February 16th, 2010 12:28 PM by Dave Gubler
Lake Forest (Detached Single Family Residences)
1. Median Price / Dec-09: $493,500.00
2. % Change In Price From Prior Month: 6.4%
3. % Change In Price From Prior Year: 8.5%
4. Total Number Of Units Sold: 44
5. % Change In # Sales From Prior Month: 46.7%
6. % Change In # Sales From Prior Year: 46.7%
Orange County (Detached Single Family Residences)
1. Median Price / Dec-09: $533,250.00
2. % Change In Price From Prior Month: 1.5%
3. % Change In Price From Prior Year: 18.8%
4. Total Number Of Units Sold: 1,430
5. % Change In # Sales From Prior Month: 2.6%
6. % Change In # Sales From Prior Year: 3.3%
This was an encouraging market report for the Lake Forest California area as both the median price and the sales volume increased from month to month and year of year. Furthermore, Lake Forest sales growth dramatically outpaced the county as a whole. Although the median home price in the Lake Forest area is still well below the highs of several years ago this movement in a positive direction is encouraging for homeowner's that would like to stay in their homes and also for those who, because of financial hardship or other hardship, need to sell. The less negative equity you have the better in terms of a short sale transaction. If you owe more on your home than it's present market value and you need to sell now this uptick in median price and sales volume increases your chances of a successful resolution.
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