Real Estate Market Update for Lake Forest, IL
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 21% from one year earlier, and up 6% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just over 1.2-million dollars. Compared to last year, the average number of days units spent on the market before being sold was down 7%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 720-thousand dollars. The number of units sold increased 8% year-over-year, and increased 12% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Lake Forest, IL
Area Information for Lake Forest, IL
  • Population: 19,487
  • Median Age: 44.7 yr
  • Median Commute Time: 23.1 mins
  • Educational Climate*: 5
  • Sales Tax: 7.5%
  • Population Density: 1,134/sq mi
  • Population Change Since 2000: -3.94%
  • Closest Airport: Chicago O'hare International
  • Closest College: Lake Forest College
  • Closest Jr. College: Worsham College-mortuary Science
  • Median Household Income: $140,963
  • Annual Residential Turnover: 16.8%
  • Median Years in Residence: 4.23 yr
  • Median Home Sales Price: $650,000
  • Closest Major Sports Team: Cubs
  • Change Avg. Household Income Since 2000: 4%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Lake Forest, IL
Median Age: 44.7 Married: 45% Number of Households: 6,835 Households with Children: 2,438
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Lake Forest, IL

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Sally Potter School 0.3 mi Public 1-8 0 0
      Lake Forest Academy 0.9 mi Private 9-12 0 4
      School Of St Mary (primary Grade Center) 1.0 mi Catholic - 0 0
      Deer Path Middle Sch West 1.3 mi Public 7-8 4-5 3
      Deer Path Middle Sch East 1.4 mi Public 5-6 5 3
      Everett Elem School 1.4 mi Public K-4 5 5
      Dearhaven Childcare & Learning Center 1.5 mi Private PRESCHOOL-K 0 0
      Lake Forest Country Day School 1.5 mi Private K-8 0 0
      School Of St Mary 1.6 mi Catholic PRESCHOOL-8 0 5
      Cherokee Elem School 1.8 mi Public K-4 4-5 5
      Woodlands Acad Of The Sacred Hrt 2.1 mi Catholic 9-12 0 4
      Lake Forest High School 2.3 mi Public 9-12 5 4
      Sheridan Elem School 2.6 mi Public K-4 4-5 4
      Montessori Sch Of Lake Forest 2.8 mi Private PRESCHOOL-9 0 4
      East Lake Academy 3.0 mi Catholic PRESCHOOL-8 0 5
      Rondout Elementary School 3.5 mi Public K-8 4-5 3
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for Lake Forest, IL
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.