Is Forest Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forest Park is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Forest Park has remained a Seller's Market.

Key Takeaway

Forest Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Forest Park, IL

How much do homes in Forest Park, IL cost?

Median Sold Price

$330,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$63,750(+23.9%)

Key Takeaway

Homes in Forest Park have sold for 23.9% more than they did a year ago.

Summary: The median home sold price in Forest Park was $330,000 in November 2024, up 23.9% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $125K$132K
+5.6%
2 $210K$272.5K
+29.8%
3 $343K$382.5K
+11.5%
4 $450K$448K
-0.4%
5+ $447.5K$475K
+6.1%

Summary: Forest Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 29.8%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 6.1%.

Median Sold Price Compared To Nearby Cities

Forest Park
+23.9%
River Forest Township
+22.7%
River Forest
+22.7%
North Riverside
+2.1%
Maywood
-0.2%

Housing Supply in Forest Park, IL

How many homes are available in Forest Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6263+1.6%

Summary: The Forest Park real estate market had 63 homes for sale in November 2024, a 1.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 911
+22.2%
2 1516
+6.7%
3 2120
-4.8%
4 1311
-15.4%
5+ 45
+25.0%

Summary: The Forest Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1617+6.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest Park, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Forest Park in November 2024, up by 6.3% month-over-month. Of the 17 sold homes, 59% were sold under asking, 18% were sold at asking, and 24% were sold over asking.

Days on Market for Forest Park, IL

How long does it take to sell a home in Forest Park, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
8 Days21 Days+149.7%

Summary: Homes in Forest Park had an average of 21 days on market in Nov 2024, up by 149.7% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Forest Park are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 17 homes were sold in Forest Park; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Forest Park, IL

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