Is Forest Park-Morrow, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Forest Park-Morrow was a Seller's Market.
Key Takeaway
Forest Park-Morrow 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-Morrow, GA
How much do homes in Forest Park-Morrow, GA cost?
Median Sold Price
$230,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Forest Park-Morrow have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Forest Park-Morrow was $230,000 in May 2024, down 1.1% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | - | N/A |
| 2 Bedrooms | $147.5K | $160K | +8.5% |
| 3 Bedrooms | $225K | $220K | -2.2% |
| 4 Bedrooms | $270K | $275K | +1.9% |
| 5+ Bedrooms | $310K | $310K | 0.0% |
Summary: Forest Park-Morrow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.5%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake City | $207K | $235K | +13.5% |
| Forest Park | $190K | $198.9K | +4.7% |
| Morrow | $229.5K | $232.3K | +1.2% |
| Forest Park-Morrow | $232.6K | $230K | -1.1% |
| Rex | $263.9K | $255K | -3.4% |
Housing Supply in Forest Park-Morrow, GA
How many homes are available in Forest Park-Morrow, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 390 | 414 | +6.2% |
Summary: The Forest Park-Morrow real estate market had 414 homes for sale in May 2024, a 6.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 31 | 32 | +3.2% |
| 3 Bedrooms | 207 | 234 | +13.0% |
| 4 Bedrooms | 111 | 117 | +5.4% |
| 5+ Bedrooms | 41 | 31 | -24.4% |
Summary: The Forest Park-Morrow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 24.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 91 | 70 | -23.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Park-Morrow, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 70 homes were sold or pending in Forest Park-Morrow in May 2024, down by 23.1% month-over-month. Of the 60 sold homes, 52% were sold under asking, 23% were sold at asking, and 25% were sold over asking.
Days on Market for Forest Park-Morrow, GA
How long does it take to sell a home in Forest Park-Morrow, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 40 Days | +22.8% |
Summary: Homes in Forest Park-Morrow had an average of 40 days on market in May 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Park-Morrow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 70 homes were sold in Forest Park-Morrow; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.