Market Edge Report

Lake Forest, IL

Single-Family Homes

BHHSChicago.com



Lake Forest, IL

Mon Feb 06 2023
This week the median list price for Lake Forest, IL is $1,399,900 with the market action index hovering around 34. This is less than last month's market action index of 36. Inventory has increased to 49. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Lake Forest, IL

Mon Feb 06 2023
This week the median list price for Lake Forest, IL is $1,399,900 with the market action index hovering around 34. This is less than last month's market action index of 36. Inventory has increased to 49. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Lake Forest market.
Median List Price $1,399,900
Median Price of New Listings $1,219,450
Per Square Foot $382
Average Days on Market 131
Median Days on Market 98
Price Decreased 20%
Price Increased 2%
Relisted 16%
Inventory 49
Median Rent
Market Action 34
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$2,997,000 6,200 1 - 2.5 acres 5 8 26 0 1 143
$1,549,000 3,700 0.5 - 1 acre 4 3.5 1 1 0 56
$1,198,999 3,604 1 - 2.5 acres 4 3.5 46 3 2 35
$739,000 2,900 0.25 - 0.5 acre 4 3.5 58 2 4 98