Closed sales in Lake Forest Park out pacing 2011

Closed sales in Lake Forest Park out pacing 2011

Lake Forest Park closed sales year-over-year

Closed sales in the Lake Forest Park area are up 29% year-over-year.

This week in Lake Forest Park

The median list price for Lake Forest Park is $312,450.  Inventory has  been tightening lately and the Market Action Index has been trending up.  Though days-on-market is increasing, these are mildly positive indications for the market. 

Supply and Demand

Home sales in Lake Forest Park have been exceeding new inventory for several weeks.  Since this is a Buyer’s market prices are not yet moving higher as excess inventory is consumed.  However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing. 

Price

We continue to see prices in the  Lake Forest Park area bouncing around this plateau.  Look for a persistent up-shift in the Market Action Index before we see prices move from these levels. 

Living in Lake Forest Park

The City of Lake Forest Park is located just north of Seattle, it’s occupies the northwest corner of Lake Washington. Lake Forest Park is anchored by the Lake Forest Town Park Center which has over the years become a “third place” for many residents.

Lake Forest Park is filled with residents who love outdoor activities and being right next door to the Burke Gilman Trail provides outdoor enthusiasts a convenient outlet to walk, run and cycle along the shores of Lake Washington from Gas Works Park through Lake Forest Park and continuing to Ste. Michelle Winery in Woodinville.

Stay updated on the latest real estate trends in Lake Forest Park and Sheridan Beach. Sign-up and have market report e-mailed to you weekly or monthly absolutelyFREE? Subscribe today, for any additional information regarding the real estate market contact Adrian Willanger.

 Related posts:

1. Lake Forest Park’s closed home sales out pacing previous year (34.6)
2. Lake Forest Park closed sales down in November (28.1)
3. Home sales in Lake Forest Park slows in November (26.2)
4. Lake Forest Park's September's home sales remain strong (25.1)
5. Lake Forest Park real estate market update (21.7)