The real estate market in Lake Forest continues to be slow. In the last month, total closed sales of only 39 properties is off our average by more than 50%. (These are early numbers and may improve a little in the next few days when a few more closings could be reported in the MLS.)
Current Lake Forest Real Estate Statistics :
Single Family Homes
Status Units Avg List* $/square ft
===== === ====== =======
Active 191 $760,471 $394
Backup 15 $791,100 $382
Pending 16 $722,286 $366
Closed May* 25 $751,771 $352
* For closings, actual sale price reported
Whether you compare the active inventory level to the most recent month's closing volume, or to the current escrows (usually representing about 6 weeks of activity) we have well over a 7 month supply of single family homes.
CONDOS
Status Units Avg List* $/square ft
====== === ====== =======
Active 168 $399,236 $376
Backup 12 $441,538 $383
Pending 13 $398,650 $368
Closed May* 14 $384,035 $367
* For closings, actual sale price reported
The current supply of condos is somewhere between 9.5 and 12 months.
Based on supply versus demand this is a BUYER'S market, with buyers having a strong advantage of many choices and no compelling reason to consider paying top dollar.
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