We report on a statistical analysis of the 345GHz submillimeter (submm) and 100GHz radio flux density distribution of Sagittarius A* (Sgr A*). The submm data set consists of 345GHz data obtained from different Large Apex Bolometer Camera (LABOCA) campaigns between 2008 and 2014, and additional literature data from 2004 to 2009 at comparable wavelengths. The radio observations were carried out with the Australia Telescope Compact Array (ATCA) between 2010 and 2014. We used a combined maximum likelihood estimator (MLE) and Kolmogorov-Smirnov (KS) statistics method to test for a possible power-law distribution in the high flux density excursions (flares) at both wavebands. We find that both flux density distributions can be described by a shifted power-law of the form p(x){prop.to}(x-S)^-{alpha}^ with {alpha}~4 (submm: {alpha}=4.0+/-1.7, radio: {alpha}=4.7+/-0.8). The same power-law index was previously found for the near-infrared (NIR) flux density distribution. These results may strengthen our preferred flare emission model: a combined synchrotron self-Compton (SSC) and adiabatically expanding self-absorbed synchrotron blob model where the flaring activity across all wavebands stem from the same source components and the variable emission can be described by a single state red noise process. Within the framework of the expanding blob model the similarity of the radio and the submm flux density distribution may also narrow down possible initial synchrotron turnover {nu}_0_ to be mainly around 350GHz and possible expansion velocities v_exp_ to be predominantly around 0.01c.