Is Forest Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Forest Park has remained a Seller's Market.
Housing Prices in Forest Park, IL
How much do homes in Forest Park, IL cost?
Median Sold Price
$300,666
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Forest Park was $300,666 in June 2024, up 15.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $124.1K | $126K | +1.5% |
2 Bedrooms | $210K | $250.5K | +19.3% |
3 Bedrooms | $371.7K | $357.5K | -3.8% |
4 Bedrooms | $455K | $479K | +5.3% |
5+ Bedrooms | $430K | $480K | +11.6% |
Summary: Forest Park housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 19.3%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
River Forest Township | $482K | $560K | +16.2% |
River Forest | $482K | $560K | +16.2% |
Forest Park | $260K | $300.6K | +15.6% |
Maywood | $230K | $245K | +6.5% |
North Riverside | $310K | $329.2K | +6.2% |
Housing Supply in Forest Park, IL
How many homes are available in Forest Park, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
77 | 93 | +20.8% |
Summary: The Forest Park real estate market had 93 homes for sale in June 2024, a 20.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 14 | 0.0% |
2 Bedrooms | 19 | 30 | +57.9% |
3 Bedrooms | 22 | 23 | +4.5% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Forest Park housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
21 | 24 | +14.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Forest Park in June 2024, up by 14.3% month-over-month. Of the 24 sold homes, 33% were sold under asking, 13% were sold at asking, and 54% were sold over asking.
Days on Market for Forest Park, IL
How long does it take to sell a home in Forest Park, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
16 Days | 10 Days | -37.6% |
Summary: Homes in Forest Park had an average of 10 days on market in Jun 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 24 homes were sold in Forest Park; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.