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 prestigious
Forest Hills Public Schools, and private schools, such as Ada Christian
that attract many home owners.
This report will cover the Sept 1 to Jan 26, 2009 real estate market activity.
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 Home, please contact me directly.
Click here ^ to subsribe to my Grand Rapids Blog
Grand Rapids Ada Real Estate Five Star Real Estate LLC
Copyright 2009 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook