Is Forest Heights, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Forest Heights was a Seller's Market.
Key Takeaway
Forest Heights is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Forest Heights, MD
How much do homes in Forest Heights, MD cost?
Median Sold Price
$350,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Forest Heights have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Forest Heights was $350,000 in May 2024, up 7.7% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $308K | N/A |
| 3 Bedrooms | $305.5K | $320K | +4.7% |
| 4 Bedrooms | $345K | $358.5K | +3.9% |
| 5+ Bedrooms | $433.9K | $415.2K | -4.3% |
Summary: Forest Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 4.3%.
Housing Supply in Forest Heights, MD
How many homes are available in Forest Heights, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 12 | +140.0% |
Summary: The Forest Heights real estate market had 12 homes for sale in May 2024, a 140.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 6 | +200.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Forest Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Heights, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Forest Heights in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Forest Heights, MD
How long does it take to sell a home in Forest Heights, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 10 Days | -77.9% |
Summary: Homes in Forest Heights had an average of 10 days on market in May 2024, down by 77.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Forest Heights; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
