Lake Forest Homes for Sale – What Happened in the Lake Forest Real Estate Market in July 2012.
If you are considering buying or selling a home in the Lake Forest, CA real estate market, having the most current market data will help you to make the best decisions regarding Lake Forest Homes for Sale. Lake Forest is a highly desirable centrally located community in South Orange County. Homes and condos are relatively affordable for the area and there are some great housing choices in all price ranges. It’s important to work with a Lake Forest Realtor® who knows the market inside and out.
The Lake Forest real estate market posted excellent results in July 2012 with 97 closed sales vs. 73 closed sales in July 2011 – a 33% increase! Buyer demand for Lake Forest homes remains incredibly strong - as of August 6, 2012, 76% of the 320 available listings in Lake Forest are currently under contract! At the current sales pace, there is less than a 1 month supply of homes (76 active Lake Forest MLS listings).
- For the month of July 2012 97 homes in Lake Forest sold at an average final selling price of $409,765.
- The average original asking price of these homes was $413,660 – selling at 98% of list price.
- The range of final selling prices was from a low of $100,000 for a 1 bedroom condo to a high of $1,100,000 for a 6 bedroom 4100 sq ft luxury home in the Montbury On The Hill neighborhood (includes attached and detached homes).
- Of the 97 homes that sold, 59 Lake Forest homes were standard equity sales and 37 were distressed sales – either short sales or bank owned foreclosures.
- July sold homes were on the market an average of 83 days, down slightly from 93 days in July 2011. Prices were up 4.3% vs. the previous July (on a price/sq ft basis). The average selling price per square foot was $241.28 in July 2012.
If you are looking to buy or sell Lake Forest real estate it's important to be informed. Call us anytime at 949-500-0484 with any questions on buying or selling Lake Forest homes.
Useful Resources for Lake Forest Home Buyers:
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