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 March 2023
Since last year, Lake Forest Park has remained a Seller's Market.
Key Takeaway
Lake Forest Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Forest Park, WA
How much do homes in Lake Forest Park, WA cost?
Median Sold Price
$1,002,000
$448/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Lake Forest Park has remained the same since last year.
Summary: The median home sold price in Lake Forest Park was $1,002,000 in March 2024, up 0.2% from last year, and the median price per square foot was $448.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $355K | +13.6% |
| 2 Bedrooms | $432K | $467.7K | +8.3% |
| 3 Bedrooms | $899.9K | $902.5K | 0.3% |
| 4 Bedrooms | $1.1M | $1.0M | -4.5% |
| 5+ Bedrooms | $1.4M | $1.2M | -9.7% |
Summary: Lake Forest Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Cities
| Mountlake Terrace | $637.5K | $639.5K | 0.3% |
| Lake Forest Park | $1.0M | $1.0M | 0.2% |
| Shoreline | $805.2K | $792.1K | -1.6% |
| Brier | $980K | $940K | -4.1% |
| Kenmore | $1.0M | $900K | -10.0% |
Housing Supply in Lake Forest Park, WA
How many homes are available in Lake Forest Park, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 27 | +68.8% |
Summary: The Lake Forest Park real estate market had 27 homes for sale in March 2024, a 68.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Lake Forest Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Forest Park, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Lake Forest Park in March 2024, up by 120.0% month-over-month. Of the 11 sold homes, 0% were sold under asking, 27% were sold at asking, and 73% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 20 Days | 3 Days | -82.1% |
Summary: Homes in Lake Forest Park had an average of 3 days on market in Mar 2024, down by 82.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Forest Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Lake Forest Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.