Is Lake Como, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lake Como was a Buyer's Market.
Key Takeaway
Lake Como is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Como, NJ
How much do homes in Lake Como, NJ cost?
Median Sold Price
$679,900
$554/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Como have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Lake Como was $679,900 in May 2024, up 8.8% from last year, and the median price per square foot was $554.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $340K | -2.9% |
| 2 Bedrooms | $612.5K | $475K | -22.4% |
| 3 Bedrooms | $657.5K | $705K | +7.2% |
| 4 Bedrooms | $865K | $1.1M | +37.3% |
| 5+ Bedrooms | $685.5K | $900K | +31.3% |
Summary: Lake Como housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 22.4%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 37.3%, and 5+ bedroom homes increased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Belmar | $640K | $783.2K | +22.4% |
| Wall Township | $704.5K | $782.1K | +11.0% |
| Spring Lake | $905K | $997.4K | +10.2% |
| Lake Como | $625K | $679.9K | +8.8% |
Housing Supply in Lake Como, NJ
How many homes are available in Lake Como, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Lake Como real estate market had 9 homes for sale in May 2024, a 10.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lake Como housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Como, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Lake Como in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Lake Como, NJ
How long does it take to sell a home in Lake Como, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 76 Days | +1426.7% |
Summary: Homes in Lake Como had an average of 76 days on market in May 2024, up by 1426.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lake Como are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Lake Como; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.