Is Lakewood Township, 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 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
$313,953
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lakewood Township have sold for 8.4% less than they did a year ago.
Summary: The median home sold price in Lakewood Township was $313,953 in April 2024, down 8.4% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124K | $134K | +8.1% |
| 2 Bedrooms | $233K | $245K | +5.1% |
| 3 Bedrooms | $560K | $559K | -0.2% |
| 4 Bedrooms | $739.5K | $690K | -6.7% |
| 5+ Bedrooms | $899.9K | $980K | +8.9% |
Summary: Lakewood Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 5.1%, 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 Township | $394.7K | $435.4K | +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 Township, NJ
How many homes are available in Lakewood Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 215 | 201 | -6.5% |
Summary: The Lakewood Township real estate market had 201 homes for sale in April 2024, a 6.5% 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 | 107 | 105 | -1.9% |
| 3 Bedrooms | 34 | 31 | -8.8% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 38 | 34 | -10.5% |
Summary: The Lakewood Township 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 1.9%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 48 | +9.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakewood Township, you may be able to get a good deal. 39.6% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in Lakewood Township in April 2024, up by 9.1% month-over-month. Of the 48 sold homes, 40% were sold under asking, 25% were sold at asking, and 35% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 65 Days | +38.8% |
Summary: Homes in Lakewood Township had an average of 65 days on market in Apr 2024, up by 38.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakewood Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 48 homes were sold in Lakewood Township; 48% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 17% 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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.