Is Lakewood, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakewood is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Lakewood has remained a Seller's Market.

Key Takeaway

Lakewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lakewood, CA

How much do homes in Lakewood, CA cost?

Median Sold Price

$820,000

$607/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$18,000(+2.2%)

Key Takeaway

Homes in Lakewood have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Lakewood was $820,000 in February 2024, up 2.2% from last year, and the median price per square foot was $607.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $429K$413K
-3.7%
2 $717.5K$750K
+4.5%
3 $810K$825.1K
+1.9%
4 $870K$875K
+0.6%
5+ $995K$971.3K
-2.4%

Summary: Lakewood housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 2.4%.

Median Sold Price Compared To Nearby Cities

Bellflower
+3.5%
Cerritos
+3.1%
Lakewood
+2.2%
Long Beach-Lakewood
+1.9%

Housing Supply in Lakewood, CA

How many homes are available in Lakewood, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
10285-16.7%

Summary: The Lakewood real estate market had 85 homes for sale in February 2024, a 16.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1311
-15.4%
3 6555
-15.4%
4 2011
-45.0%
5+ 37
+133.3%

Summary: The Lakewood housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 45%, and 5+ bedroom homes increased by 133.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4624-47.8%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakewood, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in Lakewood in February 2024, down by 47.8% month-over-month. Of the 24 sold homes, 21% were sold under asking, 13% were sold at asking, and 67% were sold over asking.

Days on Market for Lakewood, CA

How long does it take to sell a home in Lakewood, CA?

Average Sale Time

Feb 2023Feb 2024CHANGE
26 Days24 Days-8.4%

Summary: Homes in Lakewood had an average of 24 days on market in Feb 2024, down by 8.4% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakewood are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 24 homes were sold in Lakewood; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Lakewood, CA

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