The Long & Foster Market Minute

Focus On: Lakewood Housing Market June 2021

Zip Code(s): 08701
Units Sold
85
Active Inventory
139
Median Sale Price
$335,000
Days On Market
28
Up 33%
Vs. Year Ago
Down -55%
Vs. Year Ago
Up
Vs. Year Ago
Down -67%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 85 sold this month in Lakewood Real Estate versus 77 last month, an increase of 10%. This month's total units sold was higher than at this time last year, an increase of 33% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 171 units or 55%. The total number of active inventory this June was 139 compared to 310 in June 2020. This month's total of 139 is lower than the previous month's total supply of available inventory of 178, a decrease of 22%.

Median Sale Price
Last June, the median sale price for Lakewood Homes was $202,500. This June, the median sale price was $335,000, an increase of $132,500 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
91
Current Contracts
118
Sold Vs. List Price
101.4%
Months of Supply
1.6
Down -24%
Vs. Year Ago
Up 51%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Lakewood, compared to 4.8 in June 2020. That is a decrease of 66% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 91 homes newly listed for sale in Lakewood compared to 119 in June 2020, a decrease of 24%. There were 118 current contracts pending sale this June compared to 78 a year ago. The number of current contracts is 51% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lakewood was 101.4% of the average list price, which is 3.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 84, a decrease of 67%.

The Long & Foster Market Minute Lakewood are defined as properties listed in zip code/s 08701.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by MOMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MOMLS or Long & Foster Real Estate, Inc.