How's Chicago's Real Estate Market?
Lake Forest, IL 60045
Single-Family Homes
312-961-6212
Lake Forest, IL 60045
Thu Apr 25 2024
This week the median list price for Lake Forest, IL 60045 is $1,950,000 with the market action index hovering around 31. This is less than last month's market action index of 32. Inventory has increased to 51.
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 have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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
| Median List Price | $1,950,000 | |
| Median Price of New Listings | $2,850,000 | |
| Per Square Foot | $421 | |
| Average Days on Market | 157 | |
| Median Days on Market | 84 | |
| Price Decreased | 24% | |
| Price Increased | 2% | |
| Relisted | 12% | |
| Inventory | 51 | |
| Median Rent | ||
| Market Action | 31 | |
| Slight Seller's Advantage | ||
In the last few weeks we’ve seen prices in this zip code bouncing around these current levels. Look for a persistent change in the Market Action Index before we see prices deviate significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,072,500 | 6,180 | 1 - 2.5 acres | 5 | 5.8 | 40 | 2 | 2 | 42 |
| $2,350,000 | 5,114 | 1 - 2.5 acres | 4 | 5 | 30 | 1 | 0 | 119 |
| $1,514,900 | 3,700 | 1 - 2.5 acres | 4 | 3.5 | 25 | 0 | 0 | 245 |
| $940,000 | 2,741 | 0.25 - 0.5 acre | 3 | 2.5 | 27 | 0 | 3 | 42 |