The median prices of homes in Lake County made a big increase in October while homes sales declined slightly for the second straight month mainly because the government shutdown slowed the closing of some escrows. The housing supply conditions continued to dwindle as the housing market entered its off season according to information gathered from the Lake County Multiple Listing Service.
The median home price climbed sharply in October and was also higher on a year-to-year basis. The county wide median price of a home was up 48 percent from September’s median price of $125,000 to $185,000 in October. October price was 95.8 percent higher than $94,500 recorded in October of 2012. Good News for Lake County!