Forest Hills Michigan Real Estate Market Report Jan-Dec 2009
Forest Hills (Ada Cascade) MI Real Estate Absorption Report
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 2009 real estate market activity.
Forest Hills MI Listings $ 500,000+
Not much demand and lots of time on the market in the higher price
brackets of Forest Hills with a 24 month Absorption Rate, which
means it would take 24 months for the current inventory to sell.
Active Listings – 88
Average Price – $ 834,266
Pending – 1
Sold – 43
Average sold price: $ 684,349
Average Sold/Sq Ft: $198.52
Forest Hills MI Listings $250,001 – 499,999
The absorption rate for Forest Hills MI is 9.3 months, which means if no
new listings come on the market, it will take 9.3 months to sell the existing
$250K-499K homes at the current rate of sale. This rate is down significantly
from mid summer rates, sold prices are still inching downward. Inventory is
down slightly, but sales are holding fairly steady. We aren’t back to a normal
market time of 3-6 months yet, but we are heading in that direction.
Forest Hills MI Active Listings $250,000 – $499,999
Active Forest Hills Listings: 136
Average price of $358,876
Average price/square foot $160.53
Low price of $254,500
High price of $499,900.
Sold Forest Hills Listings: 152
Average sold price $334,883
Average Sold price/sq ft $ 137.17
Pending Listings: 23
Forest Hills Active Listings $50,000 – $250,000
The Absorption rate for Forest Hills homes in this price range is 5.47
months, which means that if no new homes enter the market, at the
current rate of sales, it will take 5.47 months to sell all current inventory.
This is down from last month, but still within normal range.
Forest Hills Active Listings 145
Average Active Price $182,930
Average Active Price/SqFt $113.75
Average Active Days on the Market 120
High Active Price $250,000
Low Active Price $54,900
Sold Forest Hills Listings 266
Average Sold Price $ 167,044
Average Sold Price/sq ft $95.11
Average Sold Days on the Market 90 Days
High Sold Price $250,000
Low Sold price is $50,100
Pending Sales 29
More Forest Hills Articles:
Forest Hills Real Estate Market Reports
If you would like specific information about an Ada Cascade or
Forest Hills MI Homes, please contact me directly.
Copyright 2009 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook
_____________________________________________________________________________
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,
numerous universities, plus lively arts and entertainment of all kinds.
We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263