Is Forest Hills, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forest Hills has remained a Buyer's Market.
Housing Prices in Forest Hills, NY
How much do homes in Forest Hills, NY cost?
Median Sold Price
$484,250
$478/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forest Hills was $484,250 in May 2024, up 2.1% from last year, and the median price per square foot was $478.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $320K | $326.5K | +2.0% |
2 Bedrooms | $488K | $505K | +3.5% |
3 Bedrooms | $970K | $1.0M | +8.8% |
4 Bedrooms | $1.6M | $1.4M | -7.9% |
5+ Bedrooms | $2.1M | $1.9M | -8.2% |
Summary: Forest Hills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Neighborhoods
Kew Gardens Hills | $375K | $425K | +13.3% |
Rego Park | $388K | $410K | +5.7% |
Forest Hills | $474.2K | $484.2K | +2.1% |
Kew Gardens | $328K | $313.5K | -4.4% |
Housing Supply in Forest Hills, NY
How many homes are available in Forest Hills, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
346 | 357 | +3.2% |
Summary: The Forest Hills real estate market had 357 homes for sale in May 2024, a 3.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 140 | 151 | +7.9% |
2 Bedrooms | 133 | 126 | -5.3% |
3 Bedrooms | 35 | 42 | +20.0% |
4 Bedrooms | 20 | 20 | 0.0% |
5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Forest Hills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.9%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 20 | -39.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Forest Hills in May 2024, down by 39.4% month-over-month. Of the 20 sold homes, 80% were sold under asking, 15% were sold at asking, and 5% were sold over asking.
Days on Market for Forest Hills, NY
How long does it take to sell a home in Forest Hills, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
157 Days | 92 Days | -41.2% |
Summary: Homes in Forest Hills had an average of 92 days on market in May 2024, down by 41.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Forest Hills; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.