Residential Property Sale in Lakewood Exceeds Average Market Prices

A single-family residence located at 1820 Hoyt St, Lakewood, 80215, was sold on December 20, 2023, for a price of $1,400,000. A notable aspect of this sale is that the house boasts a square footage of 2,564, a size considerably larger than the average for the area.

This transaction is part of a broader trend of 127 similar sales of single-family homes in the Lakewood region in recent months, where the average sale price was calculated as $752,281. The buildings on these properties averaged 1,870 square feet in size, with an average cost per square foot standing at approximately $402, demonstrating a vibrant market environment.

Within the more specific geographical area of 80215, 18 other properties of the same nature have changed hands in recent months. The average sale price in this area was relatively higher, approximately $960,487, with the properties averaging 1,978 square feet in size. This leads to an average cost per square foot of about $486 in the specific 80215 region.

Consequently, the sale of the property at 1820 Hoyt St stands out for breaching the $1 million mark, an amount significantly higher than both the broader Lakewood and specific 80215 area averages. With its relatively large size of 2,564 square feet, this property sale underscores the variance in property valuations within Lakewood. Further tracking of property sales would provide deeper insights into this evolving real estate market.