Inventory in Park Forest has thinned compared with last year, with active listings down about 13 percent on a rolling three-month basis even as they have ticked up slightly in recent months. Contract activity has cooled, as pending sales are running nearly 6 percent lower year over year and new listings are down more than 15 percent. Homes are taking a bit longer to go under contract, with the median days on market edging up to 74 days from about 70 a year ago.
Prices have moved higher despite the slower pace, suggesting steady underlying demand. The typical home value over the latest three-month period is up nearly 18 percent from a year earlier, and the median list price is running about 6 percent higher.
Other signals show a mixed, but still seller-leaning, environment. Months of supply is at 6.8, higher than earlier this year but down sharply versus last year’s level in this same rolling window, and the share of homes selling above list has climbed to nearly one-third of all sales. Sellers are still achieving strong results, with an average sale-to-list ratio just over 98 percent and slightly higher than a year ago. With shifting inventory, firmer prices, and longer marketing times, both buyers and sellers in Park Forest can benefit from Agent Pronto’s help connecting with an agent who understands these trends.
