Is Lakewood Township, 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 Township has remained a Seller's Market.
Housing Prices in Lakewood Township, NJ
How much do homes in Lakewood Township, NJ cost?
Median Sold Price
$315,322
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lakewood Township was $315,322 in May 2024, down 9% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $135K | +8.0% |
2 Bedrooms | $232.9K | $245K | +5.2% |
3 Bedrooms | $569K | $557K | -2.1% |
4 Bedrooms | $727.5K | $697K | -4.2% |
5+ Bedrooms | $899.9K | $994.4K | +10.5% |
Summary: Lakewood Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 5.2%, 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 Township | $394.9K | $440K | +11.4% |
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 Township, NJ
How many homes are available in Lakewood Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
224 | 238 | +6.3% |
Summary: The Lakewood Township real estate market had 238 homes for sale in May 2024, a 6.3% 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 | 121 | 120 | -0.8% |
3 Bedrooms | 34 | 39 | +14.7% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 37 | 47 | +27.0% |
Summary: The Lakewood Township 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 0.8%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 27%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 48 | -2.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Lakewood Township in May 2024, down by 2.0% month-over-month. Of the 48 sold homes, 54% were sold under asking, 29% were sold at asking, and 17% were sold over asking.
Days on Market for Lakewood Township, NJ
How long does it take to sell a home in Lakewood Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 43 Days | -19.4% |
Summary: Homes in Lakewood Township had an average of 43 days on market in May 2024, down by 19.4% compared to last year.
Breakdown of Home Sale Times
25 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, 48 homes were sold in Lakewood Township; 52% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.