Market Conditions

Lake Forest Real Estate Report from 2012

Live Lake Forest - Orange County, CA No Comments

In November 2012, a report on real estate in Lake Forest, California was released, and it showed that the real estate market there was improving. This came at a time when inventory was dwindling down and multiple offers were driving sales prices above the list prices. This indicated that great bargains wouldn’t be hard to come by and very difficult to find.

The report revealed that the volume of sales was up by 27% during the previous three months compared to the same period in 2011. At that time, there were 39 properties that were in the active status category, with eight of them being foreclosure properties or short sales properties. Also, with sales the way they were, the number represented a 20 day supply.

The lowest price was $180,000 for a two-bedroom condo with two bathrooms and a single carport. The highest price was $890,000, which would have gotten you a four-bedroom home with four bedrooms, as well as a pool and a three-car garage. As for the neighborhood, this would be in the Montbury section.

At that time, we expected the inventory of homes to continue dropping, due to the holidays approaching and most sellers would have probably wanted to wait until January to start selling their homes. In fact, the lowest number of homes available for sale in any given year is in December, and then sale start to slowly go back up once January arrives. This is why they were predicting this was going to happen in the November 2012 report.

If you wanted to sell your home, then you should know that it has been a long time since we have had a fast-moving market. 2012 was actually a good time to consider selling. You might have been able to sell your home fast.

Just make sure you choose to work with a highly skilled and reputable realtor. They will create a strategy that will help you sell your home. Don’t forget to use resources such as realtor.com and Yelp.