Is Forest Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, MD
How much do homes in Forest Park, MD cost?
Median Sold Price
$199,700
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Forest Park have sold for 14.7% less than they did a year ago.
Summary: The median home sold price in Forest Park was $199,700 in April 2024, down 14.7% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $57K | N/A |
| 2 Bedrooms | - | $65K | N/A |
| 3 Bedrooms | $130K | $155K | +19.2% |
| 4 Bedrooms | $266K | $147.5K | -44.5% |
| 5+ Bedrooms | $250K | $373.5K | +49.4% |
Summary: Forest Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 19.2%, 4 bedroom homes decreased by 44.5%, and 5+ bedroom homes increased by 49.4%.
Housing Supply in Forest Park, MD
How many homes are available in Forest Park, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Summary: The Forest Park real estate market had 10 homes for sale in April 2024, a 23.1% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Forest Park 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Forest Park in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Forest Park, MD
How long does it take to sell a home in Forest Park, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 5 Days | 10 Days | +76.5% |
Summary: Homes in Forest Park had an average of 10 days on market in Apr 2024, up by 76.5% compared to last year.
Breakdown of Home Sale Times
2 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 Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Forest Park; 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.
