MARKET UPDATE Foothills

Bridging the Denver and mountain communities, the Foothills benefit from a unique combination of natural beauty, convenience to both urban areas and outdoor recreation, and some of the most amazing communities to call ‘home.’ Situated within the west corridor of Jefferson County, this collection of neighborhoods including beloved areas such as Genesee, Hiwan Hills, and Lookout Mountain, provides more privacy and space than other areas of Denver and gives its residents a taste of mountain living.

The Foothills real estate market is starting off 2023 on a positive note and outperforming many conservative expectations. The number of homes sold throughout Jefferson County decreased in comparison to 2022. Through March of this year, there have been 1,164 homes sold—down 17.5% from 2022. However, low inventory coupled with continued buyer demand resulted in housing prices remaining strong and a decrease in the days on market. After a slow end of 2022, momentum is certainly building in the Foothills real estate market.

Rising interest rates means that buyers have less purchasing power. Sellers have come down ever so slightly in pricing, but limited inventory and high demand still gives buyers a lot of control in this market. During the first quarter of the year, the average price for a singlefamily home in Jefferson County is $729,892—down 6.1% from 2022.

Individual neighborhoods with the Foothills communities vary in market trends, as there are many distinctions even within this small geographic region. We are seeing a wide variance in buyer demand for certain neighborhoods, subdivisions and even buildings. In the first quarter of 2023, Conifer Mountain saw a 7.7% increase in average sales price compared to 2022, and the Evergreen Meadows saw a -22.2% decrease for the same time period.

We recognize each locality is unique and no two regions respond to market shifts the same way. To aid in presenting an accurate picture of each of the areas that make up the Foothills communities, LIV Sotheby’s International Realty is proud to present our Micro-Market Report, representing the metrics of many key and beloved neighborhoods.

Jefferson County

Bear Mountain, perched at 8,629 feet in elevation on the eastern side of Evergreen, provides residents with the quintessential Colorado lifestyle experience. This serene community is located approximately 35 minutes west of Denver.

7.2%

The average price per square foot in Brook Forest increased by 7.2% in the first quarter of 2023 compared to that of 2022.

Evergreen Highlands is a 230-home community along the front range of the Rocky Mountains. Residents love Evergreen Highlands for the community’s array of amenities, including tennis and volleyball courts, playgrounds, a trout pond, stables, and more.

Evergreen Meadows West is located down the road from Flying J Ranch and Arapahoe National Forest. Just 15 minutes from downtown Evergreen, here you can find quiet home sites on two-plus acres, as well as gorgeous views and a convenient location.

Evergreen Park Estates is a quiet area with most homesites between one to two acres. This area is located conveniently close to Alderfer/Three Sisters Park and is about 10 minutes to local shopping.

Hangen Ranch is a small neighborhood located in South Evergreen, providing a mix of modern, mountain and old-farm-style homes. With views of Mt. Evans and only minutes from Evergreen Lake, Hangen Ranch is perfect for those looking to enjoy the outdoors.

31.7%

The highest home sale price in Lookout Mountain increased by 31.7% in the first quarter of 2023 compared to that of 2022.

Located in Golden, Lookout Mountain is a 7,377-foot peak providing natural scenery and gorgeous views of both Golden and downtown Denver.

5.7%

The average price per square foot in Ridge at Hiwan increased by 5.7% in the first quarter of 2023 compared to that of 2022.

Shadow Mountain, located in beautiful Conifer, is surrounded by hiking trails and offers residences easy access to Staunton State Park.

59.1%

The average home sale price in Soda Creek increased by 59.1% in the first quarter of 2023 compared to that of 2022.

Located in North Evergreen, Tanoa is a gorgeous, masterplanned community with close proximity to local schools and Evergreen’s best amenities, including popular restaurants, retail stores, and Elk Meadow Open Space Park.