Well if you're looking for a Residential home in Forest Hills then you are at a disadvantage at the moment, because the Absorption Rate (A.K.A. Month's Supply) in Forest Hills is currently 4.27 months (For Residential Homes). When Month's Supply is above 6 months the market is said to favor Buyers and when it is below 6 months. the market is said to favor Sellers. Therefore, it is indeed a Seller's market when it comes to Residential Real Estate in Forest Hills, NY.
With that said, my best advice for you is to evaluate your timeline. If you are looking to buy in the next 1 - 3 months, then you should be prepared to submit your strongest & best offer and be one of the first to do so, that way you can get in the game. If you are not in a rush, then monitor the home sales and inventory levels until supply begins to exceed demand again. You can follow our Blog to keep up with the FH real estate market: http://queensrealestatetalk.wordpress.com
Hope that helps:)