Is Forest Hills, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Forest Hills was a Neutral Market.
Housing Prices in Forest Hills, NY
How much do homes in Forest Hills, NY cost?
Median Sold Price
$475,000
$486/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Forest Hills was $475,000 in November 2023, up 5.6% from last year, and the median price per square foot was $486.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $320K | -4.5% |
2 Bedrooms | $480K | $480K | 0.0% |
3 Bedrooms | $995K | $970K | -2.5% |
4 Bedrooms | $1.5M | $1.4M | -7.3% |
5+ Bedrooms | $1.7M | $2.0M | +17.3% |
Summary: Forest Hills housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Neighborhoods
Forest Hills | $450K | $475K | +5.6% |
Kew Gardens | $340K | $342.5K | +0.7% |
Rego Park | $395K | $390K | -1.3% |
Kew Gardens Hills | $403.7K | $392.8K | -2.7% |
Housing Supply in Forest Hills, NY
How many homes are available in Forest Hills, NY?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
367 | 367 | 0.0% |
Summary: The Forest Hills real estate market had 367 homes for sale in November 2023, the same as October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 158 | 160 | +1.3% |
2 Bedrooms | 125 | 127 | +1.6% |
3 Bedrooms | 41 | 41 | 0.0% |
4 Bedrooms | 28 | 22 | -21.4% |
5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Forest Hills housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 1.6%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
36 | 34 | -5.6% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Forest Hills in November 2023, down by 5.6% month-over-month. Of the 34 sold homes, 68% were sold under asking, 18% were sold at asking, and 15% 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
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
123 Days | 86 Days | -29.8% |
Summary: Homes in Forest Hills had an average of 86 days on market in Nov 2023, down by 29.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During November 2023, 34 homes were sold in Forest Hills; 12% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 41% of homes were sold over 90 days.