Is Forest Park, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Forest Park was a Buyer's Market.
Key Takeaway
Forest Park 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 Park, OR
How much do homes in Forest Park, OR cost?
Median Sold Price
$1,025,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Forest Park have sold for 10.5% less than they did a year ago.
Summary: The median home sold price in Forest Park was $1,025,000 in April 2024, down 10.5% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $329K | - | N/A |
| 2 Bedrooms | $475K | $190K | -60.0% |
| 3 Bedrooms | $847.5K | $1.0M | +20.9% |
| 4 Bedrooms | $1.2M | $975K | -23.4% |
| 5+ Bedrooms | $1.1M | $1.1M | 0.4% |
Summary: Forest Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 20.9%, 4 bedroom homes decreased by 23.4%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Neighborhoods
| West-Northwest Portland | $512.2K | $548K | +7.0% |
| Forest Park | $1.1M | $1.0M | -10.5% |
Housing Supply in Forest Park, OR
How many homes are available in Forest Park, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 37 | +32.1% |
Summary: The Forest Park real estate market had 37 homes for sale in April 2024, a 32.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Forest Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Forest Park in April 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Forest Park, OR
How long does it take to sell a home in Forest Park, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 49 Days | -23.8% |
Summary: Homes in Forest Park had an average of 49 days on market in Apr 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Forest Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Forest Park; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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