Is Forrest, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Forrest is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Forrest, IL

How much do homes in Forrest, IL cost?

Median Sold Price

$116,500

$80/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$10,500(-8.3%)

Key Takeaway

Homes in Forrest have sold for 8.3% less than they did a year ago.

Summary: The median home sold price in Forrest was $116,500 in May 2024, down 8.3% from last year, and the median price per square foot was $80.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $51K-
N/A
2 $127K$125K
-1.6%
3 $152K$99.9K
-34.3%
4 $41K$160K
+290.2%
5+ $291K$200K
-31.3%

Summary: Forrest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 34.3%, 4 bedroom homes increased by 290.2%, and 5+ bedroom homes decreased by 31.3%.

Median Sold Price Compared To Nearby Cities

Forrest
-8.3%
Forrest Township
-15.9%

Housing Supply in Forrest, IL

How many homes are available in Forrest, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
330.0%

Summary: The Forrest real estate market had 3 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 33
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Forrest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Forrest, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Forrest in May 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Forrest, IL

How long does it take to sell a home in Forrest, IL?

Average Sale Time

May 2023May 2024CHANGE
24 Days98 Days+308.3%

Summary: Homes in Forrest had an average of 98 days on market in May 2024, up by 308.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Forrest are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2024, 1 homes were sold in Forrest; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 1 Day Ago

Newest Listings in Forrest, IL

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