Lake Forest, IL Home Values & Market Trends

Real estate market trends reflect that there have been 403 transactions over the past year in Lake Forest. The median value for residential home transactions that occurred over the previous year is $888,206.52. The number of current listings in Lake Forest is 11, and the percentage of properties for sale in the city is 11.00%. Lake Forest, IL currently has 11 properties in foreclosure, 1 bank owned properties, 4 properties headed for auction, and 11 properties for sale.

Lake Forest, IL Real Estate Market Overview

ZipMedian Est. Value
60045

$ 811,585

$ 304/sqft

Housing Market Summary for Lake Forest, IL

Mar 2023February 2024Change
Median Listing Price$1.1M$907.9K-21.05%
Median Sold Price$918.5K$907.9K-1.15%
Homes For Sale1513-13.33%
Homes Sold2772811.44%
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Lake Forest, IL

Lake Forest home values range from $108,078 to $14,977,231. The median estimated value of a home in Lake Forest is $888,206.52. The median list price of a home is 721,900, and the total count of properties in the city is 7,424.

Foreclosure
There is 1 zips within Lake Forest, IL; within this zips, the median estimated home value for homes in foreclosure ranges from $2,007,275 in 60045 to the lowest value of $667,258 in 60045. Foreclosure homes account for 0.00% of properties in Lake Forest, IL with 60045 containing 11 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0.08% of all residential properties in Lake Forest, IL with 60045 containing 6 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Lake Forest, IL; of that zips, the estimated home value for pre-foreclosure homes ranges from $2,007,275 in 60045 to the lowest home value of $826,994 in 60045.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Lake Forest, IL ranges from the highest value of $667,258 in 60045 to the lowest value of $667,258 in 60045. Bank owned homes and properties account for 0.01% of properties in Lake Forest, IL. There is 1 zips within Lake Forest, IL; 60045 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    60045 has 4 auction properties, the highest number of properties going to auction in a single zip in the state of Lake Forest, IL. Auction homes and other auction properties account for 0.05% of all properties in Lake Forest, IL. There is 1 zips within Lake Forest, IL; of that zips, the median estimated home value for homes going to auction ranges from $1,878,279 in 60045 to the lowest value of $867,558 in 60045.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.15% of residential properties in Lake Forest, IL with 60045 containing 11 homes for sale, the highest number of listed properties in a single zip. There is 1 zips within Lake Forest, IL; homes for sale in that zips, have a range of median values from $2,536,872 in 60045 to the lowest value of $388,710 in 60045.
    Sold Homes
    The median value for recently sold homes ranges from $7,622,125 in 60045 to the lowest price of $159,096 in 60045. There is 1 zips within Lake Forest, IL. 60045 has 245 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 3.29% of properties in Lake Forest, IL.

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      Guide for Lake Forest, IL

      Market Reports
      Chicago’s Real Estate Market Experiences Year-Long Zigzag in House Prices, 2022-2023
      Home Buying Financing
      How To Get House Mortgage With Low Credit Score
      Wholesale
      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
      Home Buying Guides & Tips
      How Do You Buy a House if You’re Broke?
      See More Articles
      Chicago’s Real Estate Market Experiences Year-Long Zigzag in House Prices, 2022-2023
      Market Reports|posted 14 February 2024

      A quick analysis of real estate trends in Chicago and its neighboring areas from November 2022 to December 2023.

      How To Get House Mortgage With Low Credit Score
      Home Buying Financing|posted 22 March 2024

      Learn how to secure a house mortgage even with a low credit score.

      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
      Wholesale|posted 20 March 2024

      Explore the legal pitfalls to avoid when dealing with pre-foreclosure sellers. Learn how to navigate the complex process safely and protect yourself from costly mistakes and legal complications.

      How Do You Buy a House if You’re Broke?
      Home Buying Guides & Tips|posted 20 March 2024

      What can you do when you want to buy a house when you’re strapped for cash?

      Recently Listed Homes Lake Forest, IL

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