Is Forest Hill, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Forest Hill was a Seller's Market.
Key Takeaway
Forest Hill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Forest Hill, MD
How much do homes in Forest Hill, MD cost?
Median Sold Price
$439,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Forest Hill have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Forest Hill was $439,000 in April 2024, up 7.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141K | $170K | +20.6% |
| 2 Bedrooms | $239.7K | $255K | +6.4% |
| 3 Bedrooms | $362.5K | $385K | +6.2% |
| 4 Bedrooms | $622.5K | $560K | -10.0% |
| 5+ Bedrooms | $872.5K | $674.9K | -22.6% |
Summary: Forest Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 22.6%.
Median Sold Price Compared To Nearby Cities
| Jarrettsville | $441K | $550K | +24.7% |
| Forest Hill | $407.5K | $439K | +7.7% |
| Fallston | $540K | $530K | -1.9% |
Housing Supply in Forest Hill, MD
How many homes are available in Forest Hill, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 42 | +5.0% |
Summary: The Forest Hill real estate market had 42 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The Forest Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 5 | -61.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Hill, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Forest Hill in April 2024, down by 61.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Forest Hill, MD
How long does it take to sell a home in Forest Hill, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 4 Days | -86.4% |
Summary: Homes in Forest Hill had an average of 4 days on market in Apr 2024, down by 86.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Forest Hill; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
