Is Lake Forest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,150,000
$612/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Forest was $1,150,000 in April 2024, up 16.4% from last year, and the median price per square foot was $612.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $432K | $440K | +1.9% |
2 Bedrooms | $585K | $614K | +5.0% |
3 Bedrooms | $950K | $1.0M | +12.4% |
4 Bedrooms | $1.2M | $1.3M | +12.3% |
5+ Bedrooms | $1.5M | $1.8M | +19.8% |
Summary: Lake Forest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 19.8%.
Median Sold Price Compared To Nearby Cities
Silverado | $760K | $987.5K | +29.9% |
Lake Forest | $988K | $1.1M | +16.4% |
Irvine-Lake Forest | $1.2M | $1.3M | +13.7% |
Irvine | $1.2M | $1.4M | +10.6% |
Mission Viejo | $986.6K | $1.0M | +8.1% |
Housing Supply in Lake Forest, CA
How many homes are available in Lake Forest, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
194 | 171 | -11.9% |
Summary: The Lake Forest real estate market had 171 homes for sale in April 2024, a 11.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 7 | -22.2% |
2 Bedrooms | 43 | 33 | -23.3% |
3 Bedrooms | 56 | 51 | -8.9% |
4 Bedrooms | 62 | 55 | -11.3% |
5+ Bedrooms | 24 | 25 | +4.2% |
Summary: The Lake Forest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 23.3%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes increased by 4.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
81 | 58 | -28.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in Lake Forest in April 2024, down by 28.4% month-over-month. Of the 58 sold homes, 28% were sold under asking, 9% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 21 Days | -35.8% |
Summary: Homes in Lake Forest had an average of 21 days on market in Apr 2024, down by 35.8% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 58 homes were sold in Lake Forest; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.