Is Forest, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forest has remained a Seller's Market.
Housing Prices in Forest, VA
How much do homes in Forest, VA cost?
Median Sold Price
$395,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forest was $395,000 in May 2024, down 3.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $149.9K | -14.3% |
2 Bedrooms | $227.4K | $250K | +9.9% |
3 Bedrooms | $344.9K | $344.5K | -0.1% |
4 Bedrooms | $495K | $499.9K | +1.0% |
5+ Bedrooms | $585K | $610K | +4.3% |
Summary: Forest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 9.9%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 4.3%.
Housing Supply in Forest, VA
How many homes are available in Forest, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 145 | +107.1% |
Summary: The Forest real estate market had 145 homes for sale in May 2024, a 107.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 14 | 18 | +28.6% |
3 Bedrooms | 22 | 46 | +109.1% |
4 Bedrooms | 14 | 49 | +250.0% |
5+ Bedrooms | 19 | 31 | +63.2% |
Summary: The Forest 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 increased by 28.6%, 3 bedroom homes increased by 109.1%, 4 bedroom homes increased by 250%, and 5+ bedroom homes increased by 63.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 34 | +17.2% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Forest in May 2024, up by 17.2% month-over-month. Of the 34 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% were sold over asking.
Days on Market for Forest, VA
How long does it take to sell a home in Forest, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 43 Days | +143.3% |
Summary: Homes in Forest had an average of 43 days on market in May 2024, up by 143.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in Forest; 47% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.