Real Estate Market Update for 44107 (Lakewood, OH)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was down 42% from one year earlier, and down 14% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 120-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 37%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 130-thousand dollars. The number of units sold increased 33% year-over-year, and increased 25% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for 44107 (Lakewood, OH)
Area Information for 44107 (Lakewood, OH)
  • Population: 52,877
  • Median Age: 36.97 yr
  • Median Commute Time: 21 mins
  • Educational Climate*: 3
  • Sales Tax: 8%
  • Population Density: 9,592/sq mi
  • Population Change Since 2000: -7.03%
  • Closest Airport: Cleveland-hopkins International
  • Closest College: Bryant And Stratton College-parma
  • Closest Jr. College: Virginia Marti College Of Art And Design
  • Median Household Income: $45,110
  • Annual Residential Turnover: 20%
  • Median Home Sales Price: $115,000
  • Closest Major Sports Team: Cleveland Browns
  • Change Avg. Household Income Since 2000: 17.89%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 44107 (Lakewood, OH)
Median Age: 36.97 Married: 29% Number of Households: 25,608 Households with Children: 5,183
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 44107 (Lakewood, OH)

      School Name Distance Type Grades School Rating Parent Rating
      Grant Elementary School 0.0 mi Public PRESCHOOL-5 2 0
      Lakewood City Academy 0.0 mi Public 7-12 2 0
      Lakewood Lutheran School 0.4 mi Private K-8 0 0
      West Shore Career And Technical District 0.5 mi Public 9-12 0 0
      Lakewood High School 0.5 mi Public 9-12 2 4
      Lincoln Elementary School 0.7 mi Public K-5 4 0
      Roosevelt Elementary School 0.7 mi Public K-5 2 0
      Lakewood Catholic Academy 0.7 mi Catholic PRESCHOOL-8 0 0
      Harding Middle School 0.8 mi Public 6-8 4 0
      St Edward High School 0.8 mi Catholic 9-12 0 5
      Hayes Elementary School 0.9 mi Public PRESCHOOL-5 3 0
      Garfield Middle School 1.1 mi Public 6-8 3 0
      Pearl Academy Lakewood 1.2 mi Private - 0 0
      Horace Mann Elementary School 1.2 mi Public PRESCHOOL-5 2 0
      Brownstone Private Child Care 1.3 mi Private PRESCHOOL-K 0 0
      Harrison Elementary School 1.3 mi Public PRESCHOOL-5 1 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2015. School Performance data by School Review data by
      Local Weather for 44107 (Lakewood, OH)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.