Home Page

Selling OC for 30 Years!

CONTACT US TODAY

Orange County Realty Company, Inc.

Herb Dittrick and LaVonne Vojak

Broker/Owner

BRE #: 00582923, 01229898

949-395-7475 or 949-702-0595

LMVojak@gmail.com DittrickH@gmail.com

2019 LAKE FOREST SALES REPORT

Herb and I would like to give you our take on how the market performed in 2019 compared to 2018, and what we think 2020 will look like. If you recall, 2018 ended with higher interest rates, and the FED poised to raise them several more times during 2019. However, that did not materialize. Instead the rates decreased approx. 1% (from 4.75% to 3.75%). Had rates continued to rise, we would have seen a downturn.

When you combine all the sales in Lake Forest North and South (not including Baker Ranch, Foothill & Portola) the market in Lake Forest was up last year approximately 1%. However, as you can see, when looking at the individual tracts, the data can vary considerably. We believe prices will rise between 2-3% in 2020. Interest rates are historically low, the inventory of homes for sale is low, and the overall economy is strong.

If you are considering selling, the best time to put your home on the market is when the inventory and interest rates are low. Many sellers put their home on the market in April and the inventory increases dramatically. Instead of waiting to put your home on the market in April, you may consider doing so earlier to take advantage of the low inventory. If you are a buyer, take advantage of the low interest rates, as they may not last.

Tract: On The Hill (East of Lake Forest Dr.)

Year

Average # of

Sales

Average

Sq/ft

Average *

Cost per Sq/ft

Average

Days on Market

Average

Sales Price

2019

32 -20%

2,647 +12%

$363 -7% *

54 +38%

$938,166 +3.7%

2018

40

2,360

$390

39

$904,792

*Small homes tend to sell for more per square foot, than large homes.

Tract: On the Hill (West of Lake Forest Dr.)

2019

15 FLAT

1,655 +12%

$431 -5.1% *

22 -27%

$704,640 +5%

2018

15

1,482

$454

30

$670,967

*Small homes tend to sell for more per square foot, than large homes.

Serrano Park/Serrano Highlands

2019

20 + 5%

2,467 -5.6%

$347 +7.2% *

34 +25%

$828,670 FLAT

2018

19

2,612

$324

27

$830,763

*Small homes tend to sell for more per square foot, than large homes.

Tract: Forest Creek

2019

22 -37%

2,279 -5%

$355 +4.1% *

40 -40%

$795,774 -1%

2018

16

2,400

$340

67

$804,077

*Small homes tend to sell for more per square foot, than large homes.

Tract: Parkwood & Parkwest

2019

20 +120%

2,803 +6%

$296 -6% *

68 +120%

$817,445 +1%

2018

9

2,649

$316

31

$807,876

*Small homes tend to sell for more per square foot, than large homes.

Tract: Woods

2019

10 -44%

2,198 -5%

$349 +2.2% *

38 +19%

$755,600 -2.8%

2018

18

2,321

$341

32

$777,680

*Small homes tend to sell for more per square foot, than large homes.

Tract: On The Water:

2019

11 +10%

2,301 -19%

$486 +3% *

43 +39%

$1,090,091 -19%

2018

10

2,841

$471

31

$1,345,730

*Small homes tend to sell for more per square foot, than large homes.

Tract: Other Lake Forest Tracts

2019

81 +59%

1843 FLAT

$408 FLAT *

33 +65%

$739,054 +1%

2018

51

1,835

$407

20

$731,931

*Small homes tend to sell for more per square foot, than large homes.

Lake Forest North ALL TRACTS: North of Trabuco Rd (not including Baker Ranch, Foothill Ranch, Portola Hills)

Area

Year

Average # of

Sales

Average

Sq/ft

Average

Cost per Sq/ft

Average

Days on Market

Average

Sales Price

LF North

2019

141 -2%

2,137 +3%

$392 FLAT

45 +25%

$804,138 +2%

LF North

2018

144

2,083

$394

36

$792,090

Lake Forest South: ALL TRACTS (South of Trabuco to the 5 Freeway).

Area

Year

Average # of

Sales

Average

Sq/ft

Average

Cost per Sq/ft

Average

Days on Market

Average

Sales Price

LF South

2019

224 +31%

2,059 +2%

$390 -1.5%

52 +40%

$763,908 FLAT

LF South

2018

171

2,012

$396

37

$766,167