Lakewood, Colorado March 2023 Real Estate Market Snapshot
The real estate market in Lakewood, Colorado, has been experiencing significant growth and appreciation in recent years. The city has a population of over 157,000 people and is located just west of Denver. It is known for its beautiful parks, trails, and lakes, making it an attractive destination for outdoor enthusiasts. In this article, we will take a closer look at the current state of the Lakewood, Colorado, real estate market and the trends that have been shaping it.
Estimated Home Values
According to recent data, the median estimated home value in Lakewood, Colorado, as of February 28th, 2023, is $581K. This represents a 0.56% decrease over the previous month, a 3.52% decrease over the previous three months, but a 4.21% increase over the previous 12 months. Additionally, the median estimated home value has increased by an impressive 23.04% over the last 24 months.
Market Snapshot: 12-Month Change in Estimated Value
The Lakewood, Colorado, real estate market has experienced significant appreciation in the last three years, with a 33.15% increase in median estimated home value since February 28th, 2020. Over the past 12 months, there has been a 4.21% increase in median estimated home value, and over the past 24 months, there has been a 23.04% increase.
Sales Price
As of February 28th, 2023, the median sales price in Lakewood, Colorado, is $570K. This represents a 6.45% increase over the previous month, an 8.48% increase over the previous three months, and a 1.51% decrease over the previous 12 months. Over the past 24 months, the median sales price has increased by an impressive 21.17%.
List Price
The median list price in Lakewood, Colorado, as of February 28th, 2023, is $625K. This represents a 6.46% increase over the previous month, a 4.15% increase over the previous three months, and a 5.2% increase over the previous 12 months. Over the past 24 months, the median list price has increased by 13.62%.
What Does this Mean for Buyers and Sellers?
The Lakewood, Colorado, real estate market has been experiencing significant growth in recent years, and this trend is expected to continue. For buyers, this means that competition for properties is likely to remain high, making it important to act quickly and work with a knowledgeable real estate agent who can help navigate the market. For sellers, this means that it is currently a seller's market, with high demand for properties and the potential for multiple offers. It is essential to work with a reputable real estate agent who can help price the property correctly and market it effectively.
Overall, the Lakewood, Colorado, real estate market is experiencing strong growth and appreciation, making it an attractive destination for both buyers and sellers. With a beautiful location, excellent amenities, and a strong economy, Lakewood is poised for continued growth in the years to come. Whether you are buying or selling a property in this area, it is essential to work with a knowledgeable real estate agent who can help you navigate the market and achieve your goals.
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