Is Forest Township, MI 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, Forest Township was a Seller's Market.
Key Takeaway
Forest Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Forest Township, MI
How much do homes in Forest Township, MI cost?
Median Sold Price
$178,150
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Forest Township have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Forest Township was $178,150 in March 2024, down 2.7% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65K | $325K | +400.0% |
| 2 Bedrooms | $150.5K | $120K | -20.3% |
| 3 Bedrooms | $184K | $170K | -7.6% |
| 4 Bedrooms | $212K | $220K | +3.8% |
| 5+ Bedrooms | $423K | $295K | -30.3% |
Summary: Forest Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 400%, 2 bedroom homes decreased by 20.3%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 30.3%.
Median Sold Price Compared To Nearby Cities
| Marathon Township | $205K | $249K | +21.5% |
| Millington Township | $173K | $176K | +1.7% |
| Forest Township | $183K | $178.1K | -2.7% |
Housing Supply in Forest Township, MI
How many homes are available in Forest Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Summary: The Forest Township real estate market had 6 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Forest Township housing inventory by bedroom type for March 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 increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Forest Township in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Forest Township, MI
How long does it take to sell a home in Forest Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Forest Township has remained consistent over time.
Summary: During March 2024, 1 homes were sold in Forest Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
