MICROMARKET REPORT |
West Metro • Mid-Year 2019
WEST METRO NEIGHBORHOODS
12 6 7
21
1
14
11 16
10 15 5
13
8 19
17 18
2 3 20 4
9
1. Canyon Point 2. Mesa Meadows 3. City of Golden Proper 4. Eagle Ridge 5. Tablerock 6. Spring Mesa 7. Trail Village 8. Fieldstone 9. Mesa View Estates 10. Sunrise Ridge 11. West Woods 12. Village of Five Parks 13. Candelas 14. Leyden Rock 15. Ryan Ranch 16. Alkire Estates 17. Oak Park 18. Skyline Estates 19. Gardens at Table Mountain 20. Applewood 21. West Woods Ranch
Pictured on cover: 9051 Eastridge Road
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WEST METRO market update Welcome to Denver’s West Metro. This area is located on the way to the Foothills, just west of Denver’s bustling city center. There are 21 neighborhoods included in West Metro, each offering a mix of an urban and rural lifestyle. Many find this area an attractive place to call home, typically due to the larger lot sizes than Denver Metro offers, as well as recreational opportunities and of course, closer views of the Colorado mountains. LIV Sotheby’s International Realty produces a West Metro Micro Market Report analyzing the real estate performance for January through June 2019, compared to that of 2018. Highlights for the West Metro feature some impressive increases in average price including a 45.3% increase for Eagle Ridge to $810,000, from $557,500 in 2018. Mesa View Estates also noted a significant 41.3% increase in average price, to $1,035,000 in 2019 from $732,615 in 2018. Other notable peaks include a 75% increase in properties sold for Sunrise Ridge as well as West Woods Ranch, increasing to seven properties sold in 2019 from four in 2018. Both buyers and sellers have unique advantages in 2019. For buyers, average days on market has increased in many areas, which allows for more time to make real estate decisions. For sellers, many areas reported increases in average price and highest price – allowing for the best opportunity to receive the highest value for a sale.
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.
January – June 2019 Highlights: • Eagle Ridge’s average price increased to $810,000 in 2019
45.3%
• Mesa View Estates’ average price is $1,035,000
41.3%
• Properties sold for Sunrise Ridge as well as West Woods Ranch increased to seven in 2019 from four in 2018
75.0%
MICROMARKET REPORT | West Metro 2019 • COLORADOMICROREPORTS.COM
ALKIRE ESTATES January through June Average Price
2018
$1,035,000
30.2%
$196
$246
25.5%
2
14
600.0%
$795,000
$1,035,000
30.2%
1
1
0.0%
101.3%
98.6%
-2.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$795,000
Average Price per Square Foot
Highest Price
2019
8424 Oak Way, Alkire Estates
APPLEWOOD January through June Average Price
2018
$559,358
-4.7%
$336
$316
-5.9%
26
24
-7.7%
$1,430,000
$999,900
-30.1%
62
33
-46.8%
98.3%
97.8%
-0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$586,945
Average Price per Square Foot
Highest Price
2019
7.7%
January through June 2019, average days on market in the neighborhood of Applewood decreased by 7.7% compared to that of 2018.
CANDELAS January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$579,663
$601,284
3.7%
$221
$225
1.7%
90
78
-13.3%
$1,025,000
$1,215,000
18.5%
75
85
13.3%
98.8%
97.2%
-1.6%
coloradomicroreports.com
CANYON POINT January through June Average Price
Canyon Point is located just north of Golden near many restaurants and shops, and boasts sweeping views of Colorado’s foothills.
2018
$921,875
19.9%
$353
$328
-7.1%
3
6
100.0%
$965,000
$972,500
0.8%
3
4
33.3%
98.6%
98.5%
-0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$768,667
Average Price per Square Foot
Highest Price
2019
EAGLE RIDGE January through June Average Price
2018
$810,000
45.3%
$351
$313
-10.9%
4
9
125.0%
$675,000
$810,000
20.0%
4
1
-75.0%
102.1%
100.0%
-2.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$557,500
Average Price per Square Foot
Highest Price
2019
FIELDSTONE January through June Average Price
Fieldstone is a family-friendly community within Arvada that borders Long Lake Regional Park, offering residents easy access to many recreational trails.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$616,875
$661,575
7.2%
$232
$229
-1.3%
42
23
-45.2%
$692,500
$663,199
-4.2%
4
2
-50.0%
98.8%
98.1%
-0.8%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
VILLAGE OF FIVE PARKS January through June Average Price
2018
$604,119
5.5%
$223
$253
13.7%
15
13
-13.3%
$660,000
$795,000
20.5%
17
16
-5.9%
99.8%
98.8%
-1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$572,432
Average Price per Square Foot
Highest Price
2019
13.7%
The average price per square foot in the neighborhood of Village of Five Parks increased by 13.7% January through June 2019 compared to that of 2018.
GARDENS AT TABLE MOUNTAIN January through June
2018
Average Price
$842,500
$0
-100.0%
$304
$0
-100.0%
27
0
-100.0%
$1,000,000
$0
-100.0%
2
0
-100.0%
98.2%
0.0%
-100.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
% Change
CITY OF GOLDEN PROPER January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$598,316
$619,833
3.6%
$383
$381
-0.5%
22
55
150.0%
$1,100,000
$1,150,000
4.5%
71
15
-78.9%
100.3%
93.6%
-6.7%
3.6%
The average price in the City of Golden Proper increased by 3.6% January through June 2019 compared to that of 2018.
coloradomicroreports.com
LEYDEN ROCK January through June Average Price
2018
$620,144
0.8%
$238
$244
2.5%
88
80
-9.1%
$1,004,076
$975,000
-2.9%
61
70
14.8%
98.9%
96.6%
-2.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$615,497
Average Price per Square Foot
Highest Price
2019
12791 W 74th Drive, Leyden Rock
MESA MEADOWS January through June Average Price
Mesa Meadows is a beautiful neighborhood located within Golden just north of the Colorado School of Mines.
2018
$690,667
-15.3%
$314
$493
56.9%
30
3
-90.0%
$930,000
$715,000
-23.1%
3
3
0.0%
96.6%
101.4%
5.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$815,167
Average Price per Square Foot
Highest Price
2019
MESA VIEW ESTATES January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$732,615
$1,035,000
41.3%
$234
$256
9.6%
168
57
-66.1%
$825,000
$1,150,000
39.4%
13
4
-69.2%
95.5%
96.0%
0.4%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
OAK PARK January through June Average Price
2018
% Change
$487,833
$522,817
7.2%
$227
$235
3.3%
11
11
0.0%
$540,000
$625,000
15.7%
5
6
20.0%
96.8%
99.4%
2.7%
Average Price per Square Foot Average Days on Market Highest Price
2019
Properties Sold % Sold Price to List Price
7.2%
The average price for the neighborhood of Oak Park increased by 7.2% January through June 2019 compared to that of 2018.
RYAN RANCH January through June Average Price
2018
% Change
$636,667
$708,100
11.2%
$239
$260
8.5%
27
11
-59.3%
$680,000
$750,000
10.3%
3
5
66.7%
98.9%
99.7%
0.8%
Average Price per Square Foot Average Days on Market Highest Price
2019
Properties Sold % Sold Price to List Price
SKYLINE ESTATES January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$544,167
$672,030
23.5%
$248
$257
3.4%
17
20
17.6%
$565,000
$1,400,000
147.8%
6
10
66.7%
99.4%
99.3%
-0.1%
66.7%
The number of properties sold for Skyline Estates increased by 66.7% January through June 2019 compared to that of 2018.
coloradomicroreports.com
37.5%
January through June 2019, the number of properties sold for the neighborhood of Spring Mesa increased by 37.5% compared to that of 2018.
SPRING MESA January through June Average Price
2018
$818,136
1.0%
$281
$279
-0.6%
8
25
212.5%
$887,000
$900,000
1.5%
8
11
37.5%
99.4%
97.6%
-1.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$810,000
Average Price per Square Foot
Highest Price
2019
SUNRISE RIDGE January through June Average Price
2018
$657,286
6.2%
$234
$258
10.2%
7
12
71.4%
$636,000
$735,000
15.6%
4
7
75.0%
100.3%
100.4%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
40.0%
January through June 2019, the average days on market in the neighborhood of Tablerock decreased by 40.0% compared to that of 2018.
% Change
$618,667
Average Price per Square Foot
Highest Price
2019
TABLEROCK January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$801,082
$854,000
6.6%
$251
$281
11.9%
35
21
-40.0%
$975,000
$950,000
-2.6%
11
5
-54.5%
98.0%
98.0%
0.0%
MICROMARKET REPORT | West Metro livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
TRAIL VILLAGE January through June Average Price
2018
$673,000
-10.6%
$273
$262
-4.0%
17
69
305.9%
$1,050,000
$915,000
-12.9%
8
3
-62.5%
102.4%
100.0%
-2.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$752,681
Average Price per Square Foot
Highest Price
2019
WEST WOODS January through June Average Price
2018
$772,357
14.9%
$260
$287
10.6%
19
25
31.6%
$1,050,000
$1,027,000
-2.2%
42
7
-83.3%
100.4%
100.1%
-0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$671,994
Average Price per Square Foot
Highest Price
2019
14.9%
January through June 2019, the average price in the neighborhood of West Woods increased by 14.9% compared to that of 2018.
WEST WOODS RANCH January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
2019
% Change
$597,700
$756,071
26.5%
$223
$270
21.3%
28
17
-39.3%
$710,800
$1,230,000
73.0%
4
7
75.0%
100.1%
98.8%
-1.3%
39.3%
January through June 2019, the average days on market for West Woods Ranch decreased by 39.3% compared to that of 2018.
coloradomicroreports.com
WE ARE.
THE VOICE OF COLORADO REAL ESTATE
15739 West 95th Place, Arvada
23
500 72
1,000
22,700
1
Exceptional Brand
The life you love.
livsothebysrealty.com | coloradomicroreports.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.