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 March 29, 2009 real estate

market activity.

          Forest Hills MI Listings over $300,000

The absorption rate for Forest Hills MI is 18.9 months, which means if no

new listings come on the market, it will take 18.9 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. Inventory is ticking up, but sales are holding

fairly steady. Your Forest Hills home has a good chance to sell if it is in

good condition and priced correctly.

 

There are 224 Active Forest Hills Listings in the over $300,000 category with

an average price of $628,678.   The Average price per square foot of Active

Listings is $201.55 with a low price of $300,000 & a high price of $2,700,000.

There have been 69 Sold Forest Hills Listings in the over $300,000 category

with an Average price of $491,382.  The Average Sold price per square foot is

$ 163.75. The lowest sold price is $309,900 & the highest sold price is

$1,325,000.  There are 14 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 8.56

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

current rate of sales, it will take 8.56 months to sell all current inventory.

 

There are 197 Forest Hills Active Listings with an Average  Price

of  $214,962.  The Average Active Price/SqFt is $120.32 and the

Average Active Days on the Market are 123.  The High Active Price is

$300,000 and the Low Active Price is $104,900.

There have been 124 Sold Forest Hills Listings in the last 7 months.  The

Average Sold Price is $193,873 with the Average Sold Price per square foot

at $102.24.  Average Sold Days on the Market is 109 Days.  The high Sold

price is $299,900 & the low sold price is $104,500.  There are 37 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 is still seeing

some reduction in sold price and price per sq ft.  With more active listings

coming on the market in the spring, this will not help current inventory

sell faster or for more money.

 

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