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Featured local agent — Lake Forest, IL
Sarah Mitchell
Compass Real Estate · Lake Forest, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lake Forest, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$1.22Mmedian sale price
How is the Lake Forest, IL housing market right now?
The median home sale price in Lake Forest, IL is $1.22M, down 3.7% year-over-year. Homes sell in an average of 49 days with 72 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lake Forest a buyer's or seller's market?
Lake Forest, IL is currently a strong seller's market, based on 2.5 months of supply and homes selling in about 49 days. How we determine this →
Homes sold
29
Last 12 weeks
Days on market
49
Average pace
Active listings
72
2.5 months supply
Sale-to-list
103.1%
Above asking
What does the Lake Forest housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $1.22M |
| Median list price | $1.40M |
| Year-over-year price change | -3.7% |
| Average days on market | 49 days |
| Active inventory | 72 listings |
| Months of supply | 2.5 months |
| Sale-to-list price ratio | 103.1% |
| Median price per sq ft | $386/sq ft |
| Homes sold (latest month) | 29 |
| New listings (latest month) | 36 |
| Listings with a price cut | 12.5% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Lake Forest by property type?
How the Lake Forest, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.32M | $387/sq ft | 24 | 49 days |
| Condo / Co-op | $800,000 | $386/sq ft | 3 | 47 days |
| Townhouse | $907,500 | $404/sq ft | 2 | 142 days |
Source: Redfin · Updated monthly
The Lake Forest housing market is currently classified as a strong seller's market with a median sale price of $1.22M. Prices have fallen 3.7% compared to last year, with homes spending an average of 49 days on market, indicating 2.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.5x provides context for how home values compare to local earning capacity.
Homes for sale in Lake Forest
There are currently 72 homes listed for sale in Lake Forest, Illinois. The median listing price is $1.4M.
Active listings
72
Homes on market
Median list price
$1.4M
Avg. days on market
49
Days until sale
New this week
36
Newly listed
Who lives in Lake Forest?
Population
19,190
Median income
$228,120/yr
Median age
46.1 years
Owner-occupied
89.3%
College grads
80.8%
Avg commute
33.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Lake Forest?
Zillow home value
$1.25M
Zillow rent index
$5,171/mo
Price-to-rent ratio
20.1x
Price-to-income
5.5x
Source: Zillow Research
What is it like to live in Lake Forest?
Lake Forest is a community of approximately 19K residents with a median age of 46.1 years.The median household income is $228,120, which reflects a relatively affluent area with strong earning potential. 80.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 89.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 33.7 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Lake Forest offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Lake Forest?
7 schools tracked · 3,181 students
The largest public schools serving Lake Forest, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Lake Forest High School
Grades 9-12 · 1,375 students
Deer Path Middle Sch West
Grades 7-8 · 382 students
Deer Path Middle Sch East
Grades 5-6 · 363 students
Cherokee Elem School
Grades K-4 · 339 students
Everett Elem School
Grades K-4 · 308 students
Sheridan Elem School
Grades PK-4 · 265 students
Rondout Elem School
Grades K-8 · 149 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Lake Forest, IL?
Want a head-to-head view? Compare Lake Forest side-by-side with any other U.S. city using our market-comparison tool.
Is Lake Forest a good real estate investment market?
For investors evaluating Lake Forest, the price-to-rent ratio of 20.1x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 3.7% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Lake Forest's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Lake Forest's median home price.
Frequently asked questions
What is the average home price in Lake Forest?
The median home sale price in Lake Forest is $1.22M, down 3.7% from last year.
How long do homes stay on market in Lake Forest?
Homes typically spend 49 days on market before going under contract.
What is the median income in Lake Forest?
The median household income is $228,120 per year.
Is Lake Forest a buyer's or seller's market?
With 2.5 months of supply, Lake Forest is currently a strong seller's market.
What is the Zillow home value estimate for Lake Forest?
The Zillow Home Value Index (ZHVI) for Lake Forest is $1.25M, representing the typical home value in the area.
What is the median condo price in Lake Forest?
The median condo/co-op sale price in Lake Forest, IL is $800,000, compared to $1.32M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Lake Forest?
The median single-family home price in Lake Forest, IL is $1.32M (about $387 per square foot).
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