Is Forest City, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forest City is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Forest City, NC

How much do homes in Forest City, NC cost?

Median Sold Price

$225,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,250(+15.5%)

Key Takeaway

Homes in Forest City have sold for 15.5% more than they did a year ago.

Summary: The median home sold price in Forest City was $225,000 in November 2024, up 15.5% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $255K$131.5K
-48.4%
2 $160K$158.5K
-0.9%
3 $198.9K$235K
+18.1%
4 $275K$305K
+10.9%
5+ $238K$265K
+11.3%

Summary: Forest City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.4%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 11.3%.

Median Sold Price Compared To Nearby Cities

Cool Spring Township
+16.2%
Forest City
+15.5%
Spindale
+15.4%
Rutherfordton Township
+8.4%

Housing Supply in Forest City, NC

How many homes are available in Forest City, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9195+4.4%

Summary: The Forest City real estate market had 95 homes for sale in November 2024, a 4.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 1314
+7.7%
3 5660
+7.1%
4 1313
0.0%
5+ 77
0.0%

Summary: The Forest City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
17170.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forest City, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Forest City in November 2024, the same as the previous month. Of the 16 sold homes, 63% were sold under asking, 19% were sold at asking, and 19% were sold over asking.

Days on Market for Forest City, NC

How long does it take to sell a home in Forest City, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
30 Days54 Days+80.4%

Summary: Homes in Forest City had an average of 54 days on market in Nov 2024, up by 80.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

8 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 City has remained consistent over time.

Summary: During November 2024, 17 homes were sold in Forest City; 41% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 6% 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 17 Days Ago

Newest Listings in Forest City, NC

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