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Lake Forest Home Sales Report September 2010

By Vicki Lloyd

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

October 13, 2010 04:38 AM

Sales volume for September in Lake Forest, California is up from last year! This year, 62 homes and condos closed escrow between September 1 and September 30, compared to only 50 during the same period last year. The distressed sales (short sales & foreclosures) represented 53% of the sales compared to 42% last year.

High Sale $910K

The price range of the 30 single homes sold went from a low of $398,000 up to $910,000. The average price was $510,079 at $265 per square foot.

Low Condo Sale $113,000 High Condo Sale $410,000

For condos, the total number sold was 32 with a closed price range of $113,000 to $410,000. The average sold price was $241,234 at $224 per square foot.

There are 200 “Active” listings today on the MLS ranging from from $104,900 for a one-bedroom condo up to $1,650,000 for a custom “point home” on the lake front. If you have been thinking about buying a home in Lake Forest, there are a lot of choices right now!

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Olympus Executive Realty Inc.

Olympus Executive Realty INC. - Orlando, FL

Home Of The Top Producers

Vicki, Thank you for the great wealth of information and update on your area, Great work! Wishing you the best!

Oct 13, 2010 05:09 AM

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Vicki - there is some good information for buyers and sellers, and some interesting changes. How do these data compare to past month? How are things trending, in your opinion?

Jeff

Oct 13, 2010 04:33 PM

Lynda Eisenmann

Preferred Home Brokers - Brea, CA

Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Vicki,

Good information for Lake Forest real estate. Looks pretty healthy when it comes to the market, your price per sq. ft. is just a little higher than my area.

Keep up the great work!

Oct 13, 2010 05:20 PM

Vicki Lloyd

The Lloyd Realty Group - San Diego, CA

(619)452-9798, Real Estate San Diego California

Jeff & Lynda - My area is small enough, and volume is so low, that I don't really look at month-to-month volume very closely. I need to compare year-to-date versus last year to get a better idea of trends. Sometimes, I just don't like to dig too deeply because I don't like what I see! The sales are dominated by short sales & REOs, with a few equity sales thrown in to cause confusion!

Breaking it down by price ranges (under $300K, or $300K - $450K, $450K - $600K, etc) is more meaningful, but the volume in any of those ranges is so small that it's difficult to come to intelligent conclusions!

A huge (3000+ sq ft) house in 1975 condition, and backing up to the RR tracks and a short sale will give us a really low $/sq foot. Then a gorgeous lake front at only 1356 sq ft will be a BIG $/sq ft. That's comparing apples and prunes! Absolutely nothing alike - and neither extreme provides any value that a buyer can use to make intelligent decisions with.

With all our technology and analytics - sometimes the gut feel of the buyer is really the best measurement of value!

A property is worth what a ready, and able buyer is willing to pay!

Oct 13, 2010 05:39 PM

Lake Forest Home Sales Report September 2010

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