Is Lakewood, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lakewood has remained a Seller's Market.
Housing Prices in Lakewood, CA
How much do homes in Lakewood, CA cost?
Median Sold Price
$830,000
$607/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lakewood was $830,000 in March 2024, up 3.8% from last year, and the median price per square foot was $607.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $424.5K | $415K | -2.2% |
2 Bedrooms | $715K | $751K | +5.0% |
3 Bedrooms | $801K | $834.8K | +4.2% |
4 Bedrooms | $859K | $885K | +3.0% |
5+ Bedrooms | $995K | $980K | -1.5% |
Summary: Lakewood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
Cerritos | $950.7K | $1.0M | +5.6% |
Bellflower | $715.5K | $748.5K | +4.6% |
Lakewood | $800K | $830K | +3.8% |
Long Beach-Lakewood | $784.6K | $800.9K | +2.1% |
Housing Supply in Lakewood, CA
How many homes are available in Lakewood, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
91 | 100 | +9.9% |
Summary: The Lakewood real estate market had 100 homes for sale in March 2024, a 9.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 7 | -36.4% |
3 Bedrooms | 60 | 69 | +15.0% |
4 Bedrooms | 12 | 14 | +16.7% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Lakewood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 33 | +26.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Lakewood in March 2024, up by 26.9% month-over-month. Of the 33 sold homes, 18% were sold under asking, 3% were sold at asking, and 79% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 14 Days | -68.9% |
Summary: Homes in Lakewood had an average of 14 days on market in Mar 2024, down by 68.9% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Lakewood; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.