Is Lakewood, NJ 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, NJ
How much do homes in Lakewood, NJ cost?
Median Sold Price
$325,500
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lakewood was $325,500 in April 2024, down 6.4% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122K | $134K | +9.8% |
2 Bedrooms | $240K | $249.4K | +3.9% |
3 Bedrooms | $560K | $559K | -0.2% |
4 Bedrooms | $739.5K | $690K | -6.7% |
5+ Bedrooms | $899.9K | $980K | +8.9% |
Summary: Lakewood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 3.9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
Brick | $389.9K | $430K | +10.3% |
Howell Township | $549K | $585K | +6.6% |
Howell | $550K | $583.1K | +6.0% |
Lakewood | $347.8K | $325.5K | -6.4% |
Lakewood Township | $342.6K | $313.9K | -8.4% |
Housing Supply in Lakewood, NJ
How many homes are available in Lakewood, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
211 | 197 | -6.6% |
Summary: The Lakewood real estate market had 197 homes for sale in April 2024, a 6.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 13 | -13.3% |
2 Bedrooms | 104 | 101 | -2.9% |
3 Bedrooms | 34 | 31 | -8.8% |
4 Bedrooms | 21 | 18 | -14.3% |
5+ Bedrooms | 37 | 34 | -8.1% |
Summary: The Lakewood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.3%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 8.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
43 | 47 | +9.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Lakewood in April 2024, up by 9.3% month-over-month. Of the 47 sold homes, 40% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Lakewood, NJ
How long does it take to sell a home in Lakewood, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 66 Days | +38.8% |
Summary: Homes in Lakewood had an average of 66 days on market in Apr 2024, up by 38.8% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 47 homes were sold in Lakewood; 47% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.