MICROMARKET REPORT |
Foothills • January-September 2018
FOOTHILLS NEIGHBORHOODS 18
19 14
1 7
6
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
20
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: 6009 Flat Creek Drive, Evergreen
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FOOTHILLS market update The Colorado Foothills parallel the Front Range, offering spectacular mountain views and abundant wildlife. Neighborhoods such as Evergreen, Genesee, Lookout Mountain, Hiwan, and more, complete the Foothills’ report by LIV Sotheby’s International Realty. Many are drawn to living in the Foothills due to the close proximity to Denver and easy drive to the resort communities. January through September of 2018 showed
January-September 2018 Highlights:
an increase of interested buyers to this area, which offers a true Colorado lifestyle. One particular neighborhood at the base of the Foothills, Bear Mountain, showed exceptional results January through September of 2018, compared to 2017. Average
• Bear Mountains’s average price is $933,267
35.9%
• Hiwan Hill’s average price is $651,679
20.0%
• Lookout Mountain’s average price is $784,949
16.7%
• Tanoa’s average price is $985,400
35.5%
price for Bear Mountain increased by 35.9% to $933,267 in 2018. In addition, properties sold increased by 50% and average days on market decreased by 70.2%. Buyers looking to purchase in Bear Mountain are expected to pay more and act quick, with average days on market in 2018 at 48 days. Overall, the rest of the Foothills communities resulted in some noteworthy decreases in days on market and increases in price. Evergreen Meadows, Evergreen Meadows West, Hiwan Hills, Ridge at Hiwan, Shadow Mountain, and Spring Ranch had a drop of average days on market of over 40%. Evergreen Highlands, Evergreen Park Estates, Hiwan Country Club, Hiwan Hills, Lookout Mountain, Mt. Vernon Country Club, Spring Ranch, and Upper Bear Creek resulted in an increase of properties sold by 30+%. Each neighborhood within the Colorado Foothills provides a different environment, thus a different real estate market. This report details each neighborhood to provide an overview of January through September of 2018 compared to 2017 for average price, average price per square foot, average days on market, highest price, properties sold, and percentage sold-price to list-price.
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.
MICROMARKET REPORT | Foothills JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
BEAR MOUNTAIN January through September
2017
Average Price
$686,866
$933,267
35.9%
$343
$322
-6.1%
161
48
-70.2%
$1,160,000
$1,900,000
63.8%
8
12
50.0%
92.1%
97.4%
5.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
BROOK FOREST January through September Average Price
2017
$455,933
-7.8%
$326
$309
-5.1%
27
33
22.2%
$1,800,000
$721,000
-59.9%
19
15
-21.1%
99.3%
98.6%
-0.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$494,753
Average Price per Square Foot
Highest Price
2018
Around 23.5% of Brook Forest’s residences work from home, which is a higher percentage than 99.7% of other United State’s neighborhoods.
CONIFER MOUNTAIN January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$549,159
$664,909
21.1%
$276
$293
6.4%
76
19
-75.0%
$840,000
$895,000
6.5%
22
11
-50.0%
97.0%
100.2%
3.3%
coloradomicroreports.com
22.0%
The average price per square foot for the neighborhood of Evergreen Highlands increased by 22.0% January through June 2018 compared to that of 2017.
EVERGREEN HIGHLANDS January through September
2017
Average Price
$642,500
$614,313
-4.4%
$275
$335
22.0%
19
16
-15.8%
$735,000
$698,500
-5.0%
6
8
33.3%
99.2%
100.0%
0.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
EVERGREEN MEADOWS January through September Average Price
2017
$724,853
14.4%
$247
$250
1.2%
36
20
-44.4%
$1,038,780
$1,010,000
-2.8%
27
17
-37.0%
96.9%
97.8%
0.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$633,381
Average Price per Square Foot
Highest Price
2018
EVERGREEN MEADOWS WEST January through September Average Price
All residences within Evergreen Meadows boast 2+ acre lots that enjoy sweeping views of the Rocky Mountains.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$540,545
$541,961
0.3%
$261
$292
11.9%
109
29
-73.4%
$730,000
$716,650
-1.8%
11
9
-18.2%
95.2%
102.3%
7.5%
MICROMARKET REPORT | Foothills livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
EVERGREEN PARK ESTATES January through September
2017
Average Price
$604,333
$589,125
-2.5%
$278
$312
12.2%
17
16
-5.9%
$850,000
$875,000
2.9%
6
8
33.3%
97.2%
103.1%
6.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
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 September
2017
Average Price
% Change
$926,577
$890,376
-3.9%
$307
$347
12.9%
61
50
-18.0%
$2,500,000
$1,555,000
-37.8%
37
40
8.1%
92.9%
96.8%
4.2%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price
HANGEN RANCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$953,625
$787,238
-17.4%
$283
$330
16.5%
57
45
-21.1%
$1,625,000
$1,125,000
-30.8%
6
8
33.3%
95.3%
97.9%
2.7%
Situated ideally, just past Three Sisters’ open space park, Hangen Ranch offers large home lots and horse-friendly zoning.
coloradomicroreports.com
HIWAN COUNTRY CLUB January through September Average Price
2017
$871,536
16.7%
$285
$303
6.3%
8
36
350.0%
$975,000
$1,800,000
84.6%
13
20
53.8%
99.8%
98.6%
-1.3%
Average Days on Market
Properties Sold % Sold Price to List Price
20.0%
January through September 2018, the average price for the neighborhood of Hiwan Hills increased by 20.0% compared to that of 2017.
% Change
$746,615
Average Price per Square Foot
Highest Price
2018
HIWAN HILLS January through September Average Price
2017
$651,679
20.0%
$331
$261
-21.1%
21
12
-42.9%
$665,000
$835,000
25.6%
7
14
100.0%
99.6%
99.6%
0.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$543,286
Average Price per Square Foot
Highest Price
2018
LOOKOUT MOUNTAIN January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$672,733
$784,949
16.7%
$292
$325
11.2%
42
26
-38.1%
$1,035,000
$1,021,401
-1.3%
15
26
73.3%
95.5%
97.8%
2.4%
MICROMARKET REPORT | Foothills livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
MT. VERNON COUNTRY CLUB January through September
2017
2018
Average Price
$804,500
$606,000
-24.7%
$306
$280
-8.4%
46
63
37.0%
$859,000
$700,000
-18.5%
2
3
50.0%
99.6%
96.8%
-2.8%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
RIDGE AT HIWAN January through September Average Price
2017
$1,123,016
14.9%
$196
$335
70.6%
76
34
-55.3%
$1,850,000
$1,630,000
-11.9%
15
19
26.7%
96.3%
97.2%
1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$977,805
Average Price per Square Foot
Highest Price
2018
The Ridge at Hiwan, conveniently located near I-70, offers residences easy access to rolling hills, open spaces, ponds, and miles of trails.
RIVA CHASE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$871,100
$834,945
-4.2%
$273
$248
-9.2%
41
135
229.3%
$1,100,000
$1,100,000
0.0%
5
3
-40.0%
97.1%
80.7%
-16.9%
coloradomicroreports.com
SHADOW MOUNTAIN January through September
Shadow Mountain, located in beautiful Conifer, Colorado, is surrounded by hiking trails and offers residences easy access to Staunton State Park.
Average Price
2017
$499,128
-6.8%
$291
$268
-7.7%
49
24
-51.0%
$1,260,000
$772,500
-38.7%
15
10
-33.3%
97.1%
97.4%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$535,547
Average Price per Square Foot
Highest Price
2018
SODA CREEK January through September Average Price
2017
$1,373,933
-10.7%
$331
$329
-0.7%
163
133
-18.4%
$3,000,000
$2,212,500
-26.3%
14
12
-14.3%
93.3%
93.9%
0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
4.7%
January through September 2018, the percent sold price to list price in the neighborhood of Spring Ranch increased by 4.7% compared to that of 2017.
% Change
$1,538,893
Average Price per Square Foot
Highest Price
2018
SPRING RANCH January through September
2017
Average Price
$1,553,333
$1,253,904
-19.3%
$398
$396
-0.4%
318
81
-74.5%
$2,100,000
$1,500,925
-28.5%
3
6
100.0%
92.6%
96.9%
4.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
MICROMARKET REPORT | Foothills livsothebysrealty.com
JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM
TANOA January through September Average Price
2017
$985,400
35.5%
$297
$352
18.3%
34
30
-11.8%
$1,000,000
$1,375,000
37.5%
7
5
-28.6%
97.7%
98.6%
0.9%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$727,286
Average Price per Square Foot
Highest Price
2018
35.5%
The average price in the neighborhood of Tanoa increased by 35.5% January through September 2018 compared to that of 2017.
UPPER BEAR CREEK January through September
2017
Average Price
$1,187,094
$1,084,000
-8.7%
$609
$368
-39.5%
64
62
-3.1%
$1,860,000
$2,150,000
15.6%
2
7
250.0%
93.7%
97.1%
3.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
NUMBER OF STUDENTS PER TEACHER IN EVERGREEN: 18
% Change
PERCENTAGE OF HOME APPRECIATION 2017-18: 9%
AVERAGE COMMUTE TIME TO METRO DENVER: 30 MINUTES
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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.