Is Lakewood, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lakewood has remained a Seller's Market.
Housing Prices in Lakewood, OH
How much do homes in Lakewood, OH cost?
Median Sold Price
$289,875
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lakewood was $289,875 in April 2024, up 3.5% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $77K | $97.5K | +26.6% |
2 Bedrooms | $166.2K | $180.5K | +8.6% |
3 Bedrooms | $270K | $289K | +7.0% |
4 Bedrooms | $308.7K | $329.4K | +6.7% |
5+ Bedrooms | $348K | $372K | +6.9% |
Summary: Lakewood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.6%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
Rocky River | $323.5K | $360K | +11.3% |
Lakewood | $280K | $289.8K | +3.5% |
Fairview Park | $250K | $257.9K | +3.2% |
Cleveland | $155.3K | $157.3K | +1.3% |
Housing Supply in Lakewood, OH
How many homes are available in Lakewood, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
142 | 158 | +11.3% |
Summary: The Lakewood real estate market had 158 homes for sale in April 2024, a 11.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 31 | +47.6% |
2 Bedrooms | 35 | 30 | -14.3% |
3 Bedrooms | 33 | 35 | +6.1% |
4 Bedrooms | 35 | 43 | +22.9% |
5+ Bedrooms | 18 | 19 | +5.6% |
Summary: The Lakewood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 47.6%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 51 | +45.7% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Lakewood in April 2024, up by 45.7% month-over-month. Of the 51 sold homes, 39% were sold under asking, 4% were sold at asking, and 57% were sold over asking.
Days on Market for Lakewood, OH
How long does it take to sell a home in Lakewood, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 27 Days | +6.8% |
Summary: Homes in Lakewood had an average of 27 days on market in Apr 2024, up by 6.8% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 51 homes were sold in Lakewood; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.