Forest Hills Michigan Real Estate Market Report Jan-Dec 2010
Forest Hills is actually a school district in Ada–Cascade MI real
estate market that is always active. These 2 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 2010 real estate market activity.
Forest Hills MI 2010 Market Report:
Active Listings – 403
Median Sold Price – $ 219,975
Pending – 68
Sold – 589
DOM – 64
% Sale Price to List Price – 95.38%
Absorption Rate: 7.3 Months
Please bear in mind that this report is all about averages.
It will probably take a $700K home longer to sell than one listed
at $199K. Even though there are many multi-million dollar homes
in this district, the majority of homes are under $400K and with the
median sold price under $220K, you can see where all the activity
is centered.
The Absorption Rate at 7.3 months means that it will take about 7
months for the current inventory of homes to sell, if selling at the
current rate. This is still a Buyer’s Market and until the shadow
inventory is dealt with, looks like it will be for quite some time.
If you are thinking about selling your home, waiting will only
see more homes come on the market [spring season & pending
foreclosures] which will force prices further downward. Experts tell
us that a market like we had in 2005-2006 is probably 10+ years away.
Additional Forest Hills Articles:
Forest Hills Real Estate Market Reports
Forest Hills District Ranks Top in State
Forest Hills District Posts MEAP Scores
If you would like specific information about an Ada Cascade or
Forest Hills MI Homes, please contact me directly.
Copyright 2011 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook
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The authors of the this blog write about Grand Rapids Real Estate,
the Greater Grand Rapids MI area, and what it is like to live in West
Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan
area with a diverse business community, great medical research & services,
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We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263