Is Forest Hills, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Forest Hills has remained a Buyer's Market.
Key Takeaway
Forest Hills is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Forest Hills, NY
How much do homes in Forest Hills, NY cost?
Median Sold Price
$482,062
$477/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Forest Hills have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Forest Hills was $482,062 in March 2024, up 1.8% from last year, and the median price per square foot was $477.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $324K | $321.2K | -0.8% |
| 2 Bedrooms | $480K | $500K | +4.2% |
| 3 Bedrooms | $992K | $999K | +0.7% |
| 4 Bedrooms | $1.6M | $1.4M | -9.1% |
| 5+ Bedrooms | $2.1M | $2.0M | -3.5% |
Summary: Forest Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Kew Gardens Hills | $374.6K | $425K | +13.4% |
| Rego Park | $390K | $400K | +2.6% |
| Forest Hills | $473.5K | $482K | +1.8% |
| Kew Gardens | $324K | $320.7K | -1.0% |
Housing Supply in Forest Hills, NY
How many homes are available in Forest Hills, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 334 | 369 | +10.5% |
Summary: The Forest Hills real estate market had 369 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 143 | 152 | +6.3% |
| 2 Bedrooms | 130 | 142 | +9.2% |
| 3 Bedrooms | 26 | 37 | +42.3% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Forest Hills housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 42.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Hills, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Forest Hills in March 2024, up by 14.3% month-over-month. Of the 24 sold homes, 75% were sold under asking, 21% were sold at asking, and 4% were sold over asking.
Days on Market for Forest Hills, NY
How long does it take to sell a home in Forest Hills, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 153 Days | 163 Days | +5.9% |
Summary: Homes in Forest Hills had an average of 163 days on market in Mar 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Forest Hills are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 24 homes were sold in Forest Hills; 8% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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