Foothills Q1 2019 Micro Market Report

MICROMARKET REPORT |

Foothills • Quarter 1 2019

FOOTHILLS NEIGHBORHOODS 18

19 14

1

6 7

8

13

10 5

2.

Upper Bear Creek

3.

Hangen Ranch

4.

Shadow Mountain

5.

Brook Forest

7.

Ridge at Hiwan

8.

Hiwan Golf 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.

Mount Vernon Canyon

20.

Riva Chase

Pictured on cover: 6009 Flat Creek Drive, Evergreen.

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FOOTHILLS market update The well-known Colorado Foothills parallel the Front Range, offering open space, spectacular mountain views, and abundant wildlife. Neighborhoods such as Genesee, Lookout Mountain, and Hiwan Hills complete the Foothills and many are drawn to living in this location due to the close proximity to Denver and easy drive to the resort communities.

LIV Sotheby’s International Realty produces a Foothills Micro Market Report

January-March 2019 Highlights:

comparing real estate activity for Q1 of 2019 to Q1 of 2018. A significant highlight from this year’s report includes a 113.9% increase in average price for Hangen Ranch, bringing the new average price in 2019 to $1,465,000, from $684,950 for 2018. Evergreen Meadows West also showed a notable increase in average price of

• Hangen Ranch’s average price is $1,465,000

113.9%

• Evergreen Meadows West’s average price is $776,000

56.3%

• Hiwan Golf Club’s average price is $1,098,600

38.1%

• Conifer Mountains average price is $656,000

19.3%

53.6%, to $776,000 in 2019.

Proving that 2019 is off to a healthy start for real estate, many Foothills’ communities reported noticeable increases in the number of properties sold.

Conifer Mountain, Evergreen Meadows, and Upper Bear Creek saw increases of 100% of properties sold in Q1 of 2019 compared to Q1 of 2018. Hiwan Hills also reported a significant increase of 66.7% of properties sold to five properties in 2019, from three properties in 2018.

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 Q1 2019 results compared to Q1 2018 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 2019 • COLORADOMICROREPORTS.COM

BEAR MOUNTAIN January through March Average Price

2018

$722,500

-33.7%

$283

$267

-5.8%

72

2

-97.2%

$1,275,000

$722,500

-43.3%

2

1

-50.0%

91.5%

99.7%

8.9%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,089,500

Average Price per Square Foot

Highest Price

2019

25448 Stanley Park Road, Bear Mountain

BROOK FOREST January through March Average Price

2018

$525,000

0.9%

$300

$398

32.8%

68

5

-92.6%

$721,000

$585,000

-18.9%

4

2

-50.0%

97.7%

101.7%

4.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$520,250

Average Price per Square Foot

Highest Price

2019

23.5% of Brook Forest’s residents work from home, which is a higher percentage than 99.7% of other United States’ neighborhoods.

CONIFER MOUNTAIN January through March

2018

2019

Average Price

$550,000

$656,000

19.3%

$259

$206

-20.5%

5

20

300.0%

$555,000

$682,000

22.9%

1

2

100.0%

105.7%

99.8%

-5.6%

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

% Change

11763 Braun Way, Conifer Mountain

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EVERGREEN HIGHLANDS January through March

2018

Average Price

$598,000

$663,571

11.0%

$355

$341

-3.9%

2

4

100.0%

$620,000

$770,000

24.2%

2

3

50.0%

100.0%

99.7%

-0.3%

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

2019

% Change

6383 Little Cub Creek Road, Evergreen Highlands

15.1%

January through March 2019, the average price for the neighborhood of Evergreen Meadows increased by 15.1% compared to that of 2018.

EVERGREEN MEADOWS January through March

2018

Average Price

$594,500

$684,125

15.1%

$240

$231

-3.4%

44

88

100.0%

$629,000

$880,000

39.9%

2

4

100.0%

95.9%

96.9%

1.0%

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

2019

% Change

EVERGREEN MEADOWS WEST January through March Average Price

All residences within Evergreen Meadows West 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

2018

2019

% Change

$505,250

$776,000

53.6%

$286

$183

-36.1%

81

14

-82.7%

$545,500

$776,000

42.3%

2

1

-50.0%

98.6%

97.6%

-1.0%

MICROMARKET REPORT | Foothills livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

EVERGREEN PARK ESTATES January through March

2018

Average Price

$0

-100.0%

$333

$0

-100.0%

5

0

-100.0%

$800,000

$0

-100.0%

3

0

-100.0%

108.7%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$587,333

Average Price per Square Foot

Highest Price

2019

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

2018

Average Price

% Change

$894,755

$842,833

-5.8%

$299

$363

21.3%

81

25

-69.1%

$1,400,000

$1,262,500

-9.8%

10

12

20.0%

94.5%

98.6%

4.3%

Average Price per Square Foot Average Days on Market Highest Price

2019

Properties Sold % Sold Price to List Price

25784 Bristlecone Court, Genesee

HANGEN RANCH January through March

2018

Average Price

$684,950

$1,465,000

113.9%

$275

$440

60.0%

156

284

82.1%

$779,900

$1,630,000

109.0%

2

2

0.0%

93.7%

87.4%

-6.7%

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

2019

% Change

109%

January through March 2019, the highest price for the neighborhood of Hangen Ranch increased by 109% compared to that of 2018.

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HIWAN GOLF CLUB January through March Average Price

2018

$1,098,600

38.1%

$304

$353

16.3%

70

112

60.0%

$850,000

$1,725,000

102.9%

6

5

-16.7%

99.4%

95.1%

-4.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$795,250

Average Price per Square Foot

Highest Price

2019

2580 Pinehurst Drive, Hiwan Golf Club

66.7%

January through March 2019, amount of properties sold for the neighborhood of Hiwan Hills increased by 66.7% compared to that of 2018.

HIWAN HILLS January through March Average Price

2018

$646,200

5.8%

$263

$325

23.7%

2

20

900.0%

$715,000

$699,999

-2.1%

3

5

66.7%

101.6%

95.9%

-5.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$610,667

Average Price per Square Foot

Highest Price

2019

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

2018

2019

% Change

$770,958

$601,000

-22.0%

$320

$339

5.8%

61

70

14.8%

$1,021,401

$700,000

-31.5%

4

3

-25.0%

96.6%

92.5%

-4.2%

MICROMARKET REPORT | Foothills livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

MOUNT VERNON CANYON January through March

2018

Average Price

$0

-100.0%

$289

$0

-100.0%

95

0

-100.0%

$683,000

$0

-100.0%

2

0

-100.0%

95.2%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$559,000

Average Price per Square Foot

Highest Price

2019

The town is best known as the home of Robert W. Steele, who made it the de facto capital of the unofficial Territory of Jefferson while he was governor in 1859–1861.

RIDGE AT HIWAN January through March Average Price

2018

$1,181,667

14.7%

$304

$323

6.3%

86

30

-65.1%

$1,435,000

$1,320,000

-8.0%

4

3

-25.0%

92.1%

95.4%

3.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,030,000

Average Price per Square Foot

Highest Price

2019

30376 Snowbird Lane, Ridge at Hiwan

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

2018

2019

% Change

$963,668

$847,000

-12.1%

$285

$285

0.0%

188

263

39.9%

$1,100,000

$847,000

-23.0%

2

1

-50.0%

91.4%

91.7%

0.3%

Riva Chase translates to “chasing a dream” in Italian. The average lot size in this community ranges between half an acre and two acres.

coloradomicroreports.com

SHADOW MOUNTAIN January through March Average Price

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

2018

% Change

$377,500

$0

-100.0%

$315

$0

-100.0%

5

0

-100.0%

$505,000

$0

-100.0%

2

0

-100.0%

Average Price per Square Foot Average Days on Market Highest Price

2019

Properties Sold

SODA CREEK January through March Average Price

2018

$0

-100.0%

$297

$0

-100.0%

123

0

-100.0%

$2,000,000

$0

-100.0%

5

0

-100.0%

92.6%

0.0%

-100.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,233,000

Average Price per Square Foot

Highest Price

2019

SPRING RANCH Spring Ranch encompasses 360 acres of pine and aspen-laden hills and is situated between the communities of Genesee and Evergreen.

January through March

2018

Average Price

$1,311,250

$0

-100.0%

$502

$0

-100.0%

23

0

-100.0%

$1,450,000

$0

-100.0%

2

0

-100.0%

99.9%

0.0%

-100.0%

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

2019

% Change

MICROMARKET REPORT | Foothills livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

TANOA January through March Average Price

2018

$949,900

-11.2%

$370

$359

-2.8%

36

126

250.0%

$1,375,000

$949,900

-30.9%

4

1

-75.0%

97.3%

98.0%

0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,069,250

Average Price per Square Foot

Highest Price

2019

31493 Blackfeather Trail, Tanoa

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

2018

2019

% Change

$715,000

$445,000

-37.8%

$295

$294

-0.2%

3

21

600.0%

$715,000

$530,000

-25.9%

1

2

100.0%

102.1%

91.5%

-10.4%

EVERGREEN HIGH SCHOOL IN COLORADO RANKINGS: 10

100%

The number of properties sold in the neighborhood of Upper Bear Creek increased by 100% January through March 2019 compared to that of 2018.

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.