Is Lake Forest Park, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Forest Park is a seller's market

Buyer's
Market

Difference Since July 2021

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.

How much do homes in Lake Forest Park, WA cost?

Median Sold Price

$1,000,000

$489/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$223,166(+28.7%)

Key Takeaway

Homes in Lake Forest Park have sold for 28.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $260K$337.5K
+29.8%
2 $337K$462.4K
+37.2%
3 $700K$887.5K
+26.8%
4 $925K$1.2M
+30.7%
5+ $1.0M$1.3M
+34.7%

Median Sold Price Compared To Nearby Cities

Mountlake Terrace
+31.5%
Lake Forest Park
+28.7%
Brier
+28.4%
Kenmore
+28.3%
Shoreline
+16.5%

How many homes are available in Lake Forest Park, WA?

Number of Homes For Sale

Jun 2022Jul 2022%
3941+5.1%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 00
0.0%
2 35
+66.7%
3 1520
+33.3%
4 1711
-35.3%
5+ 45
+25.0%

Number of Homes Sold

Jun 2022Jul 2022%
1612-25.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Forest Park, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
7 Days11 Days+49.7%

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Forest Park are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lake Forest Park, WA

Lake Forest Park, WA has 41 homes for sale to choose from. Between June 2022 and July 2022, Lake Forest Park, WA real estate market has seen increase in the number of listings by 5.1%. While the average time on the market in July 2022 was 11 days, the median list price was $1,000,000. From June 2022 through July 2022, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went up by 29.8%, the cost of 2 bedrooms properties went up by 37.2%, 3 bedrooms properties became 26.8% more expensive, the cost of 4 bedrooms properties went up by 30.7%, 5 bedrooms properties became 34.7% more expensive. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes went up by 66.7%, number of 3 bedrooms homes increased by 33.3%, volume of 4 bedrooms homes went down by 35.3%, 5 bedrooms homes inventory increased by 25%. Over 5 listings were sold over their listed price in July 2022 in Lake Forest Park, WA. In the same period over 5 listings were sold below the listed price and 2 listings were sold for the listed price.

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