Lakeview, OR is in the middle of an exciting real estate phase. It has the charm of a small town but with modern comforts. This region is drawing attention with its variety of properties. Keeping up with current trends and values is key for those looking to buy or sell here.
The real estate scene in Lakeview OR is always changing. The median sale price goes up and down. For example, the average price for a condo moved from $410K in mid-2018 to around $440K by the end of 20201. Prices for single-family homes are between $1.4 and $1.5 million. The market is stable, with inventory lasting less than three and a half months1. Looking ahead, condo prices might drop slightly, by about 2.5% from last year1.
Understanding this data is crucial. Zillow's insights can help shape smart investment strategies. This includes looking at housing features, who's moving in and out, and environmental concerns.
Key Takeaways
- Lakeview OR real estate is marked by dynamic property trends and varying inventory levels.
- The average sales price for Lakeview condos fluctuated between $410K in mid-2018 and nearly $440K at the end of 20201.
- Single-family homes in Lakeview maintain a balanced market with prices from $1.4 million to $1.5 million and an inventory of less than three and a half months1.
- As of November 1, 2021, condo prices in Lakeview decreased by approximately 2.5% compared to the previous year1.
- Zillow's market metrics offer valuable insights into Lakeview's property trends and market behavior.
Current Housing Market Trends in Lakeview
Lakeview's housing market is on the rise. The median home sale price there jumped to $628K last month. This is a 13.4% increase from last year2. More people are becoming interested in buying and investing there because of this growth.
Median Sale Price
The cost per square foot in Lakeview is now $335. That's a 25.7% climb since last year2. These rising prices are making Lakeview even more attractive. Buyers and sellers must know these numbers to make good moves in this market.
Market Forecast
Experts think Lakeview's real estate prices will keep going up. This optimism is based on a strong local economy and constant demand for homes. The latest forecasts suggest Lakeview's property values will stay strong or increase even more2. Knowing these trends can help buyers and sellers make the most of their deals.
Recent Property Listings in Lakeview
Lakeview, OR, is a real estate treasure waiting to be discovered. It draws various buyers with its unique properties. Among the newest are homes at 2102 Missouri Ave and 91132 W Hwy 140. These spots highlight Lakeview's active real estate scene. Those interested should dive into Lakeview recent property listings to make smart choices.
New Listings
The latest Lakeview listings show something for everyone. Just added, the homes at 2102 Missouri Ave and 91132 W Hwy 140 are prime examples. Knowing about these listings helps in making informed decisions on relocating or investing. Staying updated is key for anyone looking into home ownership or learning about Lakeview’s market.
Looking at recently sold homes gives even more insight. Sales at places like 18357 Andy Hill Rd and 91762 Shults Ln saw prices from $135,000 to $480,0003. Agencies like Patrick Iler Real Estate and Abbas Real Estate LLC helped make these happen3. For deeper understanding, checking out Lakeview’s recent listings is a must.
Lakeview's Real Estate Pricing Insights
Getting to know Lakeview's real estate means looking at key points like the median list price and the sale-to-list ratio. These figures tell us about property price trends in the area.
Median List Price
The median list price in Lakeview is $265,000, which is less than the U.S. average. This price point makes Lakeview appealing to buyers and investors. The area's median home value is $177,100, also making it an attractive market entry point4.
Lakeview has a booming rental sector. The average rent is $2,050 per month. Homes also appreciate at a rate of 9.53%, topping the national rate of 8.27%4.
Sale-to-List Ratio
The sale-to-list ratio tells us a lot about market health. In Lakeview, this ratio shows how sale prices compare to listing prices. A strong ratio means a lot of demand and often higher selling prices.
Lakeview has a fast-moving market. Homes sell quickly, sometimes at or above their asking prices5. There's also a high demand for rentals, with a very low vacancy rate of 0.8%4.
Lakeview's real estate has lots to offer, like lower home prices and high appreciation rates. It's a prime spot for buyers and investors looking for a good deal4.
Comparing Lakeview to Nearby Housing Markets
To really understand real estate, we need to look at Lakeview and its neighbors. We compare Lakeview with places like the 97630 area, Nuevo, and ZIP codes 92555, 92567, and 92571. This tells us about their prices, what's for sale, and how much people want to buy.
Lakeview has around 7 houses for sale now. Prices range from $479,900 to $1,300,0006. In the past year, the average price for a Lakeview house was $240,0007. This shows how Lakeview is different from nearby areas. For instance, Bakersfield's house prices jumped 37% last year to $244,8027. This shows how different areas can vary a lot.
Houses in Lakeview stay up for sale for about 72 days on average. This is way longer than the U.S. average of 44 days7. It shows that the demand and how quickly houses sell can vary greatly between Lakeview and other places.
Looking at what types of houses Lakeview has is key too. There are single-family homes, attached homes, and townhomes. Plus, there are nice things like parks and bike paths6. Knowing this can help buyers or investors make smarter choices by comparing these details.
If you want to understand the big picture, check out the trends in Chicago's North Side. Things are looking up there, with more houses being sold and prices going up. This is happening even though mortgage rates are rising. Learn more here6.
Home Features that Add Value in Lakeview
Understanding what Lakeview buyers want can really up your home's value. Delving into popular, value-boosting additions offers key tips for owners wanting to upgrade smartly.
Popular Home Features
In Lakeview, certain features can really hike up your home's price. Building an extra room or an extension like a bigger living area or a second floor8 can majorly up your property's value.
Making your home energy-efficient is also a great move. Think upgraded insulation, geothermal heating and cooling, and energy-smart windows and appliances8. These not only cut down on bills but also add to your home's market value, appealing to buyers who love the environment.
Revamping kitchens and bathrooms can also boost your home's worth. Modern and high-end finishes and fittings make these spaces more attractive to buyers8. Lakeview homes with these upgrades tend to fetch higher prices.
Lakefront homes have their own special appeal. For instance, in Port St. Lucie and Martin County, homes by the lake start at $10,000 more than others, with the best lake views fetching up to $25,000 extra9. In Vero Beach, being on the water can add as much as $40,000 to your home's value9. Lake views thus bring a strong added value.
Keeping up with regular maintenance is key to keeping your home's value. Taking care of leaks, freshening up the paint, and up-to-date appliances all help. Don't forget the outside – nice landscaping and a good first impression can also increase the value of your property8.
To really make your Lakeview home shine and get the best return, focusing on these valuable features is a smart strategy. For more on how lakefront views affect prices, click here10. Tinstructor
Migration Trends in Lakeview
Lakeview has seen big changes in who lives there because of people moving around. Many folks are moving out of the city or even farther. This has a big effect on houses and apartments in Lakeview.
Inbound Migration
More people are moving to Lakeview, especially from big cities like San Francisco, New York, and Seattle. They are looking for quieter places instead of busy cities. This is because cities are getting too crowded11.
In Lakeview, a house costs about $812,644 on average. This makes it one of the more expensive places to live in Illinois12.
Outbound Migration
But, 21% of people are also looking to move away from Lakeview. They're looking for cheaper places or better weather. Cities like Houston and Phoenix are popular choices11.
Even so, not many homes in Lakeview are empty. Only 4.4% are without people. This shows the housing market is still strong12.
People moving in and out of Lakeview is changing its housing market a lot. The area is known for its smart people, low poverty, and successful workers12. This keeps Lakeview an attractive place to live. It's important to keep an eye on these moving trends for the future.
Recently Sold Homes in Lakeview
The Lakeview real estate market has changed a lot recently. The sales of homes in Lakeview give us a clear view of what buyers like and how much properties are worth.
Recent Sales
Recently, 36 homes were sold in Lakeview with an average price of $535K13. These homes usually stayed up for sale for about 95 days and often got just one offer13. The time these homes spend on the market tells us about some specific things affecting sales in Lakeview.
Last month, people bought 29 homes, 23 condos, 1 townhouse, and 38 multi-family units in Lakeview13. We see a lot of different kinds of properties being sold. This shows us Lakeview’s real estate market is changing and growing.
Lakeview has a Walk Score of 62 and is quite walkable. It is where about 6,355 people live and there are 886 jobs13. Different types of buyers are drawn here, making the real estate market competitive13. Places like the French Quarter, Marigny, and others are where a lot of homes are being sold13. These locations have many types of homes that meet what buyers are looking for, showing how valuable Lakeview's real estate is.
Natural Hazards and Environmental Risks in Lakeview
Understanding Lakeview's natural hazards and environmental risks is essential for investors and homeowners. These elements can greatly influence property prices and insurance terms.
Natural Hazards
Lakeview is prone to various natural dangers like floods, fires, wind events, and intense heat due to its location. It's vital to carefully evaluate these risks for the community's safety and durability. The First Street Foundation highlights how crucial thorough assessments are.
Furthermore, the Community Reinvestment Act (CRA) of 1977 highlights the need for investments before disasters happen. These efforts are aimed at boosting resilience and reducing disaster impacts. To learn more about how the CRA helps communities, click here: official publication14.
Environmental Risks
Environmental threats in Lakeview's real estate also come from soil contamination, water pollution, and air issues. These factors can influence a property's desirability and value. Conducting thorough environmental checks is key to spotting and addressing these dangers.
The need to tackle environmental risks in real estate became clear after disasters like Hurricane Katrina, which resulted in $17 billion in damages15. Lakeview must be diligent to avoid similar threats.
Grasping the natural hazards and environmental risks in Lakeview helps stakeholders make smarter property choices. Being proactive about risk management and planning for resilience are crucial for protecting Lakeview's real estate scene.
Educational Institutions in Lakeview
Lakeview has educational options from elementary to high school, making it a desirable place to live. The Lake County School District #7 runs these schools, serving around 755 students. Its students are diverse, with 72% being white, 20% Latino, and 5% multiracial16.
Lakeview High School stands out with a 91% graduation rate in 2018–19. This rate is higher than the state's average of 79%16. Family feedback and parental involvement contribute to this success. These factors are reflected in the GreatSchools Rating.
The schools benefit from significant financial support. For instance, the Bernard Daly Educational Fund has helped over 2,000 students with scholarships since 192216. Lake County has more than $10 million in endowments for its public schools16.
Half of the district's students need free or low-cost lunches, showing a big need for community support16. This need affects how attractive Lakeview schools are to families looking for strong community networks.
Long-term studies show that 44% of Lake County's children go on to graduate from college16. This places the county in the top 11% in the U.S. for college grads16.
These points highlight how crucial Lakeview's schools are. They strengthen the community and affect property values. People often look at the GreatSchools Rating when choosing a school, as part of their home-buying decision.
Key Trends and Insights in Lakeview, OR's Real Estate Market
Lakeview, OR's real estate scene stands out with its distinct mix of trends. The past year saw the value of homes in Lakeview Estates increase by 7% from the year before. There was a 3% dip in prices from the previous month17. Economic shifts, interest rate changes, and demographic trends influence these swings17.
Since the COVID-19 outbreak, more people want bigger homes in less crowded areas. This change has caused a spike in demand17. Home prices in the area have slightly gone up, less than one percent monthly17. With more homes available in different styles, buyers and investors find great opportunities here17.
Key Takeaways
- The average sold prices in Lakeview Estates have risen by 7% year-over-year17.
- Month-over-month, there has been a slight drop of 3% in average sold prices17.
- Inventory continues to increase across all property types17.
- Lakeview Estates offers various property types, including single-family detached homes, townhomes, and condos17.
- Changes in housing preferences due to the COVID-19 pandemic have driven more people to seek larger homes in suburban or rural areas17.
Conclusion
The Lakeview real estate market is changing fast, with growth in both homes and businesses18.Info from the Cook County Assessor's Office shows property values going up. This is important for homeowners and people looking to invest.
The median sale price for Lakeview homes went up by 9.6% to $339,900 in March 202418.At the same time, fewer homes were sold compared to before. This points to a strong market where people really want to buy even though there aren't many houses available.
Rent prices in Lakeview are also interesting, changing a lot depending on the area18.In downtown, rents went up by 20.7% over the last year. This means the business real estate market is doing well because lots of people want spaces in great locations.
The future of Lakeview’s real estate looks good, but prices for homes and rent are going up18.But with the right advice from experts, making smart choices in this busy market is possible. For more info and stats, check out the Cook County Assessor's Office.
FAQ
What is the current median sale price of homes in Lakeview, OR?
Homes in Lakeview, OR, are selling for a median price of $628K. This is a 13.4% increase from last year, as the latest data shows.
What is the market forecast for Lakeview's real estate?
The market in Lakeview is expected to keep rising. Predictions say home values will steadily increase in the coming years.
What are some of the new property listings in Lakeview?
New listings in Lakeview include 2102 Missouri Ave and 91132 W Hwy 140. These are key for those new to the market or moving to the area.
What is the median list price of homes in Lakeview?
The median list price for a home in Lakeview is now $259,833. This gives a good idea of the current market pricing.
How does the sale-to-list ratio impact home sales in Lakeview?
The sale-to-list ratio shows if homes sell for more or less than their asking price. It's affected by demand and a property's features. This ratio is a big factor in sales prices meeting or exceeding list prices.
How does Lakeview's real estate market compare to nearby areas?
Comparing Lakeview to nearby markets like the 97630 or ZIP Codes 92555, 92567, and 92571 helps understand local pricing and demand. These areas serve as benchmarks.
Which home features add the most value in Lakeview?
Even though we lack specific Lakeview data, desirable home features usually include modern kitchens, updated bathrooms, and energy-saving appliances. Highlighting these can boost a home's value.
What are the current migration trends in Lakeview?
In Lakeview, 21% of property searches are from those planning to leave, while 79% want to stay. There's also interest from big cities like San Francisco, New York, and Seattle.
What are some recent home sales in Lakeview?
Recent sales, on dates like JUL 3, 2024, and JUN 26, 2024, show the market's activity. These sales reflect Lakeview's pricing and appeal.
What natural hazards and environmental risks should be considered in Lakeview?
Before buying, consider the risks of floods, fires, wind, and heat in Lakeview. These can affect safety, insurance, and property values.
How do educational institutions in Lakeview affect the real estate market?
Quality schools make Lakeview real estate more desirable. GreatSchools Ratings, student numbers, and parent feedback boost property values and community strength.
Source Links
- What are the Real Estate Market Conditions in Lakeview? - https://www.realgroupre.com/chicago-market-conditions-in-lakeview.html
- 31743 Wolfskill Ave, Nuevo, CA 92567 - https://www.redfin.com/city/23719/CA/Lakeview/housing-market
- Lakeview, OR Recently Sold Homes | realtor.com® - https://www.realtor.com/realestateandhomes-search/Lakeview_OR/show-recently-sold
- Best Neighborhoods To Invest In Lakeview, OR - https://ark7.com/blog/learn/cities/best-neighborhoods-to-invest-in-lakeview-or/
- Lakeview Calgary Home Buying Pros and Cons - https://www.marniecampbell.ca/blog/lakeview-calgary-home-buying-pros-and-cons.html
- RE/MAX Real Estate Central - https://www.remaxcentral.ab.ca/lakeview-real-estate-statistics.html
- Lakeview - https://www.homes.com/local-guide/bakersfield-ca/lakeview-neighborhood/
- Building a New Home with Resale Value in Mind - https://www.reinbrechthomes.com/blog/building-a-new-home-resale-value/
- How much does being lakeside add to the value of a house? (Palm Beach: foreclosure, new home) - Port St. Lucie - Sebastian - Vero Beach - Florida (FL) -St. Lucie, Martin, and Indian River counties (Treasure Coast) - https://www.city-data.com/forum/port-st-lucie-sebastian-vero-beach/2109975-how-much-does-being-lakeside-add.html
- Lakeview, Louisiana Housing Market Report June 2024 - https://www.rockethomes.com/real-estate-trends/la/lakeview
- ISA Briefing: US migration trends and (U)rbanization - LaSalle Investment Management - https://www.lasalle.com/research-and-insights/us-migration-trends-and-urbanization/
- LAKEVIEW - https://www.neighborhoodscout.com/il/chicago/lakeview
- Recently Sold Homes in Lakeview, LA - https://www.redfin.com/neighborhood/178857/LA/New-Orleans/Lakeview/recently-sold
- 11217 Kootenay Path, Lakeview, OH 43331 - https://www.redfin.com/city/10599/OH/Lakeview/housing-market
- New Orleans Profile - NOLA Ready - https://ready.nola.gov/hazard-mitigation/new-orleans-profile/
- Supporting Education in Lakeview » Oregon Community Foundation - https://oregoncf.org/community-impact/community-stories/supporting-education-in-lakeview/
- Lakeview Estates Housing Market Statistics July 24th 12:20pm - https://www.karleemushie.com/statistics/lakeviewestates.html
- Chicago Real Estate Market Trends and Forecast for 2024 - https://www.noradarealestate.com/blog/chicago-real-estate-market/
.png)
.png)
