Is Park Forest, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Park Forest was a Seller's Market.
Housing Prices in Park Forest, IL
How much do homes in Park Forest, IL cost?
Median Sold Price
$140,000
$107/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Summary: The median home sold price in Park Forest was $140,000 in March 2024, the same as last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $95K | $110K | +15.8% |
3 Bedrooms | $152K | $144.5K | -4.9% |
4 Bedrooms | $169.9K | $176K | +3.6% |
5+ Bedrooms | $205K | $177.5K | -13.4% |
Summary: Park Forest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.8%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 13.4%.
Median Sold Price Compared To Nearby Cities
Richton Park | $175K | $195K | +11.4% |
Olympia Fields | $320K | $324.6K | +1.5% |
Park Forest | $140K | $140K | 0.0% |
University Park | $176.5K | $175K | -0.8% |
Monee Township | $224.9K | $203.3K | -9.6% |
Housing Supply in Park Forest, IL
How many homes are available in Park Forest, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
136 | 151 | +11.0% |
Summary: The Park Forest real estate market had 151 homes for sale in March 2024, a 11.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 26 | 32 | +23.1% |
3 Bedrooms | 76 | 84 | +10.5% |
4 Bedrooms | 33 | 33 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Park Forest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 18 | -37.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Park Forest in March 2024, down by 37.9% month-over-month. Of the 18 sold homes, 39% were sold under asking, 33% were sold at asking, and 28% were sold over asking.
Days on Market for Park Forest, IL
How long does it take to sell a home in Park Forest, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 40 Days | +23.8% |
Summary: Homes in Park Forest had an average of 40 days on market in Mar 2024, up by 23.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Park Forest; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.