Is Forest Hills, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Forest Hills was a Neutral Market.
Housing Prices in Forest Hills, DC
How much do homes in Forest Hills, DC cost?
Median Sold Price
$537,500
$468/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Forest Hills was $537,500 in March 2024, down 22.1% from last year, and the median price per square foot was $468.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $316K | $319.5K | +1.1% |
2 Bedrooms | $535K | $573K | +7.1% |
3 Bedrooms | $1.1M | $874.9K | -26.4% |
4 Bedrooms | $1.6M | $1.7M | +9.6% |
5+ Bedrooms | $2.8M | $5.1M | +78.8% |
Summary: Forest Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 26.4%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 78.8%.
Median Sold Price Compared To Nearby Neighborhoods
Cleveland Park | $474.8K | $500K | +5.3% |
Chevy Chase | $1.3M | $1.3M | +0.9% |
Forest Hills | $690K | $537.5K | -22.1% |
North Cleveland Park / Forest Hills / Van Ness | $1.1M | $587.5K | -47.8% |
Housing Supply in Forest Hills, DC
How many homes are available in Forest Hills, DC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
48 | 43 | -10.4% |
Summary: The Forest Hills real estate market had 43 homes for sale in March 2024, a 10.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 18 | 14 | -22.2% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 3 | 3 | 0.0% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Forest Hills housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 5 | -28.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Forest Hills in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.
Days on Market for Forest Hills, DC
How long does it take to sell a home in Forest Hills, DC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 17 Days | -63.2% |
Summary: Homes in Forest Hills had an average of 17 days on market in Mar 2024, down by 63.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Forest Hills; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.