Is West Forest Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Forest Park has remained a Seller's Market.
Key Takeaway
West Forest Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Forest Park, MD
How much do homes in West Forest Park, MD cost?
Median Sold Price
$212,500
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Forest Park have sold for 45.3% more than they did a year ago.
Summary: The median home sold price in West Forest Park was $212,500 in May 2024, up 45.3% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $97.5K | $100K | +2.6% |
| 4 Bedrooms | $225K | $212.5K | -5.6% |
| 5+ Bedrooms | $385K | $267.5K | -30.5% |
Summary: West Forest Park housing prices by bedroom type for May 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 2.6%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 30.5%.
Housing Supply in West Forest Park, MD
How many homes are available in West Forest Park, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Summary: The West Forest Park real estate market had 15 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The West Forest Park housing inventory by bedroom type for May 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 increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in West Forest Park, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in West Forest Park in May 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for West Forest Park, MD
How long does it take to sell a home in West Forest Park, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 34 Days | +423.1% |
Summary: Homes in West Forest Park had an average of 34 days on market in May 2024, up by 423.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Forest Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in West Forest Park; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
