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.
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
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
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
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.