Is Lake Forest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Lake Forest has remained a Seller's Market.
Housing Prices in Lake Forest, CA
How much do homes in Lake Forest, CA cost?
Median Sold Price
$1,174,722
$626/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Lake Forest was $1,174,722 in June 2024, up 20.7% from last year, and the median price per square foot was $626.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $422.5K | $452.5K | +7.1% |
2 Bedrooms | $576K | $621K | +7.8% |
3 Bedrooms | $940K | $1.1M | +17.8% |
4 Bedrooms | $1.2M | $1.3M | +14.6% |
5+ Bedrooms | $1.5M | $1.9M | +23.0% |
Summary: Lake Forest housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 23%.
Median Sold Price Compared To Nearby Cities
Lake Forest | $972.9K | $1.1M | +20.7% |
Silverado | $810K | $975K | +20.4% |
Irvine-Lake Forest | $1.2M | $1.4M | +17.2% |
Irvine | $1.2M | $1.5M | +15.6% |
Mission Viejo | $963.1K | $1.0M | +14.2% |
Housing Supply in Lake Forest, CA
How many homes are available in Lake Forest, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
225 | 229 | +1.8% |
Summary: The Lake Forest real estate market had 229 homes for sale in June 2024, a 1.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 42 | 43 | +2.4% |
3 Bedrooms | 68 | 68 | 0.0% |
4 Bedrooms | 72 | 77 | +6.9% |
5+ Bedrooms | 35 | 33 | -5.7% |
Summary: The Lake Forest housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 5.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
66 | 61 | -7.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Lake Forest in June 2024, down by 7.6% month-over-month. Of the 61 sold homes, 21% were sold under asking, 15% were sold at asking, and 64% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
21 Days | 15 Days | -26.1% |
Summary: Homes in Lake Forest had an average of 15 days on market in Jun 2024, down by 26.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 61 homes were sold in Lake Forest; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.