Is Lake Forest Park, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Forest Park has remained a Seller's Market.
Housing Prices in Lake Forest Park, WA
How much do homes in Lake Forest Park, WA cost?
Median Sold Price
$1,010,000
$444/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Forest Park was $1,010,000 in May 2024, up 12.2% from last year, and the median price per square foot was $444.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $365K | +21.7% |
2 Bedrooms | $419.7K | $523.7K | +24.8% |
3 Bedrooms | $890K | $910K | +2.2% |
4 Bedrooms | $1.0M | $1.0M | -1.4% |
5+ Bedrooms | $1.3M | $1.2M | -9.1% |
Summary: Lake Forest Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 9.1%.
Median Sold Price Compared To Nearby Cities
Lake Forest Park | $900K | $1.0M | +12.2% |
Mountlake Terrace | $622.5K | $637K | +2.3% |
Shoreline | $785K | $794.9K | +1.3% |
Brier | $945K | $940K | -0.5% |
Kenmore | $945K | $939K | -0.6% |
Housing Supply in Lake Forest Park, WA
How many homes are available in Lake Forest Park, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 43 | +72.0% |
Summary: The Lake Forest Park real estate market had 43 homes for sale in May 2024, a 72.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 9 | 18 | +100.0% |
4 Bedrooms | 7 | 16 | +128.6% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lake Forest Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 128.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Lake Forest Park in May 2024, up by 25.0% month-over-month. Of the 15 sold homes, 7% were sold under asking, 27% were sold at asking, and 67% were sold over asking.
Days on Market for Lake Forest Park, WA
How long does it take to sell a home in Lake Forest Park, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
7 Days | 7 Days | +5.7% |
Summary: Homes in Lake Forest Park had an average of 7 days on market in May 2024, up by 5.7% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Lake Forest Park; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.