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Forest Hills Michigan Absorption Report ~ January 2009

By
Real Estate Agent with Westbrook Realty Broker-Owner

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 Jan 26, 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 16.23 months, which means if no

new listings come on the market, it will take 16.23 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. Fewer listings and sales this month, the average

 list price is lower for this upper end category. There is still a disconnect

 between average listed price/sqft and average sold price/sqft of about

 $40/sqft.

 

There are 211 Active Forest Hills Listings in the over $300,000 category with

an average price of $649,207.   The Average price per square foot of Active

Listings is $200.70 with a low price of $300,000 & a high price of $2,700,000.

 

There have been 54 Sold Forest Hills Listings in the over $300,000 category

with an Average price of $478,126.  The Average Sold price per square foot is

$ 161.09. The lowest sold price is $309,900 & the highest sold price is

$850,000.  There are 11 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 8.2

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

current rate of sales, it will take 8.2 months to sell all current inventory.

 

There are 192 Forest Hills Active Listings in Ada -Cascade with an Average

 Price of  $212,186.  The Average Active Price/SqFt is $120.63 and the

Average Active Days on the Market are 119.  The High Active Price is

$300,000 and the Low Active Price is $101,800.

 

There have been 90 Sold Forest Hills Listings in the last 5 months.  The

Average Sold Price is $197,706 with the Average Sold Price per square foot

at $105.87.  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 27 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 seems to be similar to last

month. Fewer active listings, and average list prices are inching slightly

downward. Average sold price has stayed almost the same although

more homes sold this month than last.

 

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.

 

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Grand Rapids Ada Real Estate  Westbrook Realty

Copyright 2009  All rights reserved

Photo of Forest Hills Eastern High School by Bonnie Westbrook

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