Is Lakewood Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakewood Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Lakewood Township, NJ

How much do homes in Lakewood Township, NJ cost?

Median Sold Price

$350,777

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$37,776(+12.1%)

Key Takeaway

Homes in Lakewood Township have sold for 12.1% more than they did a year ago.

Summary: The median home sold price in Lakewood Township was $350,777 in November 2024, up 12.1% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $130K$143.9K
+10.7%
2 $241.3K$246.3K
+2.1%
3 $555K$586K
+5.6%
4 $750K$697K
-7.1%
5+ $899.9K$999.9K
+11.1%

Summary: Lakewood Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Cities

Lakewood Township
+12.1%
Lakewood
+11.3%
Brick Township
+10.8%
Howell
+8.9%
Howell Township
+7.8%

Housing Supply in Lakewood Township, NJ

How many homes are available in Lakewood Township, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
246232-5.7%

Summary: The Lakewood Township real estate market had 232 homes for sale in November 2024, a 5.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2017
-15.0%
2 127113
-11.0%
3 4851
+6.3%
4 1113
+18.2%
5+ 4038
-5.0%

Summary: The Lakewood Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15%, 2 bedroom homes decreased by 11%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5148-5.9%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakewood Township, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Lakewood Township in November 2024, down by 5.9% month-over-month. Of the 48 sold homes, 52% were sold under asking, 25% were sold at asking, and 23% 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

Nov 2023Nov 2024CHANGE
45 Days39 Days-12.5%

Summary: Homes in Lakewood Township had an average of 39 days on market in Nov 2024, down by 12.5% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 48 homes were sold in Lakewood Township; 54% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 10% 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 12 Days Ago

Newest Listings in Lakewood Township, NJ

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