How is the Lake Forest real estate market really doing?
As Portola Hills is a community within Lake Forest and our personal favorite 😍 it is important to understand how the overall real estate market is doing in the city of Lake Forest. Check out the below graph of how both attached homes and single family homes are current selling.
As you can see from the above numbers, the real estate market in Lake Forest continues to remain strong. But does that median list price of over $1.8 million dollars surprise you? Keep in mind, right now there are number of new build homes available in the new neighborhood The Meadows. New neighborhoods have certainly increased the value of Lake Forest homes.
There currently are only 42 single family homes available and 10 attached homes available for home buyers. Low inventory is what continues to drive pricing up, so if you felt you missed out on selling for top dollar, you have an excellent chance today, it just might take a little longer than it did the last couple of years.
Homes priced right, presented well are selling and getting great food traffic with competing offers. Homes over priced are staying on the market much longer and as you can see from above, about 30% of homes have had a price reduction.
We've been helping homeowners buy, sell and invest in the community since 2004. If you are thinking about a move, we would be happy to go over with you what is happening in the current market and how we can assist you. Do not hesitate to reach out to us at KellyTurbeville.com or give us a call direct at 949-676-6426.