Lake Forest Market Update

Homes in Lake Forest are selling!  The preliminary numbers for the month of September are up from last year, although the average price is lower than a year ago.  In September 2008, 63 properties closed escrow compared to 26 in September 2007.  The sold prices ranged from a low of $100,000 for a one bedroom condo to $1,387,400 for a lake front custom home.

The current active inventory, is 251 properties.  Of those, 124 are coded as short sales, and 44 are lender owned.  The remaining 79 “non-distressed” properties range in price from $179,000 for a one-bedroom condo, to $1,695,000 for a custom lake front home.

Active251 Properties

 

Beds

Baths

Sq Ft

List Price

LP/SqFt

DOM

Min

1

1

610

$88,000

$96.49

0

Avg

2.9

2.25

1539

$437,457

$271.51

98

Max

6

5

3850

$1,695,000

$560.25

411

Pending Sales85 Properties

 

Beds

Baths

Sq Ft

List Price

LP/SqFt

DOM

Min

1

1

685

$108,900

$137.82

0

Avg

3.0

2.25

1526

$370,871

$237.46

52

Max

5

3

3350

$1,395,000

$575.02

234

Backup Offers50 Properties

 

Beds

Baths

Sq Ft

List Price

LP/SqFt

DOM

Min

1

1

662

$110,000

$151.93

1

Avg

2.9

2.25

1408

$394,518

$273.95

71

Max

4

3

2701

$1,185,000

$493.75

315

Closed Sales63 Properties

 

Beds

Baths

Sq Ft

List Price

LP/SqFt

Sold Price

SP/SqFt

SP/LP

SP/OLP

DOM

Min

1

1

685

$95,000

$138.69

$100,000

$0.00

88.00%

71.00%

1

Avg

2.7

2.25

1378

$380,951

$268.89

$365,674

$259.48

98.00%

95.00%

50

Max

5

4

2860

$1,550,000

$541.96

$1,387,400

$485.10

115.00%

115.00%

279

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