This Month in Forest Hills Real Estate: April 2012

Forest Hills Real Estate Market Update: April 2012
The Forest Hills real estate market experienced a 2% increase in March. The median home sale price overall for March was $260,000 which is up from $255,000 in 2011 and down from $270,000 2 years ago. There are currently 462 homes for sale in Forest Hills, and of the current available inventory, the median list price is $259,400. The median home sale price in March was $260,000 which could mean that Forest Hills home sellers are pricing their homes to sell!
The median home sale price for Residential (Single/Multi-Family) Forest Hills Homes in March was $677,000 in March. That’s down from $687,000 last year and also down from $682,500 2 years ago. The difference is very minimal so this could be a sign of market stabilization over the past few years. We should begin to see an increase in Forest Hills home values as the economic outlook for this year remains positive, however, it won’t be dramatic.  
The median home sale price for Forest Hills Condos in March was $567,500. This is up from 385,000 in 2011 and also up from $392,000 2 years ago. Based on this information, it looks like the values of Forest Hills Condos may be appreciating! However, you should review a Comparative Market Analysis for your specific neighborhood to be see how much your Condo is worth now.  
The median home sale price for Forest Hills Coops in March was $225,000. That’s down from $233,000 last year also down from $240,000 2 years ago. Based on this information, it looks like Forest Hills Coop values are still be depreciating. However, the economic outlook remains positive so we should see the values begin to stabilize, and eventually increase.
All in all, the Forest Hills real estate market seems to be slowly appreciating. Overall we have seen a median low point of $250,000 and a high point of $270,000 in the last 2 years. So, if you’re thinking of selling your Forest Hills home, or if you are just curious what your home is worth, you should request a comparative market analysis for your home and see exactly where your home stands in today’s market.
For more Queens real estate market information, visit: www.abigailSELLS.com – Call: 718-475-2742 – or Text: 718-968-5538
…This blog brought to you by Abigail Herrera with Keller Williams Realty Landmark.
Lic. RE Salesperson | Internet Marketing Specialist | Certified Buyer Representative
your friend. your neighbor. your Realtor.
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