Is Forest Park, IL 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 July 2021

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.

How much do homes in Forest Park, IL cost?

Median Sold Price

$293,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$13,000(+4.6%)

Key Takeaway

Homes in Forest Park have sold for 4.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $116K$114.9K
-0.9%
2 $246.2K$245K
-0.5%
3 $335K$373.5K
+11.5%
4 $412K$430K
+4.4%
5+ $445K$435K
-2.2%

Median Sold Price Compared To Nearby Cities

North Riverside
+9.6%
Maywood
+9.3%
Forest Park
+4.6%
River Forest
-10.3%
River Forest Township
-10.3%

How many homes are available in Forest Park, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
118127+7.6%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 3531
-11.4%
2 2627
+3.8%
3 2430
+25.0%
4 2027
+35.0%
5+ 1312
-7.7%

Number of Homes Sold

Jun 2022Jul 2022%
3721-43.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 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. 61.9% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
13 Days45 Days+247.3%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Forest Park, IL

There are 127 homes are for sale in Forest Park, IL real estate market. In July 2022 in Forest Park, IL there were 7.6% more homes for sale than in June 2022. Listings spent 45 days on the market in July 2022, and had a median list price of $293,000 during the same period. This housing market listing prices have changed between June 2022 and July 2022: the cost of 1 bedroom properties went down by 0.9%, 2 bedrooms properties prices decreased by 0.5%, the cost of 3 bedrooms properties went up by 11.5%, 4 bedrooms properties prices increased by 4.4%, prices of 5 bedrooms properties decreased by 2.2%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 11.4%, 2 bedrooms homes became 3.8% more available, 3 bedrooms homes became 25% more available, 4 bedrooms homes inventory increased by 35%, the quantity of 5 bedrooms homes went down by 7.7%. While more than 6 listings in Forest Park, IL in July 2022 were sold above asking price, there were more than 2 listings sold at asking price, and more than 13 were sold below.

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