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 seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

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

+$40,666(+15.6%)

Key Takeaway

Homes in Forest Park have sold for 15.6% more than they did a year ago.

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

# BEDSJun 2023Jun 2024CHANGE
1 $124.1K$126K
+1.5%
2 $210K$250.5K
+19.3%
3 $371.7K$357.5K
-3.8%
4 $455K$479K
+5.3%
5+ $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
+16.2%
River Forest
+16.2%
Forest Park
+15.6%
Maywood
+6.5%
North Riverside
+6.2%

Housing Supply in Forest Park, IL

How many homes are available in Forest Park, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
7793+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

# BEDSMay 2024Jun 2024CHANGE
1 1414
0.0%
2 1930
+57.9%
3 2223
+4.5%
4 1619
+18.8%
5+ 67
+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 2024Jun 2024CHANGE
2124+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest Park, you could pay more than the asking price. 54.2% of homes here sold above asking price last month.

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 2023Jun 2024CHANGE
16 Days10 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 26 Days Ago

Newest Listings in Forest Park, IL

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