You are currently browsing the monthly archive for December 2009.
Real Estate is always local. Since Grand Rapids is such a large metropolitan
area, the real estate market report for the whole area is not necessarily
indicative of what is going on in your neighborhood. It lets you know
how we are doing as a whole, but it certainly doesn’t tell you what your
neighbor just got for his home or what the market prices are in your
neighborhood.
To give a logical approach to this report, we have split it up by public
school district. This is a macro neighborhood report, not a micro report.
Bear in mind, these are average sold prices for large areas. But we hope it
gives you a good idea of where home prices are in your general area within
the greater Grand Rapids market.
Belding
2009 – $ 55,110
2008 – $ 71,758
2007 – $ 100,416
Byron Center
2009 – $ 160,220
2008 – $ 185,707
2007 – $ 200,766
Caledonia
2009 – $ 153,360
2008 – $ 163,983
2007 – $ 191,724
Cedar Springs
2009 $ 85,493
2008 – $ 99,170
2007 – $128,705
Comstock Park
2009 – $ 112,010
2008 – $114,348
2007 – $138,251
East Grand Rapids
2009- $ 230,518
2008 – $ 224,625
2007 – $279,909
Forest Hills
2009 – $ 224,558
2008 – $ 272,793
2007 – $ 267,817
Godfrey-Lee
2009 – $ 33,834
2008 – $ 41,515
2007 – $ 71,748
Godwin Heights
2009 – $ 42,149
2008 – $ 53,574
2007 – $ 91,708
Grand Rapids
2009 – $ 58,936
2008 – $ 65,803
2007 – $ 99,233
Grandville
2009 – $ 135,538
2008 – $ 144,222
2007 – $ 162,095
Jenison
2009 – $ 123,639
2008 – $ 131,184
2007 – $ 139,372
Kellogsville
2009 – $ 57,135
2008 – $ 70,897
2007 – $ 93,322
Kenowa Hills
2009 – $ 116,917
2008 – $ 124,367
2007 – $ 151,869
Kentwood
2009 – $ 100,561
2008 – $ 114,940
2007 – $ 141,804
Lowell
2009 – $ 127,542
2008 – $ 135,123
2007 – $ 164,888
Northview
2009 – $ 116,275
2008 – $ 148,128
2007 – $ 160,557
Rockford
2009 – $ 157,624
2008 – $ 176,048
2007 – $ 198,416
Wyoming
2009 – $ 67,784
2008 – $ 82,756
2007 – $109,009
After doing this report, we can certainly see why Grand Rapids
is one of the TOP 5 best places in the country to buy a home
at a reasonable price.
| Share this post : |  |
 |
 |
 |
 |
 |
 |
 |
photo of Grand Rapids Children’s Museum 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
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
Forest Hills Real Estate Market Reports 2009
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
Current Caledonia MI Absorption Report
Absorption rate for Caledonia MI Market is currently 7.16 months,
which means if no other homes come on the market, it will take
7.16 months for the current inventory to sell at the current
sales rate. This stat is one third+ less than summer’s figure.
We are seeing a definite upturn in sales in Caledonia homes and
sell times may be returning to a “normal” range of 3-6 months.
There are 123 current active listings, from $49,900 to
$1,100,000 in Caledonia MI.
The current average Caledonia home listed price is much higher
[about $293,852] than the average sold price [$136,037].
25 Pending Home Sales, and 52 Sold Homes since Jan 1, 2009.
The average sold price/Square foot is $ 84.61
Sold High $290,000 Sold Low – $34,000
There are 2 homes in million dollar + range listed, so this skews the
figures somewhat in the upper home price brackets.
The Caledonia market has been busy this year; buyers bought 8 homes
under $100K, the majority were between $100-200K.
Average sold price/square foot and average sold price overall lost
ground this year. There are 14 homes listed under $100K, and lots
of opportunities in the middle brackets to own a home in Caledonia.
With interest rates bound to rise, buying now could save you
thousands of dollars over the life of your mortgage.
If you have any questions about Caledonia or Grand Rapids MI
homes,please contact me directly through my web site.
Grand Rapids Real Estate ~ Westbrook Realty
Copyright 2009 All rights Reserved
Photo of Snow Covered Fir Trees 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
Holiday traditions to celebrate the winter solstice are common
to every culture around the world. The transition from the shortest,
darkest day in mid-winter to the longest day of light at the beginning
of summer are a common theme to our world.
Frederick Meijer Gardens & Sculpture Park in Grand Rapids
celebrates the light by showing the traditions of many countries
and cultures around the world. Besides the forty one gorgeous
Christmas Trees that are decorated as they would be in their native
regions, they also display Kwanza, Jewish, and Buddhist traditional
decorations. New this year is Tet Nguyen Dan, the Vietnamese
celebration of the lunar New Year; pronounced day wen don,
it literally means, “the first morning of the first day.”
Meijer Gardens is celebrating the completion of a $7.6 million
renovation and expansion that was awarded a silver level LEED
certificate in energy and environmental design. The renovation
and expansion was centered around the cafe, visitor areas, office
and storage spaces. The new cafe has a stunning Dale Chihuly
blown glass sculpture of colored glass flowers hanging from
the ceiling.
We have put together a few photos we took at the gardens
recently, so you can see some of the holiday decorations from
near and far. The gorgeous Christmas trees are all 12-15 feet tall
and loaded with beautiful ornaments. This is just a sampling of the
Christmas Traditions displayed here:
Our Holiday Wishes for Peace & Goodwill to all of you!
Centennial Park Meadows Condominiums are located just off 28th Street
and Thornapple River Dr. in Cascade, Michigan. The Condos wrap around
the Centennial Golf Course and community.
This private par 70 golf course has plenty of challenges for golfers at
every level. This community also has a clubhouse and restaurant for
members.
We have relocated several clients into this community and they find it a
wonderful place to live. Just minutes from 28th Street & Cascade shopping,
dining and amusements, you are centrally located but tucked away from
the bustle of the area for quiet, serene living and easy access to golf.
Centennial Park Meadows Condos
Real Estate Market Report
Jan-Dec 2009
0 For Sale, 0 Pending, 11 SOLD
Centennial Condos Active Listings: 0
Centennial Condos Active Average Price – $0
Centennial Condos Active average $/SqFt – $ 0
Centennial Condos Active average days on market – 0
Centennial Condos Sold Listings: 11
Centennial Condos Sold average price – $ 167,409
Centennial Condos Sold average $/SqFt – $ 99.48
Centennial Condos Sold average days on market – 131
The Absorption Rate for Centennial Park Condos is 0 months,
which means if no new listings come on the market, it will take
0 months for the existing condos to sell at the current rate
of sales. This market is seeing sales and with no condos on the
market, it is difficult to say how long before they would sell, most likely
quickly, if priced correctly.
The average sold price is higher than it was this winter but
relatively stable this year.
If you would like information about Grand Rapids – Cascade MI Condos
or Grand Rapids – Cascade MI Homes, please contact me directly.
If you would like this report emailed to your inbox every month, please
contact us.
Grand Rapids Real Estate – Westbrook Realty
Copyright 2009 All rights reserved
photo of Golf Equipment 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
The Quail Crest Condo development is located west of Spaulding
and north of Burton Street in Cascade Township. There is an
entrance off Spaulding Avenue and off Burton Street. This condo
development was started in the late 1980’s and continued building
into the current phase.
The condos are spacious with cathedral ceilings and many have
finished lower levels with extra bedrooms and baths. This area
has been very attractive for retirees, as they are close to all the
local amenities and shopping but no house maintenance.
Forest Hills Public Schools are the school district,
Watermark Country Club, Forest Hills & 28th Street shopping are
a short distance away. The miles of Cascade-Ada Bike/Walking Trail
connects to downtown Cascade, downtown Ada, and 28th St.
Quail Crest Condominiums Real Estate Market Report
Jan-Dec 2009
4 For Sale, 1 Pending, 10 Sold, 12 Expired
Quail Crest Condos Active Listings: 4
Quail Crest Condos Average Active Price – $237,450
Quail Crest Condos Average Active Price/SqFt – $ 169.90
Quail Crest Condos Average Active days on market – 74
Quail Crest Condos Sold Listings: 10
Quail Crest Condos average sold price – $175,450
Quail Crest Condos average sold price/SqFt – $ 119.62
Quail Crest Condos average days on market – 157
The absorption rate for Quail Crest Condos is 3.6 months, which
means if no new listings come on the market, it will take 3.6 months
for the current inventory of homes to sell at the current rate of sales.
This is much lower than typical for the Grand Rapids Market. The average
sold price and the price per square foot has fallen since the spring market.
We have seen some sellers renting instead of selling, waiting for a
return to a seller’s market. That may be the route to take, if you can
play the role of landlord successfully.
Forest Hills MI Real Estate Market Report
If you have further questions about Grand Rapids or
Cascade MI Condos, please contact me directly. We can
also have these monthly market reports emailed to your
inbox, just contact us.
Grand Rapids MI Real Estate – Westbrook Realty
Copyright 2009 All rights reserved
photo of Quail Crest Entrance 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
Crystal Springs ~ Kentwood Absorption Report August 2009
Crystal Springs Development in Caledonia, Michigan is a large, residential
suburban housing development that was started in the late 1980’s and
most construction was finished in the 1990’s although some newer homes
have been built since 2000. There are also a few vacant lots left to develop.
This development covers a large area around the Stonewater Golf Course
at Crystal Springs south of 68th Street to 72nd Street and encompassing
Kalamazoo Avenue on the east and west. This development has single
family homes and condos, many located right on the Stonewater Golf Course.
The public school system is Kentwood, even though the address is Caledonia.
Crystal Springs is close to the shopping plaza at 68th and Kalamazoo,
Kentwood High School, and a short hop to M-6, which is the south beltline for
the Greater Grand Rapids area connecting US 131 on the west and I96 on the
east side of the city.
Jan-Dec 2009 Real Estate
Residential Market Report
Crystal Springs Neighborhood
Active Listings: 12 Active Listings
Average Price: $255,916
Price per Sq Ft: $101.86 (Main Floor only)
Average days on the Market: 143
PENDING: 2 homes
SOLD: 33 Sold Homes
Average Price: $ 216,674
Average Price Per Sq Ft: $ 92.91 (Main floor only)
Average Days on the Market: 107
Absorption Rate for Crystal Springs Listings is 4.3 months for the
current housing inventory. If no other homes enter the market,
it will take 4.3 months for the current homes to sell at the current
rate of sales.
Crystal Springs Homes that are priced competitively are selling.
As you can see by the statistics, the homes that have their price
under $100/square foot are selling. Sales have started to rebound in
this neighborhood from last year’s abysmal rates. Although on the
downside, the average price has fallen another 13% since summer.
Watermark CC purchases Crystal Springs GC
Crystal Springs GC has a new look & a new name
Caledonia Michigan Real Estate Reports
Kentwood Michigan Real Estate Reports
If you would like additional information about Caledonia
or Kentwood Homes, please contact me directly at
1-888-240-1968 ext 0
_____________________________________________________________________________________________________
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
The Ada area growth trends remain strong. Ada Township planner,
Jim Ferro states that the Ada population has grown by 20% since
2000. The new 80 unit condo site – Villas of Ada and Stone Falls of Ada
– a 210 unit apartment complex, currently under construction here.
Both of these new developments are quite close to Adacroft Commons.
Adacroft Commons Real Estate
Jan-Dec 2009 Market Report
2 Sold, 4 For Sale, 1 Expired, 1 Pending
Adacroft Commons Active Listings: 4
Adacroft Commons Active Price – $174,200
Adacroft Commons Active Price/SqFt – $120.46
Adacroft Commons Active Days on Market -61
Adacroft Commons SOLD Listings: 2
Adacroft Commons average sold price – $ 187,00
Adacroft Commons average sold price/SqFt – $95.99
Adacroft Commons average sold days on market –13
Adacroft Commons Pending Listings: 1
Adacroft Commons Expired Listings: 1
There are 4 current homes for sale in Adacroft Commons neighborhood
listed on the local MLS board. This is a desirable area to live, with its
close proximity to Forest Hills Schools & Ada Christian School.
Market Synopsis: Adacroft Commons Homes are selling for under $100/SqFt.
This neighborhood Absorption Rate is 16 Months, sales activity has slowed
considerably. Homes that are in great condition and priced appropriately
have the best chance of selling in this buyer’s market.
Forest Hills Michigan Real Estate Market Reports 2009
If you have detailed questions or just need general information
about Grand Rapids or Ada Homes, please contact me directly.
or call 1-888-240-1968 ext 0
Grand Rapids MI Real Estate – Westbrook Realty
Copyright 2009 All rights reserved
Adacroft Commons Entrance Photo 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
Cascade Neighborhood Absorption Report
Tamarron Estates is an upscale suburban development with large
wooded lots, walking access to Thornapple Elementary School and
the Thornapple River Backwaters. It is located just off of
Thornapple River Drive and Cascade Road in Cascade Township.
The house styles vary from large, comfortable ranches, traditional
two stories, to contemporary homes. Many of the homes were built
in the late 1970’s to the mid 1980’s, though there is a new street
that has much newer homes on acreage settings. Some houses close
to and surrounding this development are in the upper price brackets
in the Grand Rapids real estate market.
Tamarron Residential Real Estate
Jan-Dec 2009 Market Report
2 Sold, 3 For Sale, 13 Expired
Tamarron Active Listings: 3
Tamarron Average Active Price – $ 346,600
Tamarron Average Active Price/SqFt – $ 98.06
Tamarron Average Active Days on Market – 68
Tamarron SOLD Listings: 2
Tamarron Average Sold Price – $ 202,000
Tamarron Average Sold Price/SqFt – $ 79.07
Tamarron Average Sold Days on Market – 66
Tamarron Expired Listings: 13
Tamarron Average Expired Price – $ 472,638
Tamarron Average Expired Price/SqFt – $ 142.86
Tamarron Average Expired Days on Market – 143
At the current selling rate, we have a 18.7 month supply of homes
on the market in Tamarron Estates in Cascade Township.
MARKET SYNOPSIS: Tamarron homes are selling but not at the
prices that sellers would like to see. Today’s market is accepting
homes under $100.00 a sq ft. This is a substantial price reduction for
this area. As you can see, the expired sellers think their homes
will sell at $ 130-150/sq ft. The two homes that have sold since
January might be distressed sales or foreclosed homes. List prices
have been reduced but not to a realistic price for buyers, as
evidenced by the 13 homes that expired.
The Absorption rate of 18.7 months is high for the Forest Hills area.
If you have to sell your Tamarron Estates home now, the market
place is telling you that you need to be around $100 a sq ft and
in good condition to see your home sold successfully.
Forest Hills Michigan Real Estate Market Reports 2009
If you have questions about the value of your Cascade or Forest Hills
Home, please contact me directly: terry@terrywestbrook.com or
call me at 1-888-240-1968 ext 0
Photo of Leslie Tassell Park 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
Hidden Hills is an established neighborhood of homes off Cascade Road
and 30th Street in Cascade Township, Michigan, a suburb of Grand Rapids.
Home construction started here in the 1960’s housing boom in the Forest
Hills School District and has continued through to today. There are new
homes still being built in this neighborhood.
Mid-size homes with quality construction are the rule, this suburban sub-
division area has been a desirable place to live in the Grand Rapids home
market for many years.
Hidden Hills, Cascade Township
Neighborhood Real Estate Market Report
January-December 2009
4 For Sale, 15 Sold, 0 Pending, 9 Expired
Hidden Hills Active Listings 4
Hidden Hills Average Active Price: $ 429,975
Hidden Hills Average Active Price Per Sq Ft: $ 146.63
Hidden Hills Active Average Days on Market: 148
Hidden Hills Sold Homes 15
Hidden Hills Average SOLD Price: $ 210,367
Hidden Hills Average SOLD Price Per Sq Ft: $ 98.06
Hidden Hills Average SOLD Days on the Market: 102
Hidden Hills Pending Homes: 0
Hidden Hills Expired Homes: 9
Hidden Hills Average Expired Price: $ 288,922
Hidden Hills Average Expired Price Per Sq Ft: $119.70
Hidden Hills Average Expired Days on the Market: 162
The current absorption rate is 3.2 months, which means we have
a 3.2 month supply of homes in the Hidden Hills market, IF no new
homes enter the market and homes sell at the current rate.
MARKET SYNOPSIS: Hidden Hills average SOLD home price has
bounced back somewhat from this spring’s lows of under $90 a square
foot, but the average sold price is still declining. Time on the market
has increased slightly and 15 homes have sold since the first of the
year.
Prices are about 30% below market highs of a few years ago but this
is still a popular place to live in the the Forest Hills School District.
The financial experts tell us that it will be between 2013 and 2023
before they expect these market highs to return.
Forest Hills School District Average Sold Home Prices last 5 years:
2008 – $ 279,709
2007 – $ 269,445
2006 – $ 300,691
2005 – $ 282,173
2004 – $ 268,072
Forest Hills Michigan Real Estate 2009
If you would like further information about Cascade Homes or
Forest Hills homes, please contact me directly.
Grand Rapids Real Estate – Westbrook Realty
Copyright 2009 All rights reserved
photo of Leslie E Tassell Park 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
GRMiRealEstate's Weblog 