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 October 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

$220,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+12.8%)

Key Takeaway

Homes in Forest City have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Forest City was $220,000 in October 2024, up 12.8% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $255K$102.7K
-59.7%
2 $161K$163.4K
+1.5%
3 $198K$230.2K
+16.3%
4 $275K$305K
+10.9%
5+ $238K$265K
+11.3%

Summary: Forest City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.7%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 11.3%.

Median Sold Price Compared To Nearby Cities

Forest City
+12.8%
Rutherfordton Township
+10.4%
Cool Spring Township
+10.2%
Spindale
+7.0%

Housing Supply in Forest City, NC

How many homes are available in Forest City, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9591-4.2%

Summary: The Forest City real estate market had 91 homes for sale in October 2024, a 4.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1713
-23.5%
3 5857
-1.7%
4 1212
0.0%
5+ 67
+16.7%

Summary: The Forest City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.5%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1216+33.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 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 City, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Forest City in October 2024, up by 33.3% month-over-month. Of the 16 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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

Oct 2023Oct 2024CHANGE
49 Days39 Days-20.8%

Summary: Homes in Forest City had an average of 39 days on market in Oct 2024, down by 20.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 16 homes were sold in Forest City; 56% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 19% 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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