Thu Feb 20 2020
This week the median list price for Lakewood, CA is $640,000 with the market action index hovering around 70. This is less than last month's market action index of 71. Inventory has held steady at or around 47.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$640,000|
|Per Square Foot||$440|
|Days on Market||57|
|Strong Seller's Market|
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$739,000||2,235||4,500 - 6,500 sqft||4||2||62||3||0||81|
|$677,500||1,542||4,500 - 6,500 sqft||3||2||70||4||1||10|
|$629,000||1,335||4,500 - 6,500 sqft||3||2||69||3||2||29|
|$549,500||1,048||4,500 - 6,500 sqft||3||1||68||1||2||110|