Is Lake Forest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$1,171,250
$616/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Forest was $1,171,250 in May 2024, up 20.4% from last year, and the median price per square foot was $616.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $430K | $444.5K | +3.4% |
2 Bedrooms | $585K | $619.5K | +5.9% |
3 Bedrooms | $950K | $1.0M | +15.0% |
4 Bedrooms | $1.2M | $1.3M | +13.4% |
5+ Bedrooms | $1.5M | $1.8M | +18.9% |
Summary: Lake Forest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
Silverado | $782.5K | $975K | +24.6% |
Lake Forest | $972.9K | $1.1M | +20.4% |
Irvine-Lake Forest | $1.2M | $1.3M | +16.1% |
Irvine | $1.2M | $1.4M | +14.2% |
Mission Viejo | $975K | $1.0M | +12.8% |
Housing Supply in Lake Forest, CA
How many homes are available in Lake Forest, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
190 | 205 | +7.9% |
Summary: The Lake Forest real estate market had 205 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 10 | +25.0% |
2 Bedrooms | 34 | 36 | +5.9% |
3 Bedrooms | 59 | 61 | +3.4% |
4 Bedrooms | 61 | 65 | +6.6% |
5+ Bedrooms | 28 | 33 | +17.9% |
Summary: The Lake Forest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 17.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 63 | +5.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Lake Forest in May 2024, up by 5.0% month-over-month. Of the 63 sold homes, 27% were sold under asking, 16% were sold at asking, and 57% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 23 Days | +9.9% |
Summary: Homes in Lake Forest had an average of 23 days on market in May 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 63 homes were sold in Lake Forest; 73% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.