Foothills Quarter 1, 2017 Micro Market Report

Page 1

NEIGHBORHOOD MICROMARKET REPORT |

January through June

2016

2017

% Change

Average Price Foothills • Quarter 1 2017 Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

MICROMARKET REPORT | Denver Metro 303.893.3200

page 1

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


FOOTHILLS NEIGHBORHOODS 18

19 14

1 7

6

20

8

13

10 5

2.

Upper Bear Creek

3.

Hangen Ranch

4.

Shadow Mountain

5.

Brook Forest

7.

Ridge at Hiwan

8.

Hiwan Country Club

9. Tanoa

15 3

Soda Creek

6. Genesee

9 2

1.

16 17

4 11 12

10.

Evergreen Valley Estates

11.

Evergreen Meadows West

12.

Conifer Mountain

13.

Hiwan Hills

14.

Spring Ranch

15.

Bear Mountain

16.

Evergreen Highlands

17.

Evergreen Meadows

18.

Lookout Mountain

19.

Mt. Vernon Country Club

20.

Riva Chase

Pictured on cover: 92 Whiskey Jay Hill Road, Evergreen

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FOOTHILLS AREA Market Introduction The Foothills Area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2017 Q1 statistics (January through March), to that of 2016, for single family homes and attached dwellings. The Foothills of Denver metro and its surrounding areas are located in western Jefferson County and include higher terrain areas between 6,000 and 9,000 feet west of Denver that parallel the Front Range Mountains. The foothills are consistently rated as some of the best places to live, work, and raise a family in Colorado, and provide much closer proximity to weekend getaways in the mountains. The foothills stretch from Roxborough State Park, north, to the west side of Fort Collins. Cities and towns in the foothills region included in this report include Evergreen, Genesee and Conifer. Highlights from the Foothills area include Hangen Ranch’s average price rising to $1,078,917, up 84.4% since 2016- and for the first time, surpassing the $1M price point. Evergreen Meadows’s average price rose, 42.8%, to $599,777, over 2016. Evergreen Highlands’s average price rose slightly, up 37.7% to $692,500 over 2016. A continued strong demand in the Foothills is projected as the result of the many positive economic variables that living in the Colorado Foothills affords.

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Q1 2017 Highlights: • Hangen Ranch’s average price is $1,078,917

84.3%

• Evergreen Highland’s average price is $692,500

37.7%

• Evergreen Meadow’s average price is $599,777

42.8%

• Soda Creeks’s average price is $1,569,000

83.5%

Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.

MICROMARKET REPORT | Foothills QUARTER 1 2017 • COLORADOMICROREPORTS.COM


BEAR MOUNTAIN January through March

2016

2017

% Change

Average Price

-

$759,333

-

Average Price per Square Foot

-

$316

-

Average Days on Market

-

301

-

Highest Price

-

$1,160,000

-

No Sales

3

-

-

88.1%

-

Properties Sold % Sold Price to List Price

BROOK FOREST January through March Average Price

2016

$374,625

-1.7%

$242

$347

43.3%

30

29

-3.3%

$381,000

$597,500

56.8%

5

4

-20.0%

100.3%

97.4%

-2.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$381,000

Average Price per Square Foot

Highest Price

2017

43.3%

During Q1 2017, the average price per square foot in the neighborhood of Brook Forest increased by 43.3% compared to Q1 2016.

CONIFER MOUNTAIN January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$435,150

$578,750

33.0%

$528

$232

-56.1%

33

210

536.4%

$516,600

$840,000

62.6%

4

6

50.0%

99.2%

95.2%

-4.0%

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EVERGREEN HIGHLANDS Evergreen Highlands is about 12 minutes from Evergreen town center and is about the same distance to Conifer. Homeowners have access to community amenities such as tennis courts, ponds, and a barn.

January through March

2016

2017

Average Price

$503,000

$692,500

37.7%

$230

$270

17.2%

113

17

-85.0%

$530,000

$700,000

32.1%

2

2

0.0%

88.2%

101.3%

14.8%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

EVERGREEN MEADOWS January through March

2016

Average Price

$420,000

$599,777

42.8%

$186

$207

11.2%

24

69

187.5%

$420,000

$760,000

81.0%

1

7

600.0%

85.9%

95.8%

11.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

3.1%

The percent sold price to list price for the neighborhood of Evergreen Meadows West increased by 3.1% in Q1 2017 compared to Q1 2016.

2017

% Change

EVERGREEN MEADOWS WEST January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$653,475

$489,667

-25.1%

$163

$236

44.7%

207

21

-89.9%

$1,231,400

$611,000

-50.4%

4

3

-25.0%

93.3%

96.1%

3.1%

MICROMARKET REPORT | Foothills livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


EVERGREEN PARK ESTATES January through March

2016

Average Price

-

-

$220

-

-

2

-

-

$485,000

-

-

2

No Sales

-

100.6%

-

-

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$455,050

Average Price per Square Foot

Highest Price

2017

Evergreen Park Estates is a quiet area. Most home sites are between 1-2 acres and have wooded lots. This area is convenient to Three Sisters’ open space park and is about 10 minutes or less to area shopping.

GENESEE January through March

2016

Average Price

% Change

$705,333

$816,071

15.7%

$263

$303

15.2%

111

72

-35.1%

$1,325,000

$1,090,000

-17.7%

15

7

-53.3%

97.6%

94.8%

-2.9%

Average Price per Square Foot Average Days on Market Highest Price

2017

Properties Sold % Sold Price to List Price

HANGEN RANCH January through March

2016

2017

Average Price

$585,000

$1,078,917

84.4%

$304

$294

-3.2%

162

80

-50.6%

$585,000

$1,625,000

177.8%

1

3

200.0%

97.7%

94.2%

-3.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

84.4%

The average price in the neighborhood of Hangen Ranch increased by 84.4% in Q1 2017 compared to Q1 2016.

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HIWAN COUNTRY CLUB January through March Average Price

2016

$775,125

25.7%

$312

$269

-13.8%

4

4

0.0%

$688,000

$915,000

33.0%

5

4

-20.0%

100.0%

100.4%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

24.7%

During Q1 2017, the average price per square foot for the neighborhood of Hiwan Hills increased by 24.7% compared to Q1 2016.

% Change

$616,600

Average Price per Square Foot

Highest Price

2017

HIWAN HILLS January through March Average Price

2016

$474,500

-14.7%

$231

$288

24.7%

40

6

-85.0%

$872,000

$489,000

-43.9%

4

2

-50.0%

98.5%

104.1%

5.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$556,475

Average Price per Square Foot

Highest Price

2017

LOOKOUT MOUNTAIN January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$738,167

$584,500

-20.8%

$322

$278

-13.8%

61

21

-65.6%

$899,500

$675,000

-25.0%

3

2

-33.3%

96.8%

96.6%

-0.2%

MICROMARKET REPORT | Foothills livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


MT. VERNON COUNTRY CLUB January through March

2016

Average Price

2017

% Change

$681,000

$859,000

26.1%

Average Price per Square Foot

272

$296

8.7%

Average Days on Market

139

84

-39.6%

$681,000

$859,000

26.1%

1

1

0.0%

72.1%

97.7%

35.6%

Highest Price Properties Sold % Sold Price to List Price

RIDGE AT HIWAN January through March Average Price

2016

$1,009,333

20.5%

$295

$292

-1.2%

90

113

25.6%

$1,300,000

$1,500,000

15.4%

9

3

-66.7%

98.4%

97.4%

-1.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$837,444

Average Price per Square Foot

Highest Price

2017

20.5%

The average price in the neighborhood of Ridge at Hiwan increased by 20.5% in Q1 2017 compared to Q1 2016.

RIVA CHASE January through March

2016

Average Price

$1,027,500

$1,100,000

7.1%

$232

$246

6.1%

174

130

-25.3%

$1,100,000

$1,100,000

0.0%

2

1

-50.0%

92.1%

91.9%

-0.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

% Change

coloradomicroreports.com


60.2%

During Q1 2017, the average price per square foot in the neighborhood of Shadow Mountain increased by 60.2% compared to Q1 2016.

SHADOW MOUNTAIN January through March Average Price

2016

$683,040

128.3%

$192

$308

60.2%

34

59

73.5%

$577,500

$1,260,000

118.2%

3

5

66.7%

90.0%

94.9%

5.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$299,167

Average Price per Square Foot

Highest Price

2017

SODA CREEK January through March

2016

Average Price

$855,000

$1,569,000

83.5%

$204

$313

53.4%

158

184

16.5%

$855,000

$3,000,000

250.9%

1

5

400.0%

77.7%

90.4%

16.3%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

% Change

SPRING RANCH January through March

Spring Ranch is a quiet neighborhood with beautiful, stately homes and quick access to I-70.

2016

2017

% Change

Average Price

-

-

-

Average Price per Square Foot

-

-

-

Average Days on Market

-

-

-

Highest Price

-

-

-

No Sales

No Sales

-

-

-

-

Properties Sold % Sold Price to List Price

MICROMARKET REPORT | Foothills livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


TANOA January through March

2016

2017

% Change

Average Price

-

$707,000

-

Average Price per Square Foot

-

$237

-

Average Days on Market

-

79

-

Highest Price

-

$707,000

-

No Sales

1

-

-

96.2%

-

Properties Sold % Sold Price to List Price

UPPER BEAR CREEK January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$812,500

-

-

$179

-

-

30

-

-

$812,500

-

-

1

No Sales

-

92.9%

-

-

NUMBER OF STUDENTS PER TEACHER IN EVERGREEN: 18

Located near Evergreen, Upper Bear Creek features an assortment of historic estates and new homes, many with creek-side settings, and lush meadow and Mt. Evans views.

PERCENTAGE OF HOME APPRECIATION 2016-17: 9

AVERAGE COMMUTE TIME TO METRO DENVER: 30 MINUTES

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The life you love.

coloradomicroreports.com | livsothebysrealty.com Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.


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