$275,000
2.11 Acres
Land
Michael P Scheffenacker, Listing Office: Long & Foster Real Estate, Inc.
Is Forest Hill, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Forest Hill has remained a Seller's Market.
Key Takeaway
Forest Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Forest Hill, MD
How much do homes in Forest Hill, MD cost?
Median Sold Price
$465,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$65,050(+16.3%)
Key Takeaway
Homes in Forest Hill have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Forest Hill was $465,000 in September 2024, up 16.3% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | - | N/A |
| 2 Bedrooms | $267.7K | $286K | +6.8% |
| 3 Bedrooms | $379.9K | $395K | +4.0% |
| 4 Bedrooms | $597.5K | $600K | 0.4% |
| 5+ Bedrooms | $840K | $674.9K | -19.7% |
Summary: Forest Hill housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 19.7%.
Median Sold Price Compared To Nearby Cities
| Forest Hill | $399.9K | $465K | +16.3% |
| Jarrettsville | $530K | $550K | +3.8% |
| Street | $505K | $520K | +3.0% |
| Fallston | $553.7K | $536.7K | -3.1% |
Housing Supply in Forest Hill, MD
How many homes are available in Forest Hill, MD?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 52 | 59 | +13.5% |
Summary: The Forest Hill real estate market had 59 homes for sale in September 2024, a 13.5% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 10 | +66.7% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 18 | 25 | +38.9% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Forest Hill housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Hill, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Forest Hill in September 2024, down by 6.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% were sold over asking.
Days on Market for Forest Hill, MD
How long does it take to sell a home in Forest Hill, MD?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 8 Days | 22 Days | +167.2% |
Summary: Homes in Forest Hill had an average of 22 days on market in Sep 2024, up by 167.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Forest Hill are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 15 homes were sold in Forest Hill; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
