Is Forest Park, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forest Park is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Forest Park was a Seller's Market.

Key Takeaway

Forest Park 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 Park, GA

How much do homes in Forest Park, GA cost?

Median Sold Price

$198,983

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$8,983(+4.7%)

Key Takeaway

Homes in Forest Park have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Forest Park was $198,983 in May 2024, up 4.7% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $60K-
N/A
2 $160K$160K
0.0%
3 $180K$195K
+8.3%
4 $239.7K$230K
-4.0%
5+ $260K$298K
+14.6%

Summary: Forest Park 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 8.3%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 14.6%.

Median Sold Price Compared To Nearby Cities

Lake City
+13.5%
Forest Park
+4.7%
Morrow
+1.2%
Forest Park-Morrow
-1.1%
Conley
-11.5%

Housing Supply in Forest Park, GA

How many homes are available in Forest Park, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
109112+2.8%

Summary: The Forest Park real estate market had 112 homes for sale in May 2024, a 2.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1513
-13.3%
3 6369
+9.5%
4 1821
+16.7%
5+ 139
-30.8%

Summary: The Forest Park 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 decreased by 13.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 30.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2319-17.4%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest Park, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Forest Park in May 2024, down by 17.4% month-over-month. Of the 14 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Forest Park, GA

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

Average Sale Time

May 2023May 2024CHANGE
25 Days34 Days+35.1%

Summary: Homes in Forest Park had an average of 34 days on market in May 2024, up by 35.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 19 homes were sold in Forest Park; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% 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 12 Days Ago

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