$10,000 Closing Credit*
$2,150,000
4,613 SqFt
4 Beds
•3 Full Baths, 1 Partial
Caroline Armstrong, Listing Office: WH Properties
Is Forest Hills, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Forest Hills has remained a Seller's Market.
Key Takeaway
Forest Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Forest Hills, TN
How much do homes in Forest Hills, TN cost?
Median Sold Price
$2,125,000
$471/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$125,000(+6.3%)
Key Takeaway
Homes in Forest Hills have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Forest Hills was $2,125,000 in October 2024, up 6.3% from last year, and the median price per square foot was $471.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.2M | $1.1M | -8.8% |
| 4 Bedrooms | $1.6M | $2.1M | +31.3% |
| 5+ Bedrooms | $3.3M | $3.0M | -9.8% |
Summary: Forest Hills housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes decreased by 9.8%.
Housing Supply in Forest Hills, TN
How many homes are available in Forest Hills, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 48 | +4.3% |
Summary: The Forest Hills real estate market had 48 homes for sale in October 2024, a 4.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 22 | 24 | +9.1% |
Summary: The Forest Hills 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Hills, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Forest Hills in October 2024, up by 150.0% month-over-month. Of the 10 sold homes, 90% were sold under asking, 10% were sold at asking, and 0% were sold over asking.
Days on Market for Forest Hills, TN
How long does it take to sell a home in Forest Hills, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 15 Days | -67.7% |
Summary: Homes in Forest Hills had an average of 15 days on market in Oct 2024, down by 67.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Hills are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Forest Hills; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.