000 category. This doesn’t

mean homes worth more were not selling, they were at a slower

rate of sale because there were fewer buyers for this price range.

There were only 3 townships that showed any growth in sales last year.

Alpine Township was up 3%, Ada Township was up 1%, and Grand Rapids

Township was 0%, which I rate as a plus in this market.

If you have questions about your Grand Rapids home value, contact me

through my website highlighted below.

If you would like to receive free Grand Rapids Market Reports in your

inbox, please let me know.

Grand Rapids Ada Real Estate ~ Five Star Real Estate

*All statistics come from the GRAR MLS Service, which is deemed to be

reliable but not guaranteed. Homes not listed on the MLS would not be

included in the above information.

Kentwood Michigan Real Estate Market Report Dec 2008

Posted on January 5, 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.

kentwood high school football stadium

The downward trend of the last few years in Kentwood home sales has been

continuing this year, with most of the fall due to foreclosures and bank owned

homes flooding the market with homes at bargain prices. The upper end

homes in Kentwood are sitting on the market, most at prices too high for

today’s buyer. Your list price has to be close to the sale price or your home

just doesn’t get serious buyer activity.

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

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

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

Home sales for Kentwood in the $70,000 to $150,000 price range

total of 140 selling in the third and fourth quarter of 2008.

Kentwood Absorption Rate for this price range is 12.26 months, at the

current rate of sale (which means if no new listings come on the market, it

will take 12.26 months to sell the listed homes).

Average Kentwood sold price: $116,503

Average Kentwood Sold Price per Sq Ft: $87.48

Average Kentwood List Price: $ 124,725

Average Kentwood List Price/SqFt: $ 97.90

Home Sales for Kentwood MI in the $150,000 to $400,000 Price Range

Third & Fourth Quarter Home Sales for Kentwood in this price range are 30.

Kentwood Absorption Rate for this price range is 35.6 months.

Average Kentwood Sold Price is $181,414

Average Kentwood Sold Price per Sq Ft is $101.66

Average Kentwood List Price: $ 186,727

Average Kentwood List Price/SqFt: $ 107.02

Kentwood MI Real Estate Market Report Oct 2008

Kentwood MI Real Estate Market Report November 2007

Kentwood MI Real Estate Market Report January 2008

If you would like additional information about Kentwood or

Grand Rapids Homes, please contact me directly. These free reports can

be emailed to your inbox, contact me to let me know your address and

which reports you are interested in.

Grand Rapids Ada Real Estate Five Star Real Estate LLC

photo of Kentwood High School Football Stadium by Bonnie Westbrook

Adacroft Commons ~ Forest Hills MI Absorption Report Dec 2008

Posted on December 31, 2008 by Terry & Bonnie

Adacroft Commons is a popular home market in Ada for the

Grand Rapids area.

Part of the appeal is the proximity of Forest Hills Central 5/6 School,

Middle School, High School, St Roberts School & Ada Christian

School, which are within walking distance. Adacroft Commons is also

close to the village of Ada and Forest Hills shopping. It is an established

subdivision, being started in the early 1970’sby E. L. Ladd Builders of

Ada, at the same time they were buildingin Adatowne. Adacroft

Commons homes were required to have atwo stall attached garage and

a family room, while Adatowne homes did not. There is designated

common land in thedevelopment that remains heavily wooded and in a

natural state,as in its adjacent neighborhood, Ada Woods. I have held

many open houses in these plats when they were new and sold many of

the homes as new construction – to be built. We personally purchased a

spec home here in 1976 and livedin Adacroft for 5 years before we built

our dream home on 6 acres(also in Ada Township).

If you doubt the power of your home as an investment, a 4 bedroom 2

story home (about 1750 sq ft) sold for $ 39,900 in Adacroft Commons

in 1970.

Adacroft Commons Real Estate

December 2008 Market Report

8 Sold, 0 For Sale, 1 Pending, 10 Expired

Adacroft Commons Active Listings: 0

Adacroft Commons Active Price – $0

Adacroft Commons Active Price/SqFt – $0

Adacroft Commons Active Days on Market 0

Adacroft Commons SOLD Listings: 8

Adacroft Commons average sold price – $ 165,625

Adacroft Commons average sold price/SqFt – $96.99

Adacroft Commons average sold days on market -77

Adacroft Commons Expired Listings: 10

Adacroft Commons average expired price – $ 186,410

Adacroft Commons average expired price/SqFt – $ 134.36

Adacroft Commons average days on market – 110

There are no current homes for sale in Adacroft Commons

listed on the local MLS board. This is an extremely desirable

area to live, with its close proximity to Forest Hills Central

Middle & High Schools. In the above stats you can see the

$20,000 disconnect between sellers and buyers, or $37 /SqFt.

difference on the main floor. If you would like to sell in this market,

you have tobe priced at the current market price, not 2004

prices, IF you want to sell your home.

If you have detailed questions or just need general info

about Grand Rapids or Ada Homes, please contact me.

Grand Rapids Ada MI Real Estate – Five Star Real Estate

Adacroft Entrance on Ada Drive Photo by Bonnie Westbrook

Grand Rapids MI Real Estate Market Report Dec 2008 ~ Centennial Park Condominiums

Posted on December 31, 2008 by Terry & Bonnie

Centennial Park Meadows Condominiums are located just off 28th Street

and Thornapple River Dr. in Cascade, Michigan. The Condos wrap around

the Centennial Golf Course and community.

This private par 70 golf course has plenty of challenges for golfers at

every level. This community also has a clubhouse and restaurant for

members.

We have relocated several clients into this community and they find it a

wonderful place to live. Just minutes from 28th Street & Cascade shopping,

dining and amusements, you are centrally located but tucked away from

the bustle of the area for quiet, serene living and easy access to golf.

Centennial Park Meadows Condos

Real Estate Market Report

December 2008

16 For Sale, 0 Pending, 5 SOLD, 9 Expired

Centennial Condos Active Listings: 16

Centennial Condos Active Average Price – $248.569

Centennial Condos Active average $/SqFt – $ 132.68

Centennial Condos Active average days on market – 129

Centennial Condos Sold Listings: 5

Centennial Condos Sold average price – $ 102,810

Centennial Condos Sold average $/SqFt – $ 72.45

Centennial Condos Sold average days on market – 48

Centennial Condos Expired Listings: 9

Centennial Condos Expired average price – $ 249,844

Centennial Condos Expired average $/SqFt – $ 152.26

Centennial Condos Expired average days on market – 144

The Absorption Rate for Centennial Park Condos is 38.4 months,

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

38.4 months for the existing condos to sell at the current rate

of sales. This is a high number for Grand Rapids, which reflects the

weak market for condos, over priced listings, or a combination

of both, which I believe is the case.

Centennial Park Condos Market Report Oct 2008

Centennial Park Condos Market Report Sept 2008

Centennial Park Condos Market Report August 2008

Centennial Park Condos Market Report July 2008

Centennial Park Condos Market Report June 2008

If you would like information about Grand Rapids – Cascade MI Condos

or Grand Rapids – Cascade MI Homes, please contact me directly.

If you would like this report emailed to your inbox every month, please

Grand Rapids – Ada Real Estate – Five Star Real Estate

photo of Golf Equipment by Bonnie Westbrook

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: Grand Rapids Michigan Real Estate Market Reports

East Grand Rapids MI Absorption Report ~ Jan 2009

Current Real Estate Market Report For East Grand Rapids Michigan

Caledonia MI Absorption Rate ~ Jan 2009

Hidden Hills ~ Cascade Township MI Absorption Report ~ January 2009

Grand Rapids MI Real Estate Market Report

Cascade Neighborhood Absorption Report

Grand Rapids MI Real Estate Market Report ~ Tamarron Estates ~ January 2009

Cascade Neighborhood Absorption Report

Rockford MI Absorption Report ~ Jan 17, 2009

Rockford Michigan Real Estate Market Report

2008 ~ The Good News -The Bad News for Grand Rapids Real Estate

Kentwood Michigan Real Estate Market Report Dec 2008

Adacroft Commons ~ Forest Hills MI Absorption Report Dec 2008

Grand Rapids MI Real Estate Market Report Dec 2008 ~ Centennial Park Condominiums