Market Edge Report

Lake Forest, IL

Single-Family Homes

BHHSChicago.com



Lake Forest, IL

Thu Feb 29 2024
This week the median list price for Lake Forest, IL is $1,676,672 with the market action index hovering around 32. This is less than last month's market action index of 34. Inventory has increased to 51. Click here to stay informed with the Lake Forest market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Lake Forest, IL

Thu Feb 29 2024
This week the median list price for Lake Forest, IL is $1,676,672 with the market action index hovering around 32. This is less than last month's market action index of 34. Inventory has increased to 51. Click here to stay informed with the Lake Forest market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Lake Forest market.
Median List Price $1,676,672
Median Price of New Listings $1,499,000
Per Square Foot $415
Average Days on Market 172
Median Days on Market 105
Price Decreased 20%
Price Increased 0%
Relisted 16%
Inventory 51
Median Rent
Market Action 32
Slight Seller's Advantage

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,122,500 7,494 1 - 2.5 acres 5 6.8 36 0 0 157
$2,095,000 5,000 1 - 2.5 acres 5 4.5 27 2 1 147
$1,497,000 3,700 0.5 - 1 acre 4 3.5 23 4 0 35
$950,000 2,400 0.25 - 0.5 acre 3 2.5 57 1 1 105