Is Forest Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$280,166
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Forest Park was $280,166 in March 2024, down 3.2% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.7K | $126.9K | +7.8% |
2 Bedrooms | $235K | $183.7K | -21.8% |
3 Bedrooms | $370K | $365K | -1.4% |
4 Bedrooms | $460K | $450K | -2.2% |
5+ Bedrooms | $425K | $475K | +11.8% |
Summary: Forest Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes decreased by 21.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
North Riverside | $300.2K | $329.5K | +9.7% |
Maywood | $245K | $245K | 0.0% |
Forest Park | $289.4K | $280.1K | -3.2% |
River Forest Township | $520K | $495K | -4.8% |
River Forest | $520K | $495K | -4.8% |
Housing Supply in Forest Park, IL
How many homes are available in Forest Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
54 | 67 | +24.1% |
Summary: The Forest Park real estate market had 67 homes for sale in March 2024, a 24.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 14 | 22 | +57.1% |
4 Bedrooms | 17 | 17 | 0.0% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Forest Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 57.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 16 | +23.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Forest Park in March 2024, up by 23.1% month-over-month. Of the 16 sold homes, 44% were sold under asking, 31% were sold at asking, and 25% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 14 Days | -58.8% |
Summary: Homes in Forest Park had an average of 14 days on market in Mar 2024, down by 58.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Forest Park; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.