$10,000 Closing Credit*
$1,960,000
2,509 SqFt
4 Beds
•3 Full Baths
Changqing Xiong, Listing Office: Pacific Sterling Realty
Is Lake Forest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lake Forest has remained a Seller's Market.
Key Takeaway
Lake Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Forest, CA
How much do homes in Lake Forest, CA cost?
Median Sold Price
$1,180,800
$642/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$137,300(+13.2%)
Key Takeaway
Homes in Lake Forest have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in Lake Forest was $1,180,800 in October 2024, up 13.2% from last year, and the median price per square foot was $642.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $420K | $452.4K | +7.7% |
| 2 Bedrooms | $590K | $625K | +5.9% |
| 3 Bedrooms | $950K | $1.1M | +18.6% |
| 4 Bedrooms | $1.2M | $1.3M | +7.8% |
| 5+ Bedrooms | $1.6M | $1.9M | +16.8% |
Summary: Lake Forest housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Irvine | $1.3M | $1.5M | +19.2% |
| Irvine-Lake Forest | $1.2M | $1.4M | +17.6% |
| Mission Viejo | $994.1K | $1.1M | +13.9% |
| Lake Forest | $1.0M | $1.1M | +13.2% |
| Silverado | $950K | $1.0M | +6.1% |
Housing Supply in Lake Forest, CA
How many homes are available in Lake Forest, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 233 | 228 | -2.1% |
Summary: The Lake Forest real estate market had 228 homes for sale in October 2024, a 2.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 12 | +33.3% |
| 2 Bedrooms | 64 | 58 | -9.4% |
| 3 Bedrooms | 65 | 62 | -4.6% |
| 4 Bedrooms | 72 | 70 | -2.8% |
| 5+ Bedrooms | 23 | 26 | +13.0% |
Summary: The Lake Forest housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 60 | +3.4% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Forest, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Lake Forest in October 2024, up by 3.4% month-over-month. Of the 60 sold homes, 43% were sold under asking, 25% were sold at asking, and 32% were sold over asking.
Days on Market for Lake Forest, CA
How long does it take to sell a home in Lake Forest, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 28 Days | +17.5% |
Summary: Homes in Lake Forest had an average of 28 days on market in Oct 2024, up by 17.5% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Forest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 60 homes were sold in Lake Forest; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.