Forest Park, IL Foreclosures
How much do homes sell for in Forest Park, IL?
The average home price is currently $340,625.
In Forest Park, IL, how many homes are available?
There are currently 12,105 active home listings available in Forest Park.
What’s the average rental cost in Forest Park, IL?
The average rental price in Forest Park is $1,568.
What is the most expensive home in Forest Park?
The most expensive home sold in Forest Park had a price of $15,603,953.
What is currently the cheapest priced home in Forest Park, IL?
The cheapest home for sale in Forest Park is priced at $50,031.
Living in Forest Park, IL
Forest Park, IL is a charming suburban enclave that offers a blend of rich history and modern conveniences. With its tree-lined streets, vibrant community atmosphere, and excellent public transport options, it caters to families and young professionals alike. Residents enjoy local shops, parks, and a strong sense of community.
Current Market Conditions in Forest Park, IL
The real estate market in Forest Park has shown resilience over the past year, with moderate price increases and a steady demand for properties. Homes in the area are sought after due to their proximity to Chicago, thoughtful urban design, and the community's emphasis on quality living. Buyers are increasingly looking for homes that offer both space and outdoor areas, as more families seek suburban environments for remote work and schooling.
As of late 2023, Forest Park is experiencing a hot market with low inventory levels, leading to increased competition among buyers. The interest rates are fluctuating, but the desirability of the area keeps the market strong. Homes that are well-maintained and located in sought-after school districts tend to sell quickly, often above asking price.
Home Value Estimator For Forest Park, IL
There are currently 5,491 real estate properties
in Forest Park, IL,
with a median automated valuation model (AVM) price
of $306,300.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Forest Park, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Forest Park, IL,
is $340,625.00, with the most expensive house
in Forest Park, IL, topping out
at $15,603,953.00 and the cheapest home
in Forest Park, IL,
clocking in at $50,031.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Forest Park, IL!
Rent Prices
In Forest Park, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Forest Park, IL, is on
a rollercoaster ride. The
average rent price in Forest Park, IL,
is $1,568.00. Indeed, when looking to rent in
Forest Park, IL, you can expect to pay as little
as $710.00 or as much
as $2,620.00,
with the average rent median estimated to
be $1,500.00. The good news is that finding
an affordable and desirable property to rent in Forest Park, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
