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 October 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

$313,250

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$43,350(+16.1%)

Key Takeaway

Homes in Forest Park have sold for 16.1% more than they did a year ago.

Summary: The median home sold price in Forest Park was $313,250 in October 2024, up 16.1% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $125K$137.5K
+10.0%
2 $220K$250.2K
+13.8%
3 $350K$376K
+7.4%
4 $440K$441.5K
0.3%
5+ $407.5K$480K
+17.8%

Summary: Forest Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 17.8%.

Median Sold Price Compared To Nearby Cities

Forest Park
+16.1%
River Forest Township
+15.7%
River Forest
+15.7%
Maywood
+4.6%
North Riverside
+3.1%

Housing Supply in Forest Park, IL

How many homes are available in Forest Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5867+15.5%

Summary: The Forest Park real estate market had 67 homes for sale in October 2024, a 15.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1310
-23.1%
2 1316
+23.1%
3 1823
+27.8%
4 1014
+40.0%
5+ 44
0.0%

Summary: The Forest Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 23.1%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1413-7.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

2 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. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Forest Park in October 2024, down by 7.1% month-over-month. Of the 13 sold homes, 46% were sold under asking, 38% were sold at asking, and 15% 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

Oct 2023Oct 2024CHANGE
28 Days44 Days+55.0%

Summary: Homes in Forest Park had an average of 44 days on market in Oct 2024, up by 55% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Forest Park has remained consistent over time.

Summary: During October 2024, 13 homes were sold in Forest Park; 38% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 8% 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 20 Days Ago

Newest Listings in Forest Park, IL

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