Is Forest, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forest is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Forest has remained a Seller's Market.

Key Takeaway

Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Forest, VA

How much do homes in Forest, VA cost?

Median Sold Price

$395,000

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$15,000(-3.7%)

Key Takeaway

Homes in Forest have sold for 3.7% less than they did a year ago.

Summary: The median home sold price in Forest was $395,000 in May 2024, down 3.7% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $175K$149.9K
-14.3%
2 $227.4K$250K
+9.9%
3 $344.9K$344.5K
-0.1%
4 $495K$499.9K
+1.0%
5+ $585K$610K
+4.3%

Summary: Forest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 9.9%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Cities

Goode
+18.1%
Sunburst
+9.5%
Timberlake
+3.6%
Jefferson
-1.9%
Forest
-3.7%

Housing Supply in Forest, VA

How many homes are available in Forest, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
70145+107.1%

Summary: The Forest real estate market had 145 homes for sale in May 2024, a 107.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1418
+28.6%
3 2246
+109.1%
4 1449
+250.0%
5+ 1931
+63.2%

Summary: The Forest 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 increased by 28.6%, 3 bedroom homes increased by 109.1%, 4 bedroom homes increased by 250%, and 5+ bedroom homes increased by 63.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2934+17.2%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Forest in May 2024, up by 17.2% month-over-month. Of the 34 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% were sold over asking.

Days on Market for Forest, VA

How long does it take to sell a home in Forest, VA?

Average Sale Time

May 2023May 2024CHANGE
17 Days43 Days+143.3%

Summary: Homes in Forest had an average of 43 days on market in May 2024, up by 143.3% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Forest are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 34 homes were sold in Forest; 47% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Forest, VA

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