From July through September of 2017, there were nine homes sold, with a median sale price of $252,000 - a 24.8% decrease over the $335,000 median sale price for the same period of the previous year. There were nine homes sold in Forest Lake in the third quarter of 2016, as well.
The median sales tax in Forest Lake for 2017 was $5,623.80. In 2016, the median sales tax was $5,581.10. This marks an increase of 0.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.2%.
The following table compares Forest Lake to other Lake County cities with similar median sales prices in the third quarter of 2017:
| City | July - Sept. 2017 Home Sales | July - Sept. 2016 Home Sales | % change (Total Home Sales) | July - Sept. 2017 Median Sales Price | July - Sept. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Wadsworth | 18 | 21 | -14.3% | $271,500 | $315,000 | -13.8% |
| Third Lake | 5 | 8 | -37.5% | $263,000 | $248,200 | 6% |
| Port Barrington | 2 | 2 | 0% | $263,000 | $250,500 | 5% |
| Gurnee | 176 | 159 | 10.7% | $256,500 | $225,000 | 14% |
| Mylith Park | 2 | 2 | 0% | $252,300 | $112,000 | 125.3% |
| Forest Lake | 9 | 9 | 0% | $252,000 | $335,000 | -24.8% |
| Echo Lake | 5 | 4 | 25% | $251,000 | $165,500 | 51.7% |
| Klondike | 2 | 1 | 100% | $250,750 | $172,000 | 45.8% |
| Volo | 7 | 13 | -46.2% | $239,900 | $237,500 | 1% |
| Wauconda | 62 | 43 | 44.2% | $225,750 | $225,000 | 0.3% |
| Lake Villa | 69 | 47 | 46.8% | $217,000 | $230,000 | -5.7% |
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