Lakewood Real Estate
Lakewood, Colorado is a thriving suburban community located just west of Denver. With a population of over 156,000 people, Lakewood is the fifth-largest city in Colorado and is known for its excellent quality of life, outdoor recreation opportunities, and family-friendly environment. As a result, the real estate market in Lakewood is competitive and diverse, offering a range of housing options to suit the needs of any homebuyer.
Housing Market Overview:
The Lakewood housing market is one of the hottest in the Denver Metro area. The median home price in Lakewood is around $500,000, which is slightly higher than the average home price in the Denver Metro area. However, this price is reflective of the city’s desirability and proximity to Denver, as well as the high demand for homes in the area.
Real estate in Lakewood is diverse, with homes ranging from mid-century modern to new construction, single-family homes, townhomes, and condos. Homebuyers can choose from a variety of neighborhoods, each with their unique features, such as Belmar, Applewood, and Green Mountain. With over 50 parks, open spaces, and trails, many homes in Lakewood offer stunning views of the Rocky Mountains and the city skyline.
Real Estate Market Trends:
In recent years, the Lakewood real estate market has been marked by increasing home values and a limited inventory of homes. This trend has made it a seller’s market, with many homes receiving multiple offers within days of being listed. For buyers, this means being prepared to act quickly and potentially pay over the asking price to secure a home. However, for sellers, this is an excellent time to list their homes, as they are likely to receive multiple competitive offers.
As of 2021, the real estate market in Lakewood has been experiencing a steady increase in home prices, with a year-over-year increase of 11.8% in the median home price. The market has also seen a decrease in the number of homes available for sale, with a 36% decrease in inventory year-over-year. These trends suggest that the demand for homes in Lakewood is likely to continue to grow, driving up home prices and making it a more competitive market for buyers.
Future of the Lakewood Real Estate Market:
The future of the Lakewood real estate market looks promising. The city’s population is expected to continue to grow, which will likely result in increasing demand for housing. The expansion of the Denver Metro area’s light rail system has made Lakewood even more accessible to Denver’s downtown, making it an attractive option for those who work in the city.
As the demand for homes in Lakewood continues to grow, the city has been proactive in its planning efforts to address this growth. The city has implemented several measures to encourage the development of affordable housing and has also set goals to reduce greenhouse gas emissions and promote sustainable development. These efforts make Lakewood an even more attractive place to live, and the real estate market is likely to continue to be strong.
Conclusion:
Overall, the Lakewood real estate market is competitive, diverse, and promising. With its stunning natural surroundings, excellent quality of life, and family-friendly environment, it’s no wonder that so many people are attracted to this community. If you’re looking to buy or sell a home in Lakewood, it’s essential to work with an experienced real estate professional who understands the local market and can help you navigate the buying or selling process.