Lakewood, CA Real Estate & Homes For Sale

As of November 2023, the housing market in Lakewood has seen a significant increase, with home prices rising by 12.0% compared to the previous year, bringing the median price to $840K. Homes in Lakewood are selling faster, averaging 23 days on the market, a decrease from last year's 39 days. However, the number of homes sold in November this year was 30, which is lower compared to 53 homes sold in the same month last year.

The housing market in Lakewood is extremely competitive. Properties typically sell within 23.5 days. It's common for many homes to receive multiple offers, often with contingencies being waived. On average, homes in Lakewood sell for approximately 2% above the listed price and tend to go pending in around 24 days. Homes that are particularly sought-after, or 'hot' homes, may sell for around 4% above the listed price and go pending in as few as 10 days.

Lakewood, CA, situated ten miles southeast of Los Angeles, is renowned for being a pioneering city in American suburban development. In 1950, the Lakewood Park Company initiated the construction of what would become the nation's first major post-war planned housing development. This groundbreaking project involved building approximately 17,500 houses over an area of about 3,500 acres, setting a precedent for suburban development in the post-war era.

Lakewood, CA, provides its residents with a closely-knit suburban atmosphere, where most people own their homes. The area is abundant with various amenities, including a wide array of restaurants, coffee shops, and parks. It's a popular choice among young professionals, and the community generally leans towards liberal views. Additionally, the public schools in Lakewood are highly regarded, further enhancing its appeal as a place to live.