Cascade Township Michigan Neighborhood Absorption Report ~ Caravelle Village ~ May 2009

Cascade Neighborhood Absorption Report

Caravelle Village is an established subdivision built in the late 1960’s

and 1970’s just south of Burton Street, east of Kraft Avenue and west

of Cascade Road in Cascade Township. These Grand Rapids Homes

have the traditional mix of two stories, tri-levels and ranches. A desirable

place to live with median priced homes, Forest Hills Schools, and close to

28th shopping and restaurants. Originally built by a variety of builders, the

homes here are quality construction in a safe neighborhood and close to

the historic village of Cascade and 28th Street shopping.

Caravelle Village Residential Real Estate

May 2009 Market Report

4 For Sale, 1 SOLD, 1 Pending, 1 Expired

Caravelle Village Active Listings: 4

Caravelle Village Average Active Price – $ 177,425

Caravelle Village Average Active Price/Sq Ft – $ 129.79

Caravelle Village Average Days on the Market – 204

Caravelle Village SOLD Listings: 1

Caravelle Village Average Sold Price – $ 175,000

Caravelle Village Average Sold price/SqFt – $ 128.39

Caravelle Village Average Sold Days on the Market – 34

Caravelle Village Pending Listings: 1

Caravelle Village Expired Listings: 1

At the current rate of sales, we have a 20 month supply of homes in

Caravelle Village, if no new homes come on the market.

MARKET SYNOPSIS: Only one home has sold in Caravelle Village since

January of this year. The average listed price has dropped about $10K

from last year, but buyers are still reluctant.

This has been a popular area for home buyers, but your home must be

in top notch condition and priced to sell in today’s market.

photo of Cascade Town Hall Gardens by Bonnie Westbrook

Grand Rapids Real Estate