Market Update: What's Hot In Lakewood Real Estate

It's May 7th, and the Lakewood Real Estate Market remains active with single family homes in demand. Currently there are only 96 homes for sale in the market. So where could we use more inventory? I'll  tell you in a moment...

Currently there are 65 homes under contract.  The breakdown:

  • 35% under $100,000
  • 35% between $100 - $150,000
  • 17% between $150 - $200,000
  • 12% over $200,000

Year to date 119 homes have sold and transferred. The breakdown:

  • 44% under $100,000
  • 28% between $100 - $150,000
  • 17% between $150 - $200,000
  • 11% over $200,000

Of the 119 homes sold since January 1st, nearly 30% have sold AT or OVER list price! Yes, we are seeing multiple offers and sales over list price once again in all price points.

So, where could we use more inventory? Of the 96 homes for sale on the market, there are:

  • 35% under $100,000
  • 39% between $100 - $150,000
  • 13% between $150 -$200,000
  • 14% over $200,000

There is a shortage of quality inventory between $150 -$200,000. We typically see an increase in inventory each month starting in February, with a peak in July/August. If you recall from past articles however, we have been hovering around the 100 market each and every month this year. Quality homes, priced appropriately, are selling quickly. 

Now is the time to contact a professional and see how your home stacks up in the current market. You may be surprised by the results. As I've said before, your home may be worth more than you think. I've been asked often lately if now is a good time to try a "For Sale By Owner"? My response....."No way!" With nearly 30% of sales going at or over list price sellers need to expose their home to as many buyers as possible to realize the best and highest offer.  Having a professional provide maximum market exposure is the only assurance you will get true market value for your home. 

So whether you've been wondering if now is the right time to sell, or if you just want to see how your home would stack up against the competition, contact a professional and ask for a Highest Price Analysis. And remember, you can always track home values and neighborhood activity at www.HomeValuesInLakewood.Info.

Chris Bergin is a licensed real estate agent with Prudential Lucien Realty in Lakewood and may be reached at

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Volume 9, Issue 10, Posted 10:52 PM, 05.14.2013