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Current Absorption Rate for Rockford Michigan is 4.79 months
overall on average, which means if no new listings come on the
market, it will take 4.79 months to sell current home inventory.
March 15, 2010 – June 14, 2010
Rockford Homes Less than $200,000
Active Listings – 217
Pending Homes – 52
Sold Rockford Homes 111
Average sold price $ 139,345 140,296
High sold price $199,900
Low sold price $44,250
Average Sold Price/SqFt $98.08
Over $ 200,000 Rockford MI Homes
Active Rockford MI Listings – 162
Pending Rockford Homes – 23
Sold Rockford Homes – 51
Average Rockford List Price: $ 356,650
Average Rockford Sold Price: $ 336,866
High Sold Price $ 1,299,000
Low Sold Price $202,000
Even though inventories are still high in this market, the
absorption rate is back in normal range. It has been a good
spring market for the Rockford area. We still recommend
you have your home priced correctly, over-priced homes
will not sell in this buyer’s market.
If you have any questions about Rockford or
Grand Rapids MI homes, please contact me directly.
Grand Rapids Real Estate – Westbrook Realty
Copyright 2010 All rights reserved
Photo by Bonnie Westbrook
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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 metro-
politan 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 Woods is an established neighborhood of large, executive
style homes in Cascade Township, MI. Most of these homes were
built in the 1960’s and 1970’s, although there are a few newer
homes that were built recently in the area. Close to the village of
Cascade and the Thornapple River, this heavily wooded area has
been a Grand Rapids desired suburban place to live for decades.
Part of the Forest Hills Public School District, which draws many
families, there is also the river and it’s picturesque appeal. The
drive down Thornapple River Drive between Ada and Cascade in
the fall is one of the prettiest drives in the greater Grand Rapids area.
More information about this Cascade Woods Home on our web site.
Cascade Woods Market Report Jan – April 2010
10 Homes For Sale, 0 Pending, 1 SOLD, 5 Expired
Cascade Woods Active Listings: 10
Cascade Woods Average price – $386,260
Cascade Woods Average $/SqFt – $141.29
Cascade Woods Average days on market – 116
Cascade Woods Sold Listings: 1
Cascade Woods average price – $211,000
Cascade Woods average $/SqFt – $ 81.40
Cascade Woods average days on market – 135 days
Cascade Woods Expired Listings: 5
The Absorption Rate for Cascade Woods Homes is 40 months,
Which means if no new listings come on the market, it will take
3.3 years to sell the existing inventory. The average sold price
has actually risen but one sale doesn’t make a trend.
This could reflect foreclosures, short sales, and homes in dated
condition that have sold over the last 12 months. The average list
price has decreased by over 9% since 2009. Only 1 Cascade Woods
home has sold since this year, so far.
Today’s buyers do not want to do ANY updates, which includes
painting, new kitchens & baths, and new flooring. If your Cascade
Woods home hasn’t sold, it is probably condition, which gets
us back to price. If you don’t want to improve your home, you
won’t get the same price as people who have updated and kept
their home current according to recent trends.
Forest Hills Michigan Real Estate Reports ~ 2010
If you would like further information about Grand Rapids or
Cascade Homes, please contact me directly.
photo by Bonnie Westbrook
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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-April 2010 Real Estate
Residential Market Report
Crystal Springs Neighborhood
Active Listings: 17 Active Listings
Average Price: $261,665
Price per Sq Ft: $118.55 (Main Floors only)
Average days on the Market: 107
PENDING: 6 homes
SOLD: 9 Sold Homes
Average Price: $ 195,032
Average Price Per Sq Ft: $ 94.53 (Main floors only)
Average Days on the Market: 164
Absorption Rate for Crystal Springs Listings is 4.5 months for the
current housing inventory. If no other homes enter the market,
it will take 4.5 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, most of the homes that have their
price under $100/square foot are selling. Sales have started to
rebound in this neighborhood from the last few years abysmal rates.
Although on the downside, the average sold price has fallen another
8 % since 2009.
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 6
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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 students have posted outstanding MEAP scores
for the 2009-2010 year. The Forest Hills students placed at
the top of the Kent County District and the State of Michigan
charts.
In Mathematics, Reading Science, and Social Studies the
percent of Forest Hills students continues to be higher
for every test than what was achieved overall by students
in the District & State. Some of the results already meet
the federal requirements of No Child Left Behind mandate
of 100% proficiency by 2014.
You can view Forest Hills Public Schools test scores here.
As state and federal governments have raised expectations
for student performance, Forest Hills students have recorded
higher levels of achievement. The school staff, parents and
students should be be proud of the effort and accomplishment
for this year’s test scores.
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_____________________________________________________________________________________________________
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
As the inventory of existing homes seeks a new normal, we find that the
distressed properties are a big portion of our market. Following the trends
in this area can give us insight into the future. The following chart shows
how they affect our market every month. And I see some encouraging
information.
Percentage of Foreclosures/Short Sales of Grand Rapids sold properties.
Looking at the chart you can see that Foreclosures & Short Sales control
over 59% of our current market volume in January 2010 but the $ Dollar
percentage is only 44%. I am guessing the dollar percentage of total sales
will increase over time so the short sales and foreclosures will not have
as much of an effect on current traditional (non-foreclosure + short sale)
sales.
Experts in the financial markets have written extensively about the increase
coming in the foreclosure market, last month figures were estimated to be
3 million or more homes that are facing foreclosure in U.S. in the next
6-12 months.
So, will a buyer always go for the distressed sale home over the traditional sale?
Apparently not. We hear from our buyer clients over and over that they
DO NOT WANT TO DO REPAIRS or UPDATING. They want to purchase a
home and get on with their life – not devote 6 months to 12 months of their
spare time and money on painting, repairs and updating. If they can buy a
home that is in good condition and is a foreclosure or short sale home, great!
But that is not usually the case.
We have seen that banks are starting to do basic repairs and updates before
putting homes on our local market. What a difference this makes to first time
buyers who don’t have money for extra repairs and updates.
_____________________________________________________________________________________________________
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
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We have been tracking the activity on Short Sales and Foreclosures
of our local Grand Rapids market for some time. They have become
a large share of our housing market here in West Michigan and sellers
must understand the fact that they have to compete with this segment
of the market and will for the next few years.
Experts in the financial markets have written extensively about the
increase in foreclosures, last month figures were estimated to be 3
million or more homes that are facing foreclosure in U.S. in the next
6-12 months.
1) What are buyers looking for when they search for a home?
As you can see from the graph above, this is the order of importance buyers
put in their home searches:
- Square Footage
- Bedrooms
- Baths
- Price
Price is number 4 behind Square Footage, Bedrooms, and Baths. So, will a
buyer always go for the distressed sale home over the traditional sale?
Apparently not. We hear from our buyer clients over and over that they
DO NOT WANT TO DO REPAIRS or UPDATING. They want to purchase a
home and get on with their life – not devote 6 months to 12 months of their
spare time and money on painting, repairs and updating.
BUT Price is the ultimate point of competition.
Price is the only thing left when you have 30 similar homes on the market
competing for the same buyers. Supply and Demand will continue to rule
the real estate housing market in the foreseeable future.
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_____________________________________________________________________________________________________
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
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.
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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
Adatowne is a popular entry level home market in the Ada area of
the Greater Grand Rapids metropolitan area.
Part of the appeal is the proximity of Ada Elementary, Forest Hills
Central Middle and High Schools, Ada Christian Schools, St Roberts
School and being close to the village of Ada. Adatowne is an
established subdivision, started in the early 1970’s by E.L. Ladd
Builders of Ada.
I have held many open houses in these plats and sold many of
the homes as new construction – to be built.
If you doubt the power of your home as an investment, a basic
ranch in Adatowne (about 1000 sq ft) sold for $ 19,900 in 1975.
Adatowne Residential Neighborhood in Ada, Michigan
Jan- December 2009 Real Estate Market Report
7 Sold, 0 Pending, 2 For Sale, 3 Expired
Adatowne Active Listings: 2
Adatowne Average Active price – $132,450
Adatowne Active average price/SqFt – $87.71
Adatowne Active average days on market – 111
Adatowne Pending: 0
Adatowne Sold Listings: 7
Adatowne Average Sold Price – $ 134,400
Adatowne Average sold price/SqFt – $90.01
Adatowne Average Sold days on market –100
MARKET SYNOPSIS: Absorption Rate for Adatowne is 3.44 months,
which means it would take 3.44 months for the active listings to sell,
if no other homes entered the market, according to current sales
statistics. Price per square foot has went up for both sold
and active listings this year, though average sold price went down
by $30K. The market here was all over for price, topping at $133/SqFt
to a bargain $55 a sq ft. The larger homes brought the best price
per sq ft for sellers. Condition continues to be the difference
between getting the best price and selling at rock bottom.
Ada Michigan Real Estate Reports 2009
If you would like more information about Ada or Grand Rapids
Homes, please feel free to contact me directly.
Grand Rapids Ada MI Real Estate – Westbrook Realty
Copyright 2009 All rights reserved
Photo of Ada MI 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 April 1, 2009 to July 30, 2009 real estate
market activity.
Forest Hills MI Listings over $300,000
The absorption rate for Forest Hills MI is 13.3 months, which means if no
new listings come on the market, it will take 13.3 months to sell the existing
$ 300K+ homes at the current rate of sale. This rate is down significantly
from last month, sold prices are inching upward. Inventory is down slightly,
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.
$300,000+ Homes
227 Active Forest Hills Listings
Average price of $626,539
Average price/square foot $202.82
Low price of $305,000
High price of $2,700,000.
Sold Forest Hills Listings 50
Average sold price $478,188
Average Sold price/sq ft $ 162.00
Lowest sold price $310,000
Highest sold price $1,100,000
Pending Listings 18
Forest Hills Active Listings $50,000 – $300,000
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 230
Average Active Price $208,088
Average Active Price/SqFt $118.34
Average Active Days on the Market 105
High Active Price $300,000
Low Active Price $59,900
Sold Forest Hills Listings 119
Average Sold Price $195,384
Average Sold Price/sq ft $101.73
Average Sold Days on the Market 89 Days
High Sold Price $300,000
Low Sold price is $53,000
Pending Sales 49
Market Synopsis: Although the absorption rate is one of the lowest in
the area, for the under 300K homes, this market area is finally seeing
some stabilization in market prices. With less active listings coming on
the market, competition will be tighter for Forest Hills buyers.
Forest Hills MI Top Best Buy Homes ~ July 2009
Forest Hills RE Market Reports 2009
Forest Hills Michigan Public Schools Update 2009
If you would like specific information about an Ada Cascade or
Forest Hills MI Homes, please contact me directly:
email: terry@terrywestbrook.com
ph. 1-888-240-1968 x 0
Grand Rapids Ada Real Estate ~ Westbrook Realty
Copyright 2009 All rights reserved
Photo of Forest Hills Eastern High School by Bonnie Westbrook
Lowell Michigan Real Estate Absorption Report ~ July 2009
Lowell Michigan is located on the Flat River just east of Grand Rapids, MI.
It has really grown in the last 20 years, in many ways. Lowell has a great
school system, a thriving business community, a lively arts society, and
is one of the best kept secrets in Kent County.
These are the statistics for home sales in the Lowell School District.
Active Listings: 177 Active Listings
Average Price: $251,741
Price per Sq Ft: $129.65 (Main Floor only)
Average days on the Market: 180
PENDING: 32 homes
SOLD: 104 Sold Homes
Average Sold Price: $ 146,115
Average Sold Price Per Sq Ft: $ 88.18 (Main floor only)
Average Sold Days on the Market: 103
These stats are figured from Jan 1, 2009 to July 30, 2009
Absorption Rate for Lowell Listings is 9 months for the
current housing inventory. If no other homes enter the market, it
will take 9 months for the current homes to sell at the current
rate of sales. This figure is inching down each month and is
getting closer to the normal range of 6-8 months.
Lowell Homes that are priced competitively are selling.
As you can see by the statistics, the homes that have their price
per square foot under $90 are seeing the most activity. There are
quite a few foreclosure or short sale homes which are bringing
down the average sales price and square footage rates lower than
they might normally be, but average list price is up slightly
and average sold price is up a bit from last months stats.
Some sellers have retired from the market and will try again soon,
filling an already saturated market.
They might find a better buying market, but price is still king.
Today’s buyer is looking for a well priced bargain in great condition.
Lowell Michigan Real Estate Market Reports
Lowell Michigan Top Best Home Buys July 2009
If you would like additional information about Lowell
Area Homes, please contact me through email or my web site.
Grand Rapids Ada Real Estate ~ Westbrook Realty
Copyright 2009 All rights reserved
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