Market Analysis for the Week of February 9, 2026
The Lake County housing market has continued with its steady performance this week, as indicated by the fact that key metrics barely moved compared to the previous month. The median list price has stabilized at $405,495, while the Market Action Index holds at 31, about midpoint relative to other market conditions. The biggest change shows in inventory, which has swelled to 2,380 properties currently available for sale. This increase in supply can give buyers more choice while keeping the broader seller-friendly conditions of the market intact.
With a Market Action Index of 31, Lake County shows a Slight Seller's Advantage. The MAI, which measures the rate of sales relative to available inventory, indicates a market in equilibrium. We're seeing neither significant acceleration nor deceleration in market activity.
What is in the market now is price equilibrium. Median prices are holding around recent highs after several weeks of stagnation. But the absence of upward price movement indicates buyer appetite has settled some, despite limited supply.
The "Slight Seller's Advantage" rating means sellers are still in a little bit of an advantageous position, but they must also be mindful of what's happening within the market. The inventory levels are neither tight enough that sales activity explodes into aggressive price appreciation nor so loose that it grows to a buyer's market or even neutral territory.
Pricing Indicators:
Median List Price: $405,495
Median Price of New Listings: $400,000
Price Per Square Foot: $213
Market Velocity:
Average Days on Market: 123 days
Median Days on Market: 84 days
Seller Activity:
Price Reductions: 43% of active listings
Price Increases: 2% of active listings
Relisted Properties: 5% of inventory
Supply:
Total Active Inventory: 2,380 properties
Rental Market:
Median Monthly Rent: $2,300
The high percentage of price reductions (43%) is the largest indicator and does not bode well in today's market. This suggests that some sellers priced their homes too high to begin with and are now being hit hard by reality. There is obviously not much pricing power for sellers even though the market label shows Slight Seller's Advantage.
The median number of days homes were on the market at 84 days points to a moderate sales pace. Homes are selling, but not fast. This time frame gives buyers enough time to evaluate properties, but avoids danger of the market tipping into oversupply.
It seems prices have peaked for now. Without an uptick in the Market Action Index, we're not expecting much of a change in current market conditions within the next week. Low supply has also kept a floor under prices, discouraging steep declines.
Lake County's residential market can be divided into four distinct price quartiles, each representing approximately 25% of total inventory.
Entry Level Segment: $289,000 Median
Average Size: 1,450 square feet
Typical Configuration: 3 bedrooms, 2 bathrooms
Lot Size: 6,500 to 8,000 square feet
Average Age: 30 years
Days on Market: 91
Lower Middle Segment: $369,900 Median
Average Size: 1,834 square feet
Typical Configuration: 3 bedrooms, 2 bathrooms
Lot Size: 6,500 to 8,000 square feet
Average Age: 18 years
Days on Market: 84
This segment is performing the best and has all of the strongest acceleration categories.
Upper Middle Segment: $469,000 Median
Average Size: 2,198 square feet
Typical Configuration: 4 bedrooms, 3 bathrooms
Lot Size: 8,000 to 10,000 square feet
Average Age: 14 years
Days on Market: 91
Premium Segment: $743,900 Median
Average Size: 2,960 square feet
Typical Configuration: 4 bedrooms, 3 bathrooms
Lot Size: 0.25 to 0.5 acre
Average Age: 12 years
Days on Market: 88
Curiously, the premium segment is moving almost as fast as the mid-level segments, a sign that demand at the top of the market is healthy.
Right now, the Lake County market is in a holding pattern. Several scenarios could emerge:
Bullish Scenario:
If the Market Action Index rises into the upper range and continues higher, then we would expect to see upward price movement. It would take either more buyers doing business or fewer homes available to sell to give the current Slight Seller's Advantage some real teeth.
Neutral Scenario (Most Likely):
Nothing much changes, and the market carries along with a modest supply of homes for sale on a fairly flat curve between sales volumes. The Slight Seller's Advantage continues and there are no substantial changes in either direction. This path seems one of least resistance under current fundamentals.
Bearish Scenario:
A continued reduction in the Market Action Index could lead to falling prices and may signal a buying opportunity for the market. This would be driven by either rising inventory or reduced buyer demand, which could erode the Slight Seller's Advantage and put downward pressure on prices, particularly given the high percentage of listings already experiencing price reductions.
For Buyers:
Sellers still have a slight edge when it comes to negotiations, but rising inventory means you're likely to find more properties in your desired area and price range. More options for buyers come with higher negotiating power, especially on listings that have been reduced in price. The market is no longer friendly to aggressive bidding or waiving contingencies.
For Sellers:
The Slight Seller's Advantage indicates you're in a relatively desirable position, though attention to detail when pricing your home will be crucial. The 43% price reduction rate suggests that the market is penalizing inflated pricing. Homes that were priced right from the beginning are still selling within normal timeframes.
The Market Action Index seems to have settled at a level resulting in a stable market. Monitor this metric closely as it is a leading indicator for price action and potential shifts in market advantage.
For updated market information and analysis of Lake County real estate, visit www.maimone1.com.
