Ada Michigan Absorption Report ~ Ada Woods February 2009

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

                 February 2009

       7 Sold, 3 For Sale, 9 Expired

Ada Woods Active Listings: 3

Ada Woods Average Active Price - $ 325,933

Ada Woods Average Active Price/SqFt - $130.94

Ada Woods Average Days on Market - 121

Ada Woods SOLD Listings: 7

Ada Woods Average Sold Price -$ 306,079

Ada Woods Average Sold Price/SqFt - $117.76

Ada Woods Average Sold Days on Market - 127

Ada Woods Expired Listings: 9

Ada Woods Average Expired Price - $ 319,678

Ada Woods Average Expired Price/SqFt - $ 135.51 

Ada Woods Average Expired Days on Market - 162

The Absorption Rate for Ada Woods Homes is 6 months, which

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

6 months at the current rate of sales to sell the existing homes

inventory.

MARKET SYNOPSIS: The  average sold price has lowered about

 $ 7,000 since December 2008. The average asking price has

lowered about the same, 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 higher asking price. 

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

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

Ada Woods Market Report August 2008

Ada Woods Market Report Sept 2008

Ada Woods Market Report Oct 2008

Ada Woods Market Report Nov 2008

Ada Woods MI Market Report Dec 2008

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

please contact me directly.

Grand Rapids Ada MI Real Estate - Westbrook Realty

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Headley St in Ada Mi photo by Bonnie Westbrook