Is Lake Forest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,117,257
$608/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lake Forest was $1,117,257 in March 2024, up 9.8% from last year, and the median price per square foot was $608.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $432K | $438K | +1.4% |
2 Bedrooms | $589K | $613.4K | +4.1% |
3 Bedrooms | $980K | $1.0M | +4.1% |
4 Bedrooms | $1.2M | $1.3M | +8.2% |
5+ Bedrooms | $1.5M | $1.8M | +20.1% |
Summary: Lake Forest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 20.1%.
Median Sold Price Compared To Nearby Cities
Silverado | $760K | $1.0M | +31.6% |
Lake Forest | $1.0M | $1.1M | +9.8% |
Irvine-Lake Forest | $1.2M | $1.3M | +9.8% |
Irvine | $1.2M | $1.3M | +7.7% |
Mission Viejo | $992.2K | $1.0M | +6.2% |
Housing Supply in Lake Forest, CA
How many homes are available in Lake Forest, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
164 | 173 | +5.5% |
Summary: The Lake Forest real estate market had 173 homes for sale in March 2024, a 5.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 36 | 39 | +8.3% |
3 Bedrooms | 43 | 46 | +7.0% |
4 Bedrooms | 57 | 59 | +3.5% |
5+ Bedrooms | 20 | 21 | +5.0% |
Summary: The Lake Forest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 81 | +145.5% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 81 homes were sold or pending in Lake Forest in March 2024, up by 145.5% month-over-month. Of the 81 sold homes, 35% were sold under asking, 16% were sold at asking, and 49% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 26 Days | -27.9% |
Summary: Homes in Lake Forest had an average of 26 days on market in Mar 2024, down by 27.9% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 81 homes were sold in Lake Forest; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.