Is Forest Hills, TN 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 Seller'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, TN
How much do homes in Forest Hills, TN cost?
Median Sold Price
$1,962,500
$439/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Forest Hills have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Forest Hills was $1,962,500 in November 2023, down 6.5% from last year, and the median price per square foot was $439.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.3M | - | N/A |
| 3 Bedrooms | $1.3M | $1.1M | -18.5% |
| 4 Bedrooms | $1.5M | $1.6M | +7.7% |
| 5+ Bedrooms | $2.7M | $3.2M | +15.3% |
Summary: Forest Hills housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 18.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 15.3%.
Housing Supply in Forest Hills, TN
How many homes are available in Forest Hills, TN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 44 | 46 | +4.5% |
Summary: The Forest Hills real estate market had 46 homes for sale in November 2023, a 4.5% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Forest Hills housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Hills, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Forest Hills in November 2023, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Forest Hills, TN
How long does it take to sell a home in Forest Hills, TN?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 50 Days | 28 Days | -43.0% |
Summary: Homes in Forest Hills had an average of 28 days on market in Nov 2023, down by 43% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Forest Hills are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 4 homes were sold in Forest Hills; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2023 of the REALTRACS MLS. All rights Reserved.