Is Lakewood, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lakewood has remained a Seller's Market.
Housing Prices in Lakewood, NJ
How much do homes in Lakewood, NJ cost?
Median Sold Price
$325,225
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lakewood was $325,225 in May 2024, down 7.1% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $124.5K | $137.5K | +10.4% |
2 Bedrooms | $240K | $249K | +3.8% |
3 Bedrooms | $569K | $557K | -2.1% |
4 Bedrooms | $727.5K | $697K | -4.2% |
5+ Bedrooms | $899.9K | $994K | +10.5% |
Summary: Lakewood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
Brick | $390K | $434.9K | +11.5% |
Howell | $550K | $586.1K | +6.6% |
Howell Township | $549.9K | $585.1K | +6.4% |
Lakewood | $350.2K | $325.2K | -7.1% |
Lakewood Township | $346.6K | $315.3K | -9.0% |
Housing Supply in Lakewood, NJ
How many homes are available in Lakewood, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
218 | 231 | +6.0% |
Summary: The Lakewood real estate market had 231 homes for sale in May 2024, a 6.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 14 | -6.7% |
2 Bedrooms | 116 | 114 | -1.7% |
3 Bedrooms | 34 | 39 | +14.7% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 36 | 46 | +27.8% |
Summary: The Lakewood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.7%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 45 | -6.3% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Lakewood in May 2024, down by 6.3% month-over-month. Of the 45 sold homes, 53% were sold under asking, 29% were sold at asking, and 18% were sold over asking.
Days on Market for Lakewood, NJ
How long does it take to sell a home in Lakewood, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
55 Days | 45 Days | -18.3% |
Summary: Homes in Lakewood had an average of 45 days on market in May 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 45 homes were sold in Lakewood; 49% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.