What you should know – Orange County Register

Across Lake Forest 95 existing residences homes sold vs. 106 a year ago in August, a 10 percent dip.

That’s one homebuying highlights for Lake Forest, Foothill Ranch and Portola Hills from ReportsOnHousing’s latest report. This house-hunting data tracks resales of existing detached and attached residences in the communities.

Analysis includes August trends based on closed sales: sale counts; average price vs. average list price; high and low price paid in the month; average cost per square foot and average size; plus, based on broker listing networks stats on Sept. 7, the “market time” metric comparing supply of listings to new escrows opened in past 30 days.

In main parts of Lake Forest …

Sales: 71 sold vs. 74 a year ago.

Average sales price: $599,425 that ranked No. 36 out of 46 Orange County markets tracked and was up 9.1 percent in a year.

Compared to list: Sellers got 99.0 percent of what they typically asked for, ranking No. 18 of the 46 markets.

Range: High sale of $1,075,000 vs. the $255,000 low.

Sizing: On average, buyers paid $362 per square foot on a 1,658 square-foot residence. This pricing metric was up 3.9 percent in a year.

Market speed: 32 days, listing to escrow opened vs. 52 days a year ago and 62 days two years ago.

In Foothill Ranch …

Sales: 18 sold vs. 25 a year ago.

Average sales price: $705,697 that ranked No. 24 out of 46 Orange County markets tracked and was up 16.4 percent in a year.

Compared to list: Sellers got 100 percent of what they typically asked for, ranking No. 4 of the 46 markets.

Range: High sale of $902,000 vs. the $315,000 low.

Sizing: On average, buyers paid $386 per square foot on a 1,829 square-foot residence. This pricing metric was up 7.5 percent in a year.

Market speed: 21 days, listing to escrow opened vs. 43 days a year ago and 72 days two years ago.

In Portola Hills …

Sales: 6 sold vs. 7 a year ago.

Average sales price: $511,167 that ranked No. 42 out of 46 Orange County markets tracked and was down 0.1 percent in a year.

Compared to list: Sellers got 100.1 percent of what they typically asked for, ranking No. 3 of the 46 markets.

Range: High sale of $662,000 vs. the $305,000 low.

Sizing: On average, buyers paid $374 per square foot on a 1,367 square-foot residence. This pricing metric was up 3.9 percent in a year.

Market speed: 45 days, listing to escrow opened vs. 43 days a year ago and 43 days two years ago.

Compare those patterns to countywide trends …

Sales: 3,110 sold vs. 3,069…

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