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Lake Forest Market Conditions - Early June Report

By
Managing Real Estate Broker with The Lloyd Realty Group DRE# D00610006

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.