Lakewood Real Estate Summary For The First Three Quarters Of 2013

With the first 9 months complete it's time to look at how well we are doing in Lakewood Real Estate.

Looking at the figures on 9/30/13 there were 120 single family homes active on the market. The median breakdown was 3 bedrooms, 2 bathrooms, 1413 square feet, asking $124,950 and 69 days on the market. There were 23 homes in contingent status and 41 that were pending. As of 9/30/13 there were 322 homes that were sold in Lakewood. The medians for homes sold were 3 bedrooms, 2 bathrooms, 1535 square feet, selling at $125,577 in 41 days.

In 2012 there were 306 single family homes sold in the first 9 months. The 2012 medians were 3 bedrooms, 2 bathrooms, 1459 square feet, selling for $108,000 in 65 days. So the number of solds is up this year (322 vs. 306) with prices rising higher ($125,577 vs. $108,000) as well. Homes are also selling quicker (41 days vs. 65 days). With only 120 homes for sale, and the market averaging 36 solds per month, there isn't even a 4 month supply of homes on the market indicating it is still a good time to sell.

There were 49 condiminiums active on the market on 9/30/13. There were 5 in contingent status and 12 pending.  The medians on sold condominiums were 2 bedrooms, 2 bathrooms,  971 square feet, selling for $58,500 in 61 days. In the first 9 months of 2012, there were 81 sold with medians being 2 bedrooms, 1 bathroom, 873 square feet, for $49,000 in 79 days. The number of sales was down (72 vs. 81), but the prices are up ($58,500 vs. $49,000), and selling quicker (61 days vs. 79 days). With the market averaging 9 sales per month, there is an 8 month supply of condiminiums on the market. The good news is that the prices are higher.

For those of us that don't have a Farmers Almanac, we know the weather is an unknown factor. But Fall weather has been pretty warm so far. And so is the Real Estate market in Lakewood!

Pat Murphy is a licensed Real Estate Agent with Prudential Lucien Real Estate right here in Lakewood.

Patrick Murphy

Licensed Realtor at Prudential Lucien Realty.

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Volume 9, Issue 21, Posted 8:54 PM, 10.15.2013