Market Edge Report

Lake Forest, IL

Single-Family Homes

BHHSChicago.com


Lake Forest, IL

Wed Oct 09 2024
This week the median list price for Lake Forest, IL is $1,795,000 with the market action index hovering around 32. This is an increase over last month's market action index of 31. Inventory has increased to 63. 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

Market Narrative

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Lake Forest, IL

Wed Oct 09 2024
This week the median list price for Lake Forest, IL is $1,795,000 with the market action index hovering around 32. This is an increase over last month's market action index of 31. Inventory has increased to 63. 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

Market Narrative

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Lake Forest market.
Median List Price $1,795,000
Median Price of New Listings $1,262,000
Per Square Foot $405
Average Days on Market 96
Median Days on Market 56
Price Decreased 37%
Price Increased 2%
Relisted 17%
Inventory 63
Median Rent
Market Action 32
Slight Seller's Advantage

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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
$4,500,000 7,800 1 - 2.5 acres 6 9 29 0 0 63
$2,272,000 5,663 1 - 2.5 acres 5 6.3 33 0 2 98
$1,499,000 4,068 1 - 2.5 acres 5 4.3 46 1 3 45
$909,500 2,930 0.25 - 0.5 acre 4 3.3 47 1 3 35