Lakewood, CA Market Update

Real Estate Agent with Keller Williams Coast Properties CalBRE# 01375989

October was a relatively slow month for Real Estate in Signal Hill.

Accroding to the SoCal MLS database, there were

64 sales in all of Lakewood in October

61 Single Family sales

3 Condo/Attached sales

No homes sold above $650,000.

No condos sold above $250,000.

Average days on market was 64

Lakewood is left with 170 active listings as of 10/31/2009.

So, what does all of this mean?  There are only about 2.5 months supply of properties available, and over almost 90% of the available homes are below $500,000 where there are still many, many buyers.  Unfortunately, a high number of those homes still on the market are short sales.

On a positive note, I just closed escrow on a home in the Westgate area of Lakewood for $649,900!  Now there's a start!

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Richard Daskam

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