Sale of Single Family Home in Lakewood Overshadows Average Property Prices
A residential property located at 3400 S Reed Street, Lakewood was sold on January 18, 2024, with a sale price set at $1,410,000. The property is a single-family home boasting 3,022 square feet of floor space.
When put in context with recent sales in the region, the price of this property significantly exceeds the average. In the past few months, there have been 179 sales of similar single-family properties in Lakewood, with these homes fetching an average price of $728,277. The average size of these properties sold was 1,772 square feet, yielding an average cost per square foot of $411.
The story is somewhat similar when homing in on properties sold in the specific zip code of the recently sold home, 80227. There, 39 other single-family homes have been sold recently, scoring an average sale price of $880,189 for a space of 2,137 square feet per property. This area sees an average cost per square foot of $412, closely aligning with Lakewood’s overall average.
In summary, the sale of the property at 3400 S Reed Street draws attention due to its price that overshoots the average sale price of similar properties both in the broader Lakewood area and specifically in the 80227 zip code region.
