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.
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
$475,000
$486/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Forest Hills have sold for 5.6% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Forest Hills, you may be able to get a good deal. 67.6% of homes here sold below asking price last month.
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
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 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.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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