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 seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Forest Park-Morrow, GA

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

Median Sold Price

$230,000

$144/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$600(-0.3%)

Key Takeaway

The sold price of homes in Forest Park-Morrow has remained the same since last year.

Summary: The median home sold price in Forest Park-Morrow was $230,000 in September 2024, down 0.3% from last year, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $60K-
N/A
2 $158K$158K
0.0%
3 $220.5K$216K
-2.0%
4 $270K$269.9K
0%
5+ $294.6K$310K
+5.2%

Summary: Forest Park-Morrow housing prices by bedroom type for September 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 decreased by 2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Cities

Morrow
+1.6%
Rex
+1.3%
Forest Park-Morrow
-0.3%
Forest Park
-3.0%

Housing Supply in Forest Park-Morrow, GA

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

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
430420-2.3%

Summary: The Forest Park-Morrow real estate market had 420 homes for sale in September 2024, a 2.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 3827
-28.9%
3 230225
-2.2%
4 124123
-0.8%
5+ 3845
+18.4%

Summary: The Forest Park-Morrow housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.9%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 18.4%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
12273-40.2%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

17 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. 47.7% of homes here sold below asking price last month.

Summary: A total of 73 homes were sold or pending in Forest Park-Morrow in September 2024, down by 40.2% month-over-month. Of the 65 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% 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

Sep 2023Sep 2024CHANGE
21 Days32 Days+53.4%

Summary: Homes in Forest Park-Morrow had an average of 32 days on market in Sep 2024, up by 53.4% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

7 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 September 2024, 73 homes were sold in Forest Park-Morrow; 67% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 10% 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 30 Days Ago

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