Lake Forest, South Orange County, Housing Market Update - Prices up, Sales Numbers Down, Increasing Short Sales

Lake Forest, South Orange County, California, Housing Market Update, shows prices up from last year, number of sales down, and increasing short sales.

Lake Forest is a beautiful residential community located east of Irvine and where homes are more affordable for buyers at South Orange County.

90 Lake Forest homes sold during July 2010.

(This is down from 102 sold during July 2009)

Average sold price was $412k.

(This is up from $378k average sold price last year).

Average time on market for those solds this year was 88 days.

40 of those homes sold this year during July were short listings (44% of solds market).

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There are good buyer opportunities at Lake Forest now with 274 homes listed for sale.  122 of listed homes are short listings where owners have no equity (44.3% of the market).  Average list price for listed homes is $482,973.

Source of information: SoCal Multiple Listing Service

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Harrison K. Long
REALTOR and broker associate, Explore Group Properties, Coldwell Banker Previews
949-854-7747 - CA DRE 01410855 - www.LiveAtIrvine.com - www.NewportCoastLive.com - www.LiveAtNewportBeach.com - www.CostaMesaLive.com - www.LiveAtLagunaBeach.com - www.CoastLivingHomes.com - www.ExploreOCHomes.com  - www.ExploreRealEstate.net - www.LiveAtOrangeCounty.com  

We like Living at Orange County, showing and selling homes and properties at Lake Forest, South OC, and providing this Local Housing Market Update.

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