Is Forest Hills, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forest Hills has remained a Seller's Market.
Housing Prices in Forest Hills, TN
How much do homes in Forest Hills, TN cost?
Median Sold Price
$1,850,000
$456/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forest Hills was $1,850,000 in May 2024, down 13.4% from last year, and the median price per square foot was $456.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $1.2M | $1.1M | -7.5% |
4 Bedrooms | $1.5M | $1.6M | +8.5% |
5+ Bedrooms | $2.6M | $3.4M | +31.5% |
Summary: Forest Hills 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 did not change, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 31.5%.
Housing Supply in Forest Hills, TN
How many homes are available in Forest Hills, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 55 | -1.8% |
Summary: The Forest Hills real estate market had 55 homes for sale in May 2024, a 1.8% decrease 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 | 0 | 0 | 0.0% |
3 Bedrooms | 15 | 10 | -33.3% |
4 Bedrooms | 19 | 15 | -21.1% |
5+ Bedrooms | 22 | 30 | +36.4% |
Summary: The Forest Hills 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 remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 14 | +7.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Forest Hills in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 71% were sold under asking, 29% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 37 Days | +33.5% |
Summary: Homes in Forest Hills had an average of 37 days on market in May 2024, up by 33.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Forest Hills; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.