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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forest Park-Morrow is a neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Forest Park-Morrow 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-Morrow, GA

How much do homes in Forest Park-Morrow, GA cost?

Median Sold Price

$230,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$2,621(-1.1%)

Key Takeaway

Homes in Forest Park-Morrow have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in Forest Park-Morrow was $230,000 in May 2024, down 1.1% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $60K-
N/A
2 $147.5K$160K
+8.5%
3 $225K$220K
-2.2%
4 $270K$275K
+1.9%
5+ $310K$310K
0.0%

Summary: Forest Park-Morrow 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 increased by 8.5%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lake City
+13.5%
Forest Park
+4.7%
Morrow
+1.2%
Forest Park-Morrow
-1.1%
Rex
-3.4%

Housing Supply in Forest Park-Morrow, GA

How many homes are available in Forest Park-Morrow, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
390414+6.2%

Summary: The Forest Park-Morrow real estate market had 414 homes for sale in May 2024, a 6.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 3132
+3.2%
3 207234
+13.0%
4 111117
+5.4%
5+ 4131
-24.4%

Summary: The Forest Park-Morrow 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 3.2%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 24.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
9170-23.1%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest Park-Morrow, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.

Summary: A total of 70 homes were sold or pending in Forest Park-Morrow in May 2024, down by 23.1% month-over-month. Of the 60 sold homes, 52% were sold under asking, 23% were sold at asking, and 25% were sold over asking.

Days on Market for Forest Park-Morrow, GA

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

Average Sale Time

May 2023May 2024CHANGE
32 Days40 Days+22.8%

Summary: Homes in Forest Park-Morrow had an average of 40 days on market in May 2024, up by 22.8% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 70 homes were sold in Forest Park-Morrow; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% 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 16 Days Ago

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