What You Need to Know About Lakewood Real Estate

Market Trends

Owning a home is an investment. Just like with stock investments, I’m sure you want to stay up to date on what the market is doing and if your home is continuing to gain equity. Being armed with this information is always smart even if you’re not looking to sell right now. You wouldn’t invest money in the stock market and just let it sit there wondering how it’s doing. No, you would check on regularly to make sure it’s doing what you want it to do, creating a return.

There are several different ways you can get access to this information. 

I’m going to be sharing broad information about the key areas I work in through my blogs and on social media. If you’re not already following me on Facebook or Instagram, be sure to do so.

If you would like more detailed information on a specific area, feel free to contact me to be set-up on a monthly or quarterly report. Through these reports, you’ll be able to access detailed information about your county or neighborhood. These reports will give you an overview of what the market is doing including – Days on Market, Median Sale Price, Average Sale Price, Price per Square Foot and Number of Sales.

If you own a home or are considering buying a home in Lakewood, here is a snapshot of what the real estate market did in January.

•    The average sale price was $718,290.

•    The average price per square foot was $267.

•    There is currently a 3.3-month supply of listings for sale in Lakewood.

•    35 new listings hit the market.

•    10 listings closed during the month.

So, what does this information tell us?

A normal housing market is when the listing supply has six months’ worth of inventory. We still see less than that, so it can still be considered a seller’s market. However, the higher the price point on the home, the longer it will take to sell. Don’t let that discourage you. All this means is you need to give yourself a little more of a timeframe to sell the home.

Don’t forget; I have a network of buyers in the area that are always looking to purchase. If you’re thinking about selling, let’s see if I have someone that might be interested in purchasing off-market.

I encourage you to start staying up-to-date on the real estate market trends in your area. Check back here regularly for information on Lakewood, Forest Hills, M Streets and other surrounding White Rock Lake areas.

 

 

*Data was Received on ntreis.stats.10kresearch.com/stats/market