Is Forest Hills, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$475,000
$488/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
The sold price of homes in Forest Hills has remained the same since last year.
Summary: The median home sold price in Forest Hills was $475,000 in June 2024, up 0.5% from last year, and the median price per square foot was $488.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $317.5K | -0.8% |
| 2 Bedrooms | $483K | $505K | +4.6% |
| 3 Bedrooms | $972.5K | $1.0M | +9.5% |
| 4 Bedrooms | $1.6M | $1.4M | -8.1% |
| 5+ Bedrooms | $2.0M | $1.9M | -3.1% |
Summary: Forest Hills housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Kew Gardens Hills | $380K | $425K | +11.8% |
| Rego Park | $395K | $410.6K | +4.0% |
| Forest Hills | $472.7K | $475K | 0.5% |
| Kew Gardens | $336.5K | $302.5K | -10.1% |
Housing Supply in Forest Hills, NY
How many homes are available in Forest Hills, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 333 | 358 | +7.5% |
Summary: The Forest Hills real estate market had 358 homes for sale in June 2024, a 7.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 142 | 154 | +8.5% |
| 2 Bedrooms | 121 | 126 | +4.1% |
| 3 Bedrooms | 37 | 44 | +18.9% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Forest Hills housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 18.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 24 | 32 | +33.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
7 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. 53.1% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Forest Hills in June 2024, up by 33.3% month-over-month. Of the 32 sold homes, 53% were sold under asking, 25% were sold at asking, and 22% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 67 Days | 88 Days | +30.4% |
Summary: Homes in Forest Hills had an average of 88 days on market in Jun 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
11 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 June 2024, 32 homes were sold in Forest Hills; 31% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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