Lake Forest Real Estate Market Update - August 2025

Market Snapshot

Active: 10 homes are on the market, averaging $801,080 and about 61 days on market.

Closed: 9 homes sold, averaging $677,767, with an average of just 10 days on market.

Pending: 4 homes are pending, averaging $917,500 and 25 days on market.

Cancelled: 3 listings were cancelled, averaging $889,667 and 58 days on market.

Key Trends

1. Homes are selling fast when priced right — closed listings moved in only 10 days.

2. Pending homes are averaging above $900K, showing that luxury buyers are active.

3. Cancelled listings at nearly $890K reflect the risk of pricing too high without meeting market demand.

4. Active listings are averaging $801K, higher than the closed sales average, which may slow absorption if not adjusted.

What This Means

For Buyers: Expect competition for well-priced homes, as they’re going under contract quickly. Luxury homes are moving, but you may still have room to negotiate if a listing lingers.

For Sellers: Pricing is critical. Homes aligned with buyer expectations are selling in days, while overpriced ones risk cancellation.

Final Thoughts

The Lake Forest market remains strong and fast-moving in August 2025. Homes priced to the market are selling in days, while overpriced listings are struggling. The key to success here is clear: price it right, and it will move quickly.

© 2025 Jay T. Pitts & Associates | RE/MAX Premier Properties