Is Lakewood, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakewood is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Lakewood has remained a Seller's Market.

Key Takeaway

Lakewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lakewood, CO

How much do homes in Lakewood, CO cost?

Median Sold Price

$581,930

$319/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$18,287(+3.2%)

Key Takeaway

Homes in Lakewood have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Lakewood was $581,930 in March 2024, up 3.2% from last year, and the median price per square foot was $319.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $279.9K$267.5K
-4.5%
2 $366K$365K
-0.3%
3 $569.7K$565K
-0.8%
4 $660.2K$667.9K
+1.2%
5+ $764.6K$785K
+2.7%

Summary: Lakewood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

Morrison
+9.3%
Lakewood
+3.2%
Northeast Jefferson
+0.8%
Wheat Ridge
-4.3%
Edgewater
-9.8%

Housing Supply in Lakewood, CO

How many homes are available in Lakewood, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
494644+30.4%

Summary: The Lakewood real estate market had 644 homes for sale in March 2024, a 30.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3332
-3.0%
2 134177
+32.1%
3 166201
+21.1%
4 89143
+60.7%
5+ 7291
+26.4%

Summary: The Lakewood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 32.1%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 60.7%, and 5+ bedroom homes increased by 26.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
128175+36.7%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

93 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakewood, you could pay more than the asking price. 53.1% of homes here sold above asking price last month.

Summary: A total of 175 homes were sold or pending in Lakewood in March 2024, up by 36.7% month-over-month. Of the 175 sold homes, 26% were sold under asking, 21% were sold at asking, and 53% were sold over asking.

Days on Market for Lakewood, CO

How long does it take to sell a home in Lakewood, CO?

Average Sale Time

Mar 2023Mar 2024CHANGE
27 Days29 Days+7.7%

Summary: Homes in Lakewood had an average of 29 days on market in Mar 2024, up by 7.7% compared to last year.

Breakdown of Home Sale Times

132 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

21 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lakewood are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 175 homes were sold in Lakewood; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Lakewood, CO

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