January's First-Time Homebuyer Report for Lake Forest

Lake Forest is a city in California. It's very affluent and the cost of living is expensive compared to the rest of the state, with a median income of $81,757 per household and cost of living adjustment score of 157.2. With a median age of 31 years, homes in Lake Forest tend to be relatively old. Heading the list of top schools in the city is Portola Hills Elementary School.

Culture

If you are interested in the good places to eat in Lake Forest, Foursquare says that In-N-Out Burger, Bagels & Brew, and Wahoo's Fish Taco are the most popular restaurants. You might also try Islands Restaurant, a popular place to get a drink. You could also check out the popular Starbucks for a cup of coffee.

Price Range

Lake Forest has some of the more expensive homes in the state with a median home value of $436,400 and a current average list price of $676,254. The Lake Forest market pulled back with a 3.8% sales drop in this week's report. Overall sales numbers for the last 30 days remained below the 84.9 monthly average with 77 homes sold.

Curious as to which homes have been getting the most attention in Lake Forest? These listings have stirred up interest and produced the most views:

$849K   $645K   $345K  

Typical Dwelling

A four-bedroom detached home valued around $754,835 is considered a typical dwelling in Lake Forest. If a buyer was looking for a similar home, they would need good credit and a $150,967 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $2,814 and the property tax rate is $7.36 per $1,000 of taxable assessed value.

Get started right now by checking out Lake Forest homes for sale or reviewing Lake Forest real estate trends.


Data reported through 1/12/2017

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