What to Expect from the Real Estate Market in Lakewood, Lakewood, and Lakewood in 2024

In 2024, Lakewood, a prominent neighborhood in Dallas, Texas, has experienced significant shifts in its real estate market, marked by declining home prices, increased inventory, and evolving market dynamics.

Declining Home Prices

As of October 2024, the median home sale price in Lakewood was approximately $1.1 million, reflecting an 11.8% decrease compared to the previous year. This decline contrasts with the broader Dallas market, where home prices rose by 10.3% during the same period.

Redfin

Redfin

Increased Inventory

The number of homes for sale in Lakewood has grown, with 51 active listings in October 2024, a 4.1% increase from September. Notably, the inventory of five or more-bedroom homes rose by 35.7%, indicating a broader range of options for potential buyers.

Rocket Homes

Market Dynamics

Homes in Lakewood are spending more time on the market, with an average of 35 days in October 2024, up from 32 days the previous year. This trend suggests a shift towards a more balanced market, offering buyers increased leverage in negotiations.

Redfin

Comparative Analysis

Despite the recent price decline, Lakewood's median home price remains higher than the Dallas median of $450,000, underscoring its status as a desirable neighborhood.

Redfin

Market Outlook

The Dallas-Fort Worth area is projected to experience a more balanced real estate market in 2025, with increased housing supply and stabilized prices. Lakewood's current trends align with this forecast, suggesting a favorable environment for buyers in the near future.

Home Buying Institute

Conclusion

Lakewood's real estate market in 2024 reflects a transition towards equilibrium, characterized by declining prices and increased inventory. Prospective buyers and sellers should stay informed about these trends to make strategic decisions in this evolving market landscape.

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About us: Lakewood New Construction Expert Real Estate Agent

As a Top Real Estate Professional in Lakewood, I understand the challenges that arise when buying a new construction home. There are over 100 builders in the DFW area. I work with most of the new home builders in Lakewood and understand how various builders operate. I am familiar with the options they offer, current incentives and I frequently visit the upcoming communities they are building. I guide my clients through all steps of the new home construction process and aggressively protect their interests in the transaction.

As a holder of top real estate industry certifications and designations like CRS, ABR & GRI, I can offer my clients experience as a Buyer's Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.

Whether you are a first time buyer in Lakewood looking to buy a home in Fields or whether you are relocating to Lakewood from California or moving your entire family from areas like San Francisco, Fremont, Palo Alto, Los Angeles, San Diego in California due to job transfer with your company, I can help you find a new construction home in Lakewood. Our relocation team eases the transition - whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. We have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.

What is most important to you in your new construction home in Lakewood? Send us an email at info@NitinGuptaDFW.com or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Fields community that you can use to help make your home buying decision.