Is Forest, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Forest has remained a Seller's Market.
Key Takeaway
Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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 April 2023
Key Takeaway
Homes in Forest have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Forest was $395,000 in April 2024, down 3.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $149.9K | -14.3% |
| 2 Bedrooms | $229.9K | $245K | +6.5% |
| 3 Bedrooms | $329K | $343.5K | +4.4% |
| 4 Bedrooms | $489.9K | $499.9K | +2.0% |
| 5+ Bedrooms | $584.5K | $615K | +5.2% |
Summary: Forest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 5.2%.
Housing Supply in Forest, VA
How many homes are available in Forest, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 | 103 | +47.1% |
Summary: The Forest real estate market had 103 homes for sale in April 2024, a 47.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 9 | 21 | +133.3% |
| 3 Bedrooms | 24 | 30 | +25.0% |
| 4 Bedrooms | 24 | 28 | +16.7% |
| 5+ Bedrooms | 13 | 23 | +76.9% |
Summary: The Forest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 133.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 76.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 29 | +3.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest, expect to pay close to the asking price. 51.7% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Forest in April 2024, up by 3.6% month-over-month. Of the 29 sold homes, 24% were sold under asking, 52% were sold at asking, and 24% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 23 Days | -34.3% |
Summary: Homes in Forest had an average of 23 days on market in Apr 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 29 homes were sold in Forest; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.